American International Group Inc. Sells 2,791 Shares of WEX Inc. (NYSE:WEX)

American International Group Inc. trimmed its position in shares of WEX Inc. (NYSE:WEXFree Report) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 57,899 shares of the business services provider’s stock after selling 2,791 shares during the quarter. American International Group Inc. owned approximately 0.14% of WEX worth $11,264,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in WEX. CIBC Private Wealth Group LLC raised its stake in shares of WEX by 6.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,771 shares of the business services provider’s stock worth $734,000 after purchasing an additional 219 shares during the last quarter. Kodai Capital Management LP purchased a new stake in shares of WEX during the 4th quarter valued at about $49,750,000. KBC Group NV purchased a new stake in WEX during the fourth quarter valued at approximately $163,000. Alpha DNA Investment Management LLC purchased a new position in shares of WEX during the 4th quarter worth $618,000. Finally, Treasurer of the State of North Carolina grew its position in shares of WEX by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 18,965 shares of the business services provider’s stock valued at $3,690,000 after acquiring an additional 190 shares during the period. Hedge funds and other institutional investors own 97.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on WEX shares. StockNews.com cut shares of WEX from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. Citigroup increased their price objective on shares of WEX from $240.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Wells Fargo & Company began coverage on WEX in a report on Wednesday. They issued an “equal weight” rating and a $200.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on WEX from $205.00 to $239.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Finally, Jefferies Financial Group raised their price target on WEX from $235.00 to $240.00 and gave the company a “hold” rating in a report on Friday, April 12th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $237.14.

Get Our Latest Analysis on WEX

WEX Stock Down 0.5 %

Shares of NYSE:WEX opened at $181.13 on Friday. The firm has a market capitalization of $7.59 billion, a PE ratio of 29.45, a price-to-earnings-growth ratio of 1.05 and a beta of 1.56. The business has a 50 day simple moving average of $211.95 and a two-hundred day simple moving average of $207.74. WEX Inc. has a 1 year low of $161.95 and a 1 year high of $244.04. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.06 and a quick ratio of 1.06.

WEX (NYSE:WEXGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The business services provider reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.15. The company had revenue of $652.70 million during the quarter, compared to analysts’ expectations of $653.52 million. WEX had a return on equity of 30.92% and a net margin of 10.21%. On average, equities analysts predict that WEX Inc. will post 13.98 EPS for the current year.

Insider Transactions at WEX

In related news, COO Robert Joseph Deshaies sold 1,897 shares of WEX stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $211.01, for a total transaction of $400,285.97. Following the completion of the sale, the chief operating officer now owns 9,408 shares in the company, valued at approximately $1,985,182.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other WEX news, COO Robert Joseph Deshaies sold 1,897 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $211.01, for a total transaction of $400,285.97. Following the transaction, the chief operating officer now directly owns 9,408 shares in the company, valued at approximately $1,985,182.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jennifer Kimball sold 1,200 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $211.55, for a total value of $253,860.00. Following the completion of the sale, the chief accounting officer now owns 1,909 shares of the company’s stock, valued at $403,848.95. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,140 shares of company stock worth $880,673. Insiders own 1.10% of the company’s stock.

About WEX

(Free Report)

WEX Inc operates a commerce platform in the United States and internationally. The Mobility segment offers fleet vehicle payment solutions, transaction processing, and information management services; and provides account activation and account retention services; authorization and billing inquiries, and account maintenance services; account management; credit and collections services; merchant services; analytics solutions; and ancillary services and offerings.

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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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