Corebridge Financial Inc. Has $7.90 Million Stock Holdings in WEX Inc. (NYSE:WEX)

Corebridge Financial Inc. reduced its holdings in shares of WEX Inc. (NYSE:WEX - Free Report) by 7.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 45,058 shares of the business services provider's stock after selling 3,569 shares during the quarter. Corebridge Financial Inc. owned 0.11% of WEX worth $7,900,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CIBC Asset Management Inc lifted its holdings in shares of WEX by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 1,283 shares of the business services provider's stock worth $225,000 after acquiring an additional 65 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in WEX by 25.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider's stock valued at $56,000 after purchasing an additional 66 shares during the last quarter. Xponance Inc. boosted its position in WEX by 1.4% in the fourth quarter. Xponance Inc. now owns 4,864 shares of the business services provider's stock valued at $853,000 after buying an additional 68 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. grew its stake in shares of WEX by 0.6% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 11,175 shares of the business services provider's stock worth $1,959,000 after buying an additional 70 shares during the last quarter. Finally, Truvestments Capital LLC increased its holdings in shares of WEX by 4.9% during the fourth quarter. Truvestments Capital LLC now owns 1,686 shares of the business services provider's stock worth $296,000 after buying an additional 78 shares in the last quarter. Institutional investors own 97.47% of the company's stock.

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WEX Trading Up 1.3 %

Shares of WEX stock traded up $1.94 on Monday, reaching $156.50. 223,999 shares of the company's stock were exchanged, compared to its average volume of 491,997. The firm's 50-day moving average is $162.27 and its two-hundred day moving average is $179.13. The company has a market capitalization of $6.07 billion, a P/E ratio of 20.85, a price-to-earnings-growth ratio of 2.06 and a beta of 1.61. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.04 and a current ratio of 1.02. WEX Inc. has a 52 week low of $146.03 and a 52 week high of $244.04.

WEX (NYSE:WEX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, topping analysts' consensus estimates of $2.97 by $0.16. WEX had a net margin of 11.78% and a return on equity of 32.35%. Sell-side analysts predict that WEX Inc. will post 14.09 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on WEX shares. Citigroup downgraded WEX from a "buy" rating to a "neutral" rating and cut their price objective for the company from $260.00 to $190.00 in a report on Tuesday, January 14th. William Blair restated a "market perform" rating on shares of WEX in a report on Thursday, February 6th. Jefferies Financial Group raised their price objective on shares of WEX from $180.00 to $190.00 and gave the company a "hold" rating in a report on Wednesday, January 22nd. Wells Fargo & Company reduced their target price on shares of WEX from $180.00 to $160.00 and set an "equal weight" rating on the stock in a report on Friday, February 7th. Finally, Barclays dropped their price target on shares of WEX from $200.00 to $155.00 and set an "equal weight" rating for the company in a research note on Monday, February 10th. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, WEX has a consensus rating of "Hold" and a consensus price target of $187.80.

WEX Company Profile

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.