The Manufacturers Life Insurance Company Acquires New Stake in WEX Inc. $WEX

Posted by Francis Steltz on Sep 2nd, 2026

The Manufacturers Life Insurance Company bought a new position in shares of WEX Inc. (NYSE:WEX – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 24,664 shares of the business services provider’s stock, valued at approximately $3,480,000. The Manufacturers Life Insurance Company owned approximately 0.07% of WEX as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of WEX during the 2nd quarter valued at about $446,833,000. AQR Capital Management LLC grew its holdings in shares of WEX by 794.0% during the fourth quarter. AQR Capital Management LLC now owns 889,802 shares of the business services provider’s stock worth $132,563,000 after purchasing an additional 790,271 shares in the last quarter. Turtle Creek Asset Management Inc. bought a new position in shares of WEX in the third quarter worth approximately $93,289,000. Par Capital Management Inc. increased its position in shares of WEX by 21.6% in the fourth quarter. Par Capital Management Inc. now owns 2,252,000 shares of the business services provider’s stock worth $335,503,000 after purchasing an additional 400,500 shares during the last quarter. Finally, Norges Bank purchased a new stake in WEX in the fourth quarter valued at approximately $50,202,000. Hedge funds and other institutional investors own 97.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on WEX shares. Weiss Ratings upgraded shares of WEX from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 7th. Morgan Stanley raised their price objective on shares of WEX from $161.00 to $172.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. Wall Street Zen downgraded shares of WEX from a “buy” rating to a “hold” rating in a report on Sunday, May 24th. Deutsche Bank Aktiengesellschaft cut their target price on shares of WEX from $180.00 to $160.00 and set a “hold” rating for the company in a research report on Friday, June 12th. Finally, Mizuho raised their price target on WEX from $170.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, WEX currently has an average rating of “Hold” and an average target price of $183.30.

Get Our Latest Stock Analysis on WEX

WEX Stock Down 0.9%

Shares of NYSE WEX opened at $188.80 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 2.62. WEX Inc. has a 52 week low of $125.29 and a 52 week high of $203.99. The firm’s fifty day moving average is $173.67 and its 200 day moving average is $159.28. The company has a market cap of $6.43 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 0.99 and a beta of 0.83.

WEX (NYSE:WEX – Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $5.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.08 by $0.27. The business had revenue of $753.50 million for the quarter, compared to analyst estimates of $740.72 million. WEX had a net margin of 12.56% and a return on equity of 43.19%. The company’s revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the firm earned $3.95 EPS. WEX has set its Q3 2026 guidance at 5.450-5.650 EPS and its FY 2026 guidance at 19.680-20.080 EPS. On average, equities research analysts expect that WEX Inc. will post 17.11 earnings per share for the current year.

WEX announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 14th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to reacquire up to 21.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, COO Robert Joseph Deshaies sold 1,000 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $184.95, for a total transaction of $184,950.00. Following the transaction, the chief operating officer owned 19,288 shares in the company, valued at $3,567,315.60. The trade was a 4.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Carlos Carriedo sold 1,075 shares of WEX stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $186.00, for a total value of $199,950.00. Following the completion of the sale, the chief operating officer owned 11,076 shares in the company, valued at approximately $2,060,136. This represents a 8.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 8,658 shares of company stock valued at $1,489,027 over the last three months. Company insiders own 1.40% of the company’s stock.

About WEX

(Free Report)

WEX Inc is a global financial technology company specializing in business payment solutions for fleet, travel, and corporate payments. The company delivers software-driven platforms and card-based services that help businesses automate payment processes, manage expenses and improve operational efficiency across a range of industries, including transportation, healthcare and government.

Founded in 1983 as Wright Express in Portland, Maine, the company began by offering fuel card services to trucking fleets.