Chicago Equity Partners LLC Has $10.82 Million Holdings in WellCare Health Plans, Inc. (WCG)
Chicago Equity Partners LLC decreased its position in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 55.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,972 shares of the company’s stock after selling 77,483 shares during the period. Chicago Equity Partners LLC owned approximately 0.14% of WellCare Health Plans worth $10,815,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Legal & General Group Plc grew its position in shares of WellCare Health Plans by 9.1% during the second quarter. Legal & General Group Plc now owns 58,653 shares of the company’s stock valued at $10,528,000 after purchasing an additional 4,893 shares in the last quarter. Artemis Investment Management LLP purchased a new position in WellCare Health Plans in the second quarter worth about $7,486,000. State of Tennessee Treasury Department grew its position in WellCare Health Plans by 25.0% in the second quarter. State of Tennessee Treasury Department now owns 50,000 shares of the company’s stock worth $8,978,000 after acquiring an additional 10,000 shares in the last quarter. Pacer Advisors Inc. grew its position in WellCare Health Plans by 3.2% in the second quarter. Pacer Advisors Inc. now owns 6,372 shares of the company’s stock worth $1,144,000 after acquiring an additional 195 shares in the last quarter. Finally, Globeflex Capital L P grew its position in WellCare Health Plans by 155.8% in the second quarter. Globeflex Capital L P now owns 16,449 shares of the company’s stock worth $2,954,000 after acquiring an additional 10,018 shares in the last quarter. Hedge funds and other institutional investors own 97.84% of the company’s stock.
WCG has been the subject of several recent research reports. Deutsche Bank AG lifted their price target on WellCare Health Plans from $185.00 to $192.00 and gave the stock a “buy” rating in a research report on Thursday, July 13th. Cantor Fitzgerald reiterated a “buy” rating and issued a $195.00 price target on shares of WellCare Health Plans in a research report on Saturday, August 26th. Zacks Investment Research downgraded shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. Bank of America Corporation raised their price objective on shares of WellCare Health Plans from $185.00 to $189.00 and gave the stock a “neutral” rating in a research note on Friday, July 14th. Finally, Mitsubishi UFJ Financial Group began coverage on shares of WellCare Health Plans in a research note on Thursday, September 21st. They issued an “overweight” rating and a $204.00 price objective for the company. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $190.25.
WellCare Health Plans, Inc. (WCG) traded down $1.05 during midday trading on Monday, reaching $205.45. 26,039 shares of the company’s stock traded hands, compared to its average volume of 441,422. The firm has a market capitalization of $9,193.70, a PE ratio of 22.35, a price-to-earnings-growth ratio of 1.59 and a beta of 0.81. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.28 and a quick ratio of 1.28.
WellCare Health Plans (NYSE:WCG) last issued its earnings results on Tuesday, October 31st. The company reported $4.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $2.18. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.37 billion. WellCare Health Plans had a return on equity of 19.42% and a net margin of 2.21%. The business’s revenue was up 22.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.63 earnings per share. equities research analysts anticipate that WellCare Health Plans, Inc. will post 8.45 earnings per share for the current fiscal year.
In other news, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of WellCare Health Plans stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $171.97, for a total value of $1,440,076.78. Following the completion of the transaction, the director now directly owns 5,722 shares in the company, valued at $984,012.34. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Kenneth A. Burdick sold 8,500 shares of WellCare Health Plans stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $174.24, for a total value of $1,481,040.00. Following the completion of the transaction, the chief executive officer now owns 23,627 shares of the company’s stock, valued at $4,116,768.48. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.
WellCare Health Plans Profile
WellCare Health Plans, Inc is a managed care company. The Company focuses on government-sponsored managed care services, primarily through Medicaid, Medicare Advantage (MA) and Medicare Prescription Drug Plans (PDPs), to families, children, seniors and individuals with medical needs. The Company operates through three segments: Medicaid Health Plans, Medicare Health Plans and Medicare PDPs.
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