Great Lakes Advisors LLC Buys 338 Shares of WellCare Health Plans, Inc. (WCG)
Great Lakes Advisors LLC raised its stake in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 13.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,764 shares of the company’s stock after buying an additional 338 shares during the period. Great Lakes Advisors LLC’s holdings in WellCare Health Plans were worth $886,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Belpointe Asset Management LLC bought a new position in WellCare Health Plans during the third quarter valued at about $587,000. Vanguard Group Inc. raised its holdings in WellCare Health Plans by 26.1% during the third quarter. Vanguard Group Inc. now owns 5,602,927 shares of the company’s stock valued at $1,795,681,000 after buying an additional 1,159,497 shares in the last quarter. Legal & General Group Plc raised its holdings in WellCare Health Plans by 164.1% during the third quarter. Legal & General Group Plc now owns 180,702 shares of the company’s stock valued at $57,913,000 after buying an additional 112,276 shares in the last quarter. Kepos Capital LP raised its holdings in WellCare Health Plans by 441.0% during the third quarter. Kepos Capital LP now owns 21,608 shares of the company’s stock valued at $6,925,000 after buying an additional 17,614 shares in the last quarter. Finally, Standard Life Aberdeen plc raised its holdings in WellCare Health Plans by 327.9% during the third quarter. Standard Life Aberdeen plc now owns 24,184 shares of the company’s stock valued at $7,751,000 after buying an additional 18,532 shares in the last quarter. Institutional investors own 98.53% of the company’s stock.
In other news, Director H James Dallas purchased 1,171 shares of the stock in a transaction that occurred on Tuesday, December 4th. The shares were purchased at an average cost of $256.35 per share, for a total transaction of $300,185.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Yount Michael sold 500 shares of the business’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $263.38, for a total value of $131,690.00. Following the transaction, the executive vice president now owns 7,044 shares in the company, valued at $1,855,248.72. The disclosure for this sale can be found here. Insiders sold 7,647 shares of company stock worth $1,924,167 over the last quarter. 0.59% of the stock is currently owned by corporate insiders.
WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings data on Tuesday, October 30th. The company reported $3.33 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.24. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.06 billion. WellCare Health Plans had a return on equity of 15.45% and a net margin of 2.38%. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the company posted $4.08 earnings per share. Analysts anticipate that WellCare Health Plans, Inc. will post 11.01 EPS for the current year.
Several research firms have weighed in on WCG. Argus raised their target price on WellCare Health Plans from $265.00 to $360.00 and gave the company a “buy” rating in a report on Friday, August 31st. Cantor Fitzgerald raised their target price on WellCare Health Plans from $292.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, September 17th. BMO Capital Markets set a $345.00 target price on WellCare Health Plans and gave the company a “buy” rating in a report on Friday, September 14th. Wells Fargo & Co restated a “buy” rating on shares of WellCare Health Plans in a report on Wednesday, September 26th. Finally, Evercore ISI began coverage on WellCare Health Plans in a research note on Tuesday, October 9th. They issued an “outperform” rating and a $365.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $305.20.
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About WellCare Health Plans
WellCare Health Plans, Inc provides managed care services for government-sponsored health care programs. It operates through three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare PDPs. The Medicaid Health Plans segment offers plans for beneficiaries of temporary assistance for needy families, supplemental security income, and aged blind and disabled residents; and other state-based programs, such as children's health insurance programs and long-term services and supports for qualifying families who are not eligible for Medicaid.
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