WellCare Health Plans, Inc. (WCG) Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH trimmed its holdings in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 15.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 265,557 shares of the company’s stock after selling 48,278 shares during the period. Allianz Asset Management GmbH owned approximately 0.60% of WellCare Health Plans worth $45,607,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Convergence Investment Partners LLC increased its holdings in shares of WellCare Health Plans by 3.5% during the third quarter. Convergence Investment Partners LLC now owns 14,350 shares of the company’s stock valued at $2,464,000 after purchasing an additional 487 shares during the period. National Asset Management Inc. increased its holdings in shares of WellCare Health Plans by 99.0% during the third quarter. National Asset Management Inc. now owns 3,224 shares of the company’s stock valued at $567,000 after purchasing an additional 1,604 shares during the period. OxFORD Asset Management LLP increased its holdings in shares of WellCare Health Plans by 20.6% during the third quarter. OxFORD Asset Management LLP now owns 23,884 shares of the company’s stock valued at $4,104,000 after purchasing an additional 4,082 shares during the period. Fort L.P. increased its holdings in shares of WellCare Health Plans by 16.7% during the third quarter. Fort L.P. now owns 175,558 shares of the company’s stock valued at $30,150,000 after purchasing an additional 25,117 shares during the period. Finally, Campbell & CO Investment Adviser LLC increased its holdings in shares of WellCare Health Plans by 29.2% during the third quarter. Campbell & CO Investment Adviser LLC now owns 1,951 shares of the company’s stock valued at $335,000 after purchasing an additional 441 shares during the period. 99.91% of the stock is currently owned by institutional investors.

WellCare Health Plans, Inc. (WCG) traded up $0.67 during trading hours on Thursday, reaching $207.47. The company had a trading volume of 485,200 shares, compared to its average volume of 363,564. The firm has a market capitalization of $9,207.06, a price-to-earnings ratio of 22.38, a P/E/G ratio of 1.59 and a beta of 0.82. WellCare Health Plans, Inc. has a 1 year low of $133.21 and a 1 year high of $213.97. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51.

WellCare Health Plans (NYSE:WCG) last released its earnings results on Tuesday, October 31st. The company reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. WellCare Health Plans’s revenue was up 22.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.63 earnings per share. equities analysts anticipate that WellCare Health Plans, Inc. will post 8.44 earnings per share for the current fiscal year.

In related news, Director Carol Burt sold 997 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $202.20, for a total value of $201,593.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kenneth A. Burdick sold 8,500 shares of the 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 approximately $4,116,768.48. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

A number of brokerages have recently commented on WCG. Bank of America raised their price target on WellCare Health Plans from $210.00 to $215.00 and gave the company a “neutral” rating in a report on Friday, November 17th. Deutsche Bank raised their price target on WellCare Health Plans to $240.00 and gave the company a “buy” rating in a report on Monday, November 20th. Zacks Investment Research raised WellCare Health Plans from a “hold” rating to a “buy” rating and set a $221.00 price target on the stock in a report on Thursday, November 2nd. Jefferies Group raised their price target on WellCare Health Plans from $190.00 to $210.00 and gave the company a “hold” rating in a report on Wednesday, November 1st. Finally, Wells Fargo & Company reissued a “market perform” rating and set a $188.00 price target (up from $175.00) on shares of WellCare Health Plans in a report on Wednesday, November 1st. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $200.20.

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WellCare Health Plans Company 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.

Institutional Ownership by Quarter for WellCare Health Plans (NYSE:WCG)

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