Jane Street Group LLC reduced its stake in WellCare Health Plans, Inc. (NYSE:WCG) by 51.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,187 shares of the company’s stock after selling 5,570 shares during the period. Jane Street Group LLC’s holdings in WellCare Health Plans were worth $607,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Advisory Services Network LLC acquired a new position in shares of WellCare Health Plans during the third quarter valued at $104,000. MSI Financial Services Inc raised its position in shares of WellCare Health Plans by 40.4% in the third quarter. MSI Financial Services Inc now owns 1,143 shares of the company’s stock valued at $134,000 after buying an additional 329 shares during the last quarter. BlackRock Japan Co. Ltd raised its position in shares of WellCare Health Plans by 95.8% in the third quarter. BlackRock Japan Co. Ltd now owns 1,400 shares of the company’s stock valued at $164,000 after buying an additional 685 shares during the last quarter. Marietta Investment Partners LLC acquired a new position in shares of WellCare Health Plans during the third quarter valued at $210,000. Finally, First Citizens Bank & Trust Co. acquired a new position in shares of WellCare Health Plans during the second quarter valued at $235,000.
Shares of WellCare Health Plans, Inc. (NYSE:WCG) traded down 0.29% during mid-day trading on Friday, hitting $142.55. The stock had a trading volume of 523,932 shares. WellCare Health Plans, Inc. has a 12-month low of $81.14 and a 12-month high of $151.93. The stock has a market cap of $6.31 billion, a P/E ratio of 26.25 and a beta of 1.00. The company’s 50 day moving average price is $142.98 and its 200 day moving average price is $125.81.
WellCare Health Plans (NYSE:WCG) last released its earnings results on Tuesday, February 7th. The company reported $1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.51. The firm earned $3.52 billion during the quarter, compared to analysts’ expectations of $3.56 billion. WellCare Health Plans had a net margin of 1.70% and a return on equity of 14.01%. WellCare Health Plans’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 EPS. Equities research analysts predict that WellCare Health Plans, Inc. will post $6.39 EPS for the current fiscal year.
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WCG has been the subject of several analyst reports. Barclays PLC increased their price objective on WellCare Health Plans from $146.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Stifel Nicolaus cut WellCare Health Plans from a “buy” rating to a “hold” rating and set a $147.00 price target on the stock. in a research note on Wednesday, January 4th. They noted that the move was a valuation call. Jefferies Group LLC restated a “hold” rating and set a $137.00 price target (up from $134.00) on shares of WellCare Health Plans in a research note on Wednesday, December 21st. Cantor Fitzgerald restated a “hold” rating on shares of WellCare Health Plans in a research note on Tuesday. Finally, J P Morgan Chase & Co cut WellCare Health Plans from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 31st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $123.83.
In other WellCare Health Plans news, Director Paul E. Weaver sold 3,000 shares of WellCare Health Plans stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $128.83, for a total value of $386,490.00. Following the completion of the sale, the director now directly owns 15,892 shares of the company’s stock, valued at approximately $2,047,366.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by insiders.
WellCare Health Plans Company Profile
WellCare Health Plans, Inc is a managed care company focused 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 complex medical needs. The Company’s segments include Medicaid Health Plans, Medicare Health Plans and Medicare PDPs.
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