Hsbc Holdings PLC Buys 17,747 Shares of WellCare Health Plans, Inc. (WCG)

Hsbc Holdings PLC raised its stake in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 85.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,575 shares of the company’s stock after purchasing an additional 17,747 shares during the period. Hsbc Holdings PLC owned 0.08% of WellCare Health Plans worth $12,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Burney Co. purchased a new stake in WellCare Health Plans during the second quarter valued at approximately $431,000. MetLife Investment Advisors LLC raised its position in WellCare Health Plans by 1.2% during the second quarter. MetLife Investment Advisors LLC now owns 28,129 shares of the company’s stock valued at $6,926,000 after purchasing an additional 340 shares during the period. Schwab Charles Investment Management Inc. raised its position in WellCare Health Plans by 8.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 183,158 shares of the company’s stock valued at $45,101,000 after purchasing an additional 14,715 shares during the period. Meadow Creek Investment Management LLC raised its holdings in shares of WellCare Health Plans by 1.7% in the second quarter. Meadow Creek Investment Management LLC now owns 46,992 shares of the company’s stock worth $11,571,000 after buying an additional 792 shares during the period. Finally, Rhumbline Advisers raised its holdings in shares of WellCare Health Plans by 3.0% in the third quarter. Rhumbline Advisers now owns 101,936 shares of the company’s stock worth $32,669,000 after buying an additional 2,976 shares during the period. Institutional investors and hedge funds own 98.53% of the company’s stock.

In related news, Director Richard C. Breon sold 2,500 shares of the stock in a transaction that occurred on Tuesday, November 27th. The stock was sold at an average price of $239.96, for a total value of $599,900.00. Following the transaction, the director now owns 6,406 shares of the company’s stock, valued at $1,537,183.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Yount Michael sold 500 shares of the stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $263.38, for a total value of $131,690.00. Following the completion of the transaction, the executive vice president now directly owns 7,044 shares in the company, valued at approximately $1,855,248.72. The disclosure for this sale can be found here. 0.59% of the stock is owned by corporate insiders.

Several equities research analysts have recently weighed in on WCG shares. Argus increased their price target on WellCare Health Plans from $265.00 to $360.00 and gave the stock a “buy” rating in a report on Friday, August 31st. Morgan Stanley increased their price target on WellCare Health Plans from $280.00 to $330.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 5th. BMO Capital Markets set a $345.00 price target on WellCare Health Plans and gave the stock a “buy” rating in a report on Friday, September 14th. Cantor Fitzgerald increased their price target on WellCare Health Plans from $292.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, September 17th. Finally, Barclays reiterated a “buy” rating and issued a $325.00 price target on shares of WellCare Health Plans in a report on Tuesday, September 18th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. WellCare Health Plans presently has an average rating of “Buy” and an average target price of $305.20.

Shares of NYSE:WCG opened at $261.42 on Tuesday. WellCare Health Plans, Inc. has a 52-week low of $187.06 and a 52-week high of $324.99. The company has a market capitalization of $12.74 billion, a P/E ratio of 30.68, a PEG ratio of 1.42 and a beta of 1.19. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.51.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings data on Tuesday, October 30th. The company reported $3.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.24. WellCare Health Plans had a return on equity of 15.45% and a net margin of 2.38%. The company had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter in the prior year, the firm earned $4.08 earnings per share. WellCare Health Plans’s revenue was up 14.9% compared to the same quarter last year. As a group, equities research analysts predict that WellCare Health Plans, Inc. will post 11.01 earnings per share for the current fiscal year.

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WellCare Health Plans Profile

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

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