WellCare Health Plans, Inc. (WCG) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its stake in WellCare Health Plans, Inc. (NYSE:WCG) by 48.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,772 shares of the company’s stock after selling 32,141 shares during the quarter. Mutual of America Capital Management LLC’s holdings in WellCare Health Plans were worth $10,824,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Financial Gravity Wealth Inc. raised its position in shares of WellCare Health Plans by 3,977.8% in the 3rd quarter. Financial Gravity Wealth Inc. now owns 367 shares of the company’s stock valued at $107,000 after purchasing an additional 358 shares during the last quarter. Private Capital Group LLC raised its position in shares of WellCare Health Plans by 234.0% in the 3rd quarter. Private Capital Group LLC now owns 334 shares of the company’s stock valued at $107,000 after purchasing an additional 234 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in shares of WellCare Health Plans by 100.0% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 400 shares of the company’s stock valued at $117,000 after purchasing an additional 200 shares during the last quarter. Harvest Fund Management Co. Ltd raised its position in shares of WellCare Health Plans by 55.2% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 512 shares of the company’s stock valued at $126,000 after purchasing an additional 182 shares during the last quarter. Finally, Cerebellum GP LLC purchased a new position in shares of WellCare Health Plans in the 3rd quarter valued at approximately $191,000. 98.53% of the stock is owned by hedge funds and other institutional investors.

WCG opened at $261.42 on Tuesday. WellCare Health Plans, Inc. has a 12-month low of $187.06 and a 12-month high of $324.99. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.51. The company has a market cap of $12.74 billion, a price-to-earnings ratio of 30.68, a price-to-earnings-growth ratio of 1.42 and a beta of 1.19.

WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings results on Tuesday, October 30th. The company reported $3.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.24. WellCare Health Plans had a net margin of 2.38% and a return on equity of 15.45%. The company had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.06 billion. During the same period last year, the firm posted $4.08 EPS. WellCare Health Plans’s revenue for the quarter was up 14.9% compared to the same quarter last year. Analysts expect that WellCare Health Plans, Inc. will post 11.01 EPS for the current year.

Several equities analysts recently commented on the stock. ValuEngine lowered shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Tuesday, November 20th. Cantor Fitzgerald reissued a “buy” rating and set a $330.00 price target on shares of WellCare Health Plans in a research report on Tuesday, October 30th. Evercore ISI initiated coverage on shares of WellCare Health Plans in a research report on Tuesday, October 9th. They set an “outperform” rating and a $365.00 price target for the company. Barclays reissued a “buy” rating and set a $338.00 price target on shares of WellCare Health Plans in a research report on Friday, September 28th. Finally, Wells Fargo & Co reissued a “buy” rating on shares of WellCare Health Plans in a research report on Wednesday, September 26th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $305.20.

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

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WellCare Health Plans Company 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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