7,268 Shares in WellCare Health Plans, Inc. (WCG) Acquired by Global Financial Private Capital LLC

Global Financial Private Capital LLC purchased a new position in WellCare Health Plans, Inc. (NYSE:WCG) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 7,268 shares of the company’s stock, valued at approximately $2,329,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CFO4Life Group LLC raised its position in shares of WellCare Health Plans by 9.3% in the 3rd quarter. CFO4Life Group LLC now owns 2,055 shares of the company’s stock worth $659,000 after acquiring an additional 174 shares in 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 worth $126,000 after acquiring an additional 182 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of WellCare Health Plans by 1.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 10,794 shares of the company’s stock worth $2,658,000 after acquiring an additional 182 shares in the last quarter. Public Employees Retirement Association of Colorado raised its position in shares of WellCare Health Plans by 2.0% in the 3rd quarter. Public Employees Retirement Association of Colorado now owns 9,122 shares of the company’s stock worth $2,924,000 after acquiring an additional 183 shares in the last quarter. Finally, 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 worth $117,000 after acquiring an additional 200 shares in the last quarter. 97.29% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:WCG opened at $273.32 on Friday. WellCare Health Plans, Inc. has a 1 year low of $187.06 and a 1 year high of $324.99. The stock has a market cap of $13.76 billion, a P/E ratio of 32.08, a price-to-earnings-growth ratio of 1.53 and a beta of 1.23. 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 for the quarter, beating 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 company’s revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the company earned $4.08 earnings per share. Research analysts expect that WellCare Health Plans, Inc. will post 11.01 EPS for the current fiscal year.

Several research analysts have recently commented on WCG shares. Barclays reissued a “buy” rating and issued a $325.00 price target on shares of WellCare Health Plans in a research report on Tuesday, September 18th. Morgan Stanley upped their target price on WellCare Health Plans from $280.00 to $330.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 5th. Zacks Investment Research lowered WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. BMO Capital Markets set a $345.00 target price on WellCare Health Plans and gave the company a “buy” rating in a research report on Friday, September 14th. Finally, Argus upped their target price on WellCare Health Plans from $265.00 to $360.00 and gave the company a “buy” rating in a research report on Friday, August 31st. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $301.13.

In other news, EVP Yount Michael sold 500 shares of the stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $263.38, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.59% of the stock is currently owned by corporate insiders.

WARNING: This news story was originally posted by WKRB News and is owned by of WKRB News. If you are accessing this news story on another publication, it was illegally copied and republished in violation of international copyright & trademark law. The legal version of this news story can be read at https://www.wkrb13.com/2018/11/11/7268-shares-in-wellcare-health-plans-inc-wcg-acquired-by-global-financial-private-capital-llc.html.

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.

Featured Story: Fundamental Analysis and Choosing Stocks

Want to see what other hedge funds are holding WCG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WellCare Health Plans, Inc. (NYSE:WCG).

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

Receive News & Ratings for WellCare Health Plans Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WellCare Health Plans and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply