State Treasurer State of Michigan Has $3.42 Million Stock Position in WellCare Health Plans, Inc. (NYSE:WCG)

State Treasurer State of Michigan lowered its stake in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 16.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,000 shares of the company’s stock after selling 2,400 shares during the period. State Treasurer State of Michigan’s holdings in WellCare Health Plans were worth $3,421,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Thrivent Financial for Lutherans raised its holdings in shares of WellCare Health Plans by 1.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 2,151 shares of the company’s stock valued at $508,000 after purchasing an additional 37 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of WellCare Health Plans by 1.3% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,150 shares of the company’s stock valued at $850,000 after purchasing an additional 40 shares during the period. Advisor Partners LLC raised its holdings in shares of WellCare Health Plans by 4.8% during the first quarter. Advisor Partners LLC now owns 911 shares of the company’s stock valued at $246,000 after purchasing an additional 42 shares during the period. World Asset Management Inc raised its holdings in shares of WellCare Health Plans by 1.6% during the second quarter. World Asset Management Inc now owns 3,635 shares of the company’s stock valued at $1,036,000 after purchasing an additional 58 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC raised its holdings in shares of WellCare Health Plans by 0.8% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 7,596 shares of the company’s stock valued at $2,049,000 after purchasing an additional 62 shares during the period. Hedge funds and other institutional investors own 98.65% of the company’s stock.

WCG stock traded down $2.50 during trading on Friday, reaching $276.00. The stock had a trading volume of 297,504 shares, compared to its average volume of 543,827. WellCare Health Plans, Inc. has a one year low of $220.63 and a one year high of $324.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a 50 day moving average price of $286.47. The stock has a market cap of $13.91 billion, a P/E ratio of 25.02, a price-to-earnings-growth ratio of 1.37 and a beta of 0.93.

WellCare Health Plans (NYSE:WCG) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $4.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.16 by $0.15. WellCare Health Plans had a net margin of 2.09% and a return on equity of 14.95%. The business had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.63 billion. During the same period in the prior year, the firm posted $3.69 EPS. The firm’s quarterly revenue was up 51.1% compared to the same quarter last year. Equities research analysts anticipate that WellCare Health Plans, Inc. will post 13.91 EPS for the current year.

Several equities research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. Credit Suisse Group assumed coverage on shares of WellCare Health Plans in a research report on Monday, April 15th. They set a “neutral” rating and a $307.00 target price for the company. Wells Fargo & Co decreased their target price on shares of WellCare Health Plans from $330.00 to $320.00 and set an “outperform” rating for the company in a research report on Wednesday, May 8th. Cantor Fitzgerald downgraded shares of WellCare Health Plans from an “overweight” rating to a “neutral” rating in a research report on Tuesday, July 30th. Finally, BMO Capital Markets downgraded shares of WellCare Health Plans from an “outperform” rating to a “market perform” rating and set a $304.00 target price for the company. in a research report on Monday, June 3rd. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $320.10.

About WellCare Health Plans

WellCare Health Plans, Inc provides government-sponsored managed care services. The company operates in three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare Prescription Drug Plans (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 programs 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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