WellCare Health Plans, Inc. (NYSE:WCG) Shares Sold by KBC Group NV

KBC Group NV reduced its position in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 21.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,209 shares of the company’s stock after selling 619 shares during the period. KBC Group NV’s holdings in WellCare Health Plans were worth $397,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. World Asset Management Inc grew its position in shares of WellCare Health Plans by 0.3% during the 2nd quarter. World Asset Management Inc now owns 3,428 shares of the company’s stock valued at $616,000 after purchasing an additional 11 shares in the last quarter. Neuberger Berman Group LLC grew its position in shares of WellCare Health Plans by 1.1% during the 1st quarter. Neuberger Berman Group LLC now owns 1,539 shares of the company’s stock valued at $216,000 after purchasing an additional 16 shares in the last quarter. Creative Planning grew its position in shares of WellCare Health Plans by 3.0% during the 1st quarter. Creative Planning now owns 862 shares of the company’s stock valued at $121,000 after purchasing an additional 25 shares in the last quarter. Meeder Asset Management Inc. grew its position in shares of WellCare Health Plans by 0.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 9,779 shares of the company’s stock valued at $1,755,000 after purchasing an additional 63 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its position in shares of WellCare Health Plans by 2.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 3,551 shares of the company’s stock valued at $638,000 after purchasing an additional 77 shares in the last quarter. Hedge funds and other institutional investors own 97.78% of the company’s stock.

A number of research analysts have recently commented on WCG shares. Morgan Stanley started coverage on shares of WellCare Health Plans in a research report on Tuesday, June 6th. They set an “equal weight” rating and a $183.00 price target for the company. Jefferies Group LLC restated a “hold” rating and set a $170.00 price target on shares of WellCare Health Plans in a research report on Thursday, June 8th. Leerink Swann restated an “outperform” rating and set a $225.00 price target (up from $185.00) on shares of WellCare Health Plans in a research report on Thursday, June 22nd. Credit Suisse Group restated a “neutral” rating and set a $163.00 price target (up from $155.00) on shares of WellCare Health Plans in a research report on Thursday, July 13th. Finally, Deutsche Bank AG boosted their price target on shares of WellCare Health Plans from $185.00 to $192.00 and gave the company a “buy” rating in a research report on Thursday, July 13th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $176.23.

In other WellCare Health Plans news, CEO Kenneth A. Burdick sold 8,500 shares of WellCare Health Plans stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $174.24, for a total value of $1,481,040.00. Following the completion of the transaction, the chief executive officer now directly owns 23,627 shares of the company’s stock, valued at approximately $4,116,768.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of WellCare Health Plans stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $171.97, for a total transaction of $1,440,076.78. Following the completion of the transaction, the director now directly owns 5,722 shares of the company’s stock, valued at $984,012.34. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Shares of WellCare Health Plans, Inc. (NYSE:WCG) opened at 167.16 on Friday. WellCare Health Plans, Inc. has a 52-week low of $112.40 and a 52-week high of $184.88. The firm’s 50-day moving average is $173.61 and its 200 day moving average is $166.40. The stock has a market capitalization of $7.44 billion, a price-to-earnings ratio of 29.37 and a beta of 0.88.

WellCare Health Plans (NYSE:WCG) last issued its quarterly earnings data on Friday, August 4th. The company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.29. WellCare Health Plans had a net margin of 1.66% and a return on equity of 14.91%. The business had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.23 billion. During the same period last year, the company posted $2.23 EPS. The business’s revenue was up 19.8% on a year-over-year basis. Equities analysts expect that WellCare Health Plans, Inc. will post $6.98 EPS for the current year.

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About WellCare Health Plans

WellCare Health Plans, Inc is a managed care company. The Company focuses 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 medical needs. The Company operates through three segments: Medicaid Health Plans, Medicare Health Plans and Medicare PDPs.

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

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