WellCare Health Plans, Inc. (WCG) Shares Sold by Pinebridge Investments L.P.

Pinebridge Investments L.P. reduced its stake in WellCare Health Plans, Inc. (NYSE:WCG) by 15.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 52,567 shares of the company’s stock after selling 9,620 shares during the period. Pinebridge Investments L.P. owned approximately 0.12% of WellCare Health Plans worth $9,439,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of WCG. State of Alaska Department of Revenue purchased a new stake in WellCare Health Plans in the 2nd quarter valued at about $121,000. Eagle Global Advisors LLC purchased a new stake in WellCare Health Plans in the 2nd quarter valued at about $211,000. Neuberger Berman Group LLC raised its holdings in WellCare Health Plans by 1.1% in the 1st quarter. Neuberger Berman Group LLC now owns 1,539 shares of the company’s stock valued at $216,000 after buying an additional 16 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new stake in WellCare Health Plans in the 1st quarter valued at about $217,000. Finally, National Asset Management Inc. purchased a new stake in WellCare Health Plans in the 1st quarter valued at about $232,000. Hedge funds and other institutional investors own 97.78% of the company’s stock.

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

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WellCare Health Plans, Inc. (NYSE:WCG) traded down 0.39% during mid-day trading on Wednesday, hitting $167.50. 106,214 shares of the company were exchanged. The firm has a 50 day moving average price of $173.61 and a 200 day moving average price of $166.40. The stock has a market cap of $7.46 billion, a price-to-earnings ratio of 29.43 and a beta of 0.88. WellCare Health Plans, Inc. has a 12 month low of $112.40 and a 12 month high of $184.88.

WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings results on Friday, August 4th. The company reported $2.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.23 by $0.29. The company had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.23 billion. WellCare Health Plans had a net margin of 1.66% and a return on equity of 14.91%. The firm’s revenue was up 19.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.23 EPS. Analysts anticipate that WellCare Health Plans, Inc. will post $6.99 EPS for the current fiscal year.

Several brokerages recently issued reports on WCG. Morgan Stanley boosted their price objective on shares of WellCare Health Plans from $183.00 to $184.00 and gave the company an “equal weight” rating in a report on Monday, August 7th. Zacks Investment Research upgraded shares of WellCare Health Plans from a “hold” rating to a “buy” rating and set a $193.00 price objective on the stock in a report on Friday, August 11th. BidaskClub lowered shares of WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Jefferies Group LLC restated a “hold” rating and issued a $170.00 price objective on shares of WellCare Health Plans in a report on Thursday, June 8th. Finally, ValuEngine upgraded shares of WellCare Health Plans from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $173.92.

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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