Sei Investments Co. Buys 626 Shares of WellCare Health Plans, Inc. (WCG)

Sei Investments Co. increased its stake in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 4.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 15,225 shares of the company’s stock after purchasing an additional 626 shares during the period. Sei Investments Co.’s holdings in WellCare Health Plans were worth $2,615,000 as of its most recent SEC filing.

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 during the 2nd quarter worth about $121,000. Advisory Services Network LLC lifted its holdings in WellCare Health Plans by 8.4% during the 2nd quarter. Advisory Services Network LLC now owns 866 shares of the company’s stock worth $155,000 after purchasing an additional 67 shares in the last quarter. Eagle Global Advisors LLC purchased a new stake in WellCare Health Plans during the 2nd quarter worth about $211,000. Harvest Fund Management Co. Ltd lifted its holdings in WellCare Health Plans by 29.3% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 1,318 shares of the company’s stock worth $237,000 after purchasing an additional 299 shares in the last quarter. Finally, CIBC Asset Management Inc purchased a new stake in WellCare Health Plans during the 2nd quarter worth about $251,000. 99.84% of the stock is currently owned by institutional investors and hedge funds.

Shares of WellCare Health Plans, Inc. (NYSE WCG) traded down $1.64 during trading on Friday, hitting $211.35. The stock had a trading volume of 359,479 shares, compared to its average volume of 310,155. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.28 and a quick ratio of 1.28. The company has a market cap of $9,482.65, a price-to-earnings ratio of 23.05, a PEG ratio of 1.64 and a beta of 0.82. WellCare Health Plans, Inc. has a 12-month low of $133.21 and a 12-month high of $213.97.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings data on Tuesday, October 31st. The company reported $4.08 EPS for the quarter, beating the consensus estimate of $1.90 by $2.18. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.37 billion. WellCare Health Plans had a return on equity of 19.42% and a net margin of 2.21%. The company’s revenue was up 22.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.63 EPS. analysts expect that WellCare Health Plans, Inc. will post 8.44 EPS for the current year.

A number of analysts recently issued reports on the company. Mitsubishi UFJ Financial Group assumed coverage on WellCare Health Plans in a report on Thursday, September 21st. They set an “overweight” rating and a $204.00 price objective on the stock. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $214.00 price target on shares of WellCare Health Plans in a report on Wednesday, November 1st. Zacks Investment Research raised WellCare Health Plans from a “hold” rating to a “buy” rating and set a $221.00 price target on the stock in a report on Thursday, November 2nd. Jefferies Group raised their price target on WellCare Health Plans from $190.00 to $210.00 and gave the company a “hold” rating in a report on Wednesday, November 1st. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and issued a $188.00 price target (up previously from $175.00) on shares of WellCare Health Plans in a report on Wednesday, November 1st. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $200.20.

In other news, CEO Kenneth A. Burdick sold 8,500 shares of the stock in a transaction dated Thursday, September 14th. The stock was 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 directly owns 23,627 shares in the company, valued at approximately $4,116,768.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carol Burt sold 997 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $202.20, for a total value of $201,593.40. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by corporate insiders.

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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.

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

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