Russell Investments Group Ltd. Boosts Holdings in WellCare Health Plans, Inc. (WCG)

Russell Investments Group Ltd. raised its position in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 7.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 533,384 shares of the company’s stock after acquiring an additional 36,198 shares during the quarter. Russell Investments Group Ltd. owned approximately 1.20% of WellCare Health Plans worth $91,603,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of WCG. Capital Research Global Investors bought a new stake in WellCare Health Plans during the 2nd quarter valued at approximately $170,042,000. American Century Companies Inc. lifted its holdings in shares of WellCare Health Plans by 712.9% during the second quarter. American Century Companies Inc. now owns 371,561 shares of the company’s stock valued at $66,717,000 after purchasing an additional 325,853 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of WellCare Health Plans by 37.7% during the second quarter. Renaissance Technologies LLC now owns 851,293 shares of the company’s stock valued at $152,858,000 after purchasing an additional 232,993 shares during the last quarter. Janus Henderson Group PLC purchased a new position in shares of WellCare Health Plans during the second quarter valued at approximately $30,078,000. Finally, FMR LLC lifted its holdings in shares of WellCare Health Plans by 285.7% during the second quarter. FMR LLC now owns 211,664 shares of the company’s stock valued at $38,007,000 after purchasing an additional 156,786 shares during the last quarter. 98.17% of the stock is currently owned by institutional investors and hedge funds.

In other WellCare Health Plans news, Director Carol Burt sold 997 shares of the company’s 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Kenneth A. Burdick sold 8,500 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 23,627 shares in the company, valued at $4,116,768.48. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

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Shares of WellCare Health Plans, Inc. (NYSE WCG) traded down $1.91 during midday trading on Thursday, hitting $198.20. 433,300 shares of the stock traded hands, compared to its average volume of 365,649. 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 stock has a market cap of $8,909.21, a PE ratio of 21.66, a price-to-earnings-growth ratio of 1.54 and a beta of 0.81. WellCare Health Plans, Inc. has a 52-week low of $125.00 and a 52-week high of $208.89.

WellCare Health Plans (NYSE:WCG) last announced its earnings results on Tuesday, October 31st. The company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $2.18. WellCare Health Plans had a net margin of 2.21% and a return on equity of 19.42%. The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.37 billion. During the same period in the prior year, the company earned $1.63 EPS. The business’s revenue was up 22.8% compared to the same quarter last year. equities analysts forecast that WellCare Health Plans, Inc. will post 8.46 EPS for the current fiscal year.

A number of brokerages recently weighed in on WCG. Mitsubishi UFJ Financial Group began coverage on shares of WellCare Health Plans in a report on Thursday, September 21st. They issued an “overweight” rating and a $204.00 price objective for the company. BidaskClub lowered shares of WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Piper Jaffray Companies reiterated a “buy” rating and set a $214.00 target price on shares of WellCare Health Plans in a research note on Wednesday, November 1st. Zacks Investment Research upgraded shares of WellCare Health Plans from a “hold” rating to a “buy” rating and set a $221.00 target price for the company in a research note on Thursday, November 2nd. Finally, Wells Fargo & Company reiterated a “market perform” rating and set a $188.00 target price (up from $175.00) on shares of WellCare Health Plans in a research note on Wednesday, November 1st. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $195.27.

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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