Asset Management One Co. Ltd. Boosts Stock Holdings in WellCare Health Plans, Inc. (NYSE:WCG)

Asset Management One Co. Ltd. boosted its holdings in WellCare Health Plans, Inc. (NYSE:WCG) by 8.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,621 shares of the company’s stock after buying an additional 2,252 shares during the period. Asset Management One Co. Ltd. owned approximately 0.06% of WellCare Health Plans worth $8,159,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Cornerstone Advisors Inc. raised its position in WellCare Health Plans by 60.7% in the 1st quarter. Cornerstone Advisors Inc. now owns 196 shares of the company’s stock worth $53,000 after purchasing an additional 74 shares during the period. Raymond James & Associates increased its position in shares of WellCare Health Plans by 1.8% during the first quarter. Raymond James & Associates now owns 28,616 shares of the company’s stock valued at $7,719,000 after buying an additional 501 shares during the period. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of WellCare Health Plans by 14.0% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 3,664 shares of the company’s stock valued at $988,000 after buying an additional 449 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of WellCare Health Plans by 7.2% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 2,923 shares of the company’s stock valued at $788,000 after buying an additional 196 shares during the period. Finally, Mason Street Advisors LLC increased its position in shares of WellCare Health Plans by 1.2% during the first quarter. Mason Street Advisors LLC now owns 7,132 shares of the company’s stock valued at $1,924,000 after buying an additional 84 shares during the period. Institutional investors and hedge funds own 92.70% of the company’s stock.

Several brokerages recently issued reports on WCG. Stephens cut shares of WellCare Health Plans from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $330.00 to $317.00 in a research report on Monday, September 9th. Cantor Fitzgerald lowered shares of WellCare Health Plans from an “overweight” rating to a “neutral” rating in a research note on Tuesday, July 30th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. WellCare Health Plans currently has a consensus rating of “Hold” and a consensus target price of $304.83.

Shares of NYSE WCG traded up $0.64 during midday trading on Friday, hitting $264.45. The stock had a trading volume of 238,525 shares, compared to its average volume of 622,351. The business’s 50 day moving average is $266.20 and its 200-day moving average is $274.39. The company has a market cap of $13.21 billion, a P/E ratio of 23.98, a PEG ratio of 1.29 and a beta of 0.91. WellCare Health Plans, Inc. has a 52 week low of $220.63 and a 52 week high of $321.52. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.45.

WellCare Health Plans (NYSE:WCG) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $4.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.16 by $0.15. The company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.63 billion. WellCare Health Plans had a net margin of 2.09% and a return on equity of 14.95%. The firm’s revenue for the quarter was up 51.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.69 earnings per share. As a group, analysts expect that WellCare Health Plans, Inc. will post 14.01 EPS for the current fiscal year.

WellCare Health Plans Profile

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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