5,413 Shares in WellCare Health Plans, Inc. (NYSE:WCG) Acquired by ING Groep NV

ING Groep NV acquired a new stake in shares of WellCare Health Plans, Inc. (NYSE:WCG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,413 shares of the company’s stock, valued at approximately $972,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in shares of WellCare Health Plans by 7,347.7% in the first quarter. BlackRock Inc. now owns 4,195,120 shares of the company’s stock worth $588,199,000 after buying an additional 4,138,792 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of WellCare Health Plans by 157.2% in the first quarter. Renaissance Technologies LLC now owns 618,300 shares of the company’s stock worth $86,692,000 after buying an additional 377,900 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of WellCare Health Plans by 18.8% in the first quarter. AQR Capital Management LLC now owns 2,114,365 shares of the company’s stock worth $296,455,000 after buying an additional 334,095 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of WellCare Health Plans by 5.5% in the first quarter. Vanguard Group Inc. now owns 4,435,885 shares of the company’s stock worth $621,956,000 after buying an additional 231,890 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of WellCare Health Plans during the first quarter worth about $15,123,000. 98.71% of the stock is currently owned by institutional investors.

WellCare Health Plans, Inc. (NYSE:WCG) traded up 0.21% during trading on Friday, reaching $172.39. The company had a trading volume of 319,511 shares. The stock has a market cap of $7.67 billion, a P/E ratio of 30.29 and a beta of 0.84. The firm has a 50-day moving average price of $179.68 and a 200 day moving average price of $160.58. WellCare Health Plans, Inc. has a 12-month low of $109.74 and a 12-month high of $184.88.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings data on Friday, August 4th. The company reported $2.52 EPS for the quarter, beating the Zacks’ consensus estimate of $2.23 by $0.29. The business had revenue of $4.31 billion during the quarter, compared to analyst estimates 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 for the quarter was up 19.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.23 earnings per share. Equities research analysts predict that WellCare Health Plans, Inc. will post $6.99 EPS for the current fiscal year.

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WCG has been the topic of a number of analyst reports. Jefferies Group LLC reaffirmed a “hold” rating and set a $142.00 target price on shares of WellCare Health Plans in a research report on Wednesday, April 19th. Zacks Investment Research raised WellCare Health Plans from a “hold” rating to a “buy” rating and set a $172.00 target price on the stock in a research report on Monday, May 1st. Wolfe Research reaffirmed a “market perform” rating on shares of WellCare Health Plans in a research report on Friday, May 5th. Morgan Stanley initiated coverage on WellCare Health Plans in a research report on Tuesday, June 6th. They set an “equal weight” rating and a $183.00 target price on the stock. Finally, Leerink Swann reaffirmed an “outperform” rating and set a $225.00 target price (up from $185.00) on shares of WellCare Health Plans in a research report on Thursday, June 22nd. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. WellCare Health Plans presently has an average rating of “Hold” and an average price target of $172.00.

In related news, VP Michael Troy Meyer sold 600 shares of the stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $171.86, for a total value of $103,116.00. Following the completion of the transaction, the vice president now owns 73 shares of the company’s stock, valued at $12,545.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kelly A. Munson sold 3,000 shares of the stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $173.71, for a total transaction of $521,130.00. Following the completion of the transaction, the executive vice president now directly owns 4,243 shares of the company’s stock, valued at approximately $737,051.53. The disclosure for this sale can be found here. Insiders sold 12,914 shares of company stock valued at $2,255,369 in the last three months. Company insiders own 0.50% of the company’s stock.

WellCare Health Plans Company Profile

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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