First Trust Advisors LP grew its holdings in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 3.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 149,372 shares of the company’s stock after purchasing an additional 4,444 shares during the quarter. First Trust Advisors LP owned about 0.34% of WellCare Health Plans worth $25,653,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. M&T Bank Corp raised its holdings in shares of WellCare Health Plans by 0.3% during the 2nd quarter. M&T Bank Corp now owns 2,088 shares of the company’s stock valued at $376,000 after purchasing an additional 6 shares in the last quarter. World Asset Management Inc raised its holdings in shares of WellCare Health Plans by 0.3% during the 2nd quarter. World Asset Management Inc now owns 3,428 shares of the company’s stock valued at $616,000 after purchasing an additional 11 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in shares of WellCare Health Plans by 1.1% during the 1st quarter. Neuberger Berman Group LLC now owns 1,539 shares of the company’s stock valued at $216,000 after purchasing an additional 16 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of WellCare Health Plans by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,493 shares of the company’s stock valued at $1,166,000 after purchasing an additional 22 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in shares of WellCare Health Plans by 0.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 9,779 shares of the company’s stock valued at $1,755,000 after purchasing an additional 63 shares in the last quarter. Institutional investors and hedge funds own 98.40% of the company’s stock.

WCG has been the topic of a number of recent research reports. Deutsche Bank AG raised their price target on shares of WellCare Health Plans from $185.00 to $192.00 and gave the company a “buy” rating in a report on Thursday, July 13th. Cantor Fitzgerald restated a “buy” rating and set a $195.00 price target on shares of WellCare Health Plans in a report on Saturday, August 26th. Zacks Investment Research downgraded shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Bank of America Corporation lifted their target price on shares of WellCare Health Plans from $185.00 to $189.00 and gave the stock a “neutral” rating in a report on Friday, July 14th. Finally, Mitsubishi UFJ Financial Group assumed coverage on shares of WellCare Health Plans in a report on Thursday, September 21st. They issued an “overweight” rating and a $204.00 target price on the stock. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $186.75.

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WellCare Health Plans (NYSE:WCG) last released its quarterly earnings results on Tuesday, October 31st. The company reported $4.08 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.37 billion. During the same period last year, the firm earned $1.63 earnings per share. WellCare Health Plans’s revenue for the quarter was up 22.8% compared to the same quarter last year.

In related news, 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 of the company’s stock, valued at $984,012.34. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kenneth A. Burdick sold 8,500 shares of the firm’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 transaction, the chief executive officer now directly owns 23,627 shares in the company, valued at $4,116,768.48. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by company insiders.

WellCare Health Plans 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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