WellCare Health Plans, Inc. (WCG) Shares Bought by American International Group Inc.

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American International Group Inc. increased its holdings in WellCare Health Plans, Inc. (NYSE:WCG) by 1.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,226 shares of the company’s stock after acquiring an additional 1,095 shares during the quarter. American International Group Inc. owned about 0.21% of WellCare Health Plans worth $23,448,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in WCG. BlackRock Inc. raised its holdings in WellCare Health Plans by 6.5% in the first quarter. BlackRock Inc. now owns 4,551,672 shares of the company’s stock worth $881,340,000 after purchasing an additional 279,764 shares in the last quarter. Acadian Asset Management LLC raised its holdings in WellCare Health Plans by 3.6% in the second quarter. Acadian Asset Management LLC now owns 1,652,077 shares of the company’s stock worth $406,808,000 after purchasing an additional 56,649 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in WellCare Health Plans by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 1,077,020 shares of the company’s stock worth $265,204,000 after purchasing an additional 21,813 shares in the last quarter. American Century Companies Inc. raised its holdings in WellCare Health Plans by 81.4% in the first quarter. American Century Companies Inc. now owns 1,038,186 shares of the company’s stock worth $201,024,000 after purchasing an additional 465,888 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in WellCare Health Plans by 52.2% in the first quarter. Millennium Management LLC now owns 603,298 shares of the company’s stock worth $116,817,000 after purchasing an additional 206,969 shares in the last quarter. 97.75% of the stock is owned by institutional investors.

Shares of NYSE:WCG opened at $294.74 on Friday. WellCare Health Plans, Inc. has a 1-year low of $162.25 and a 1-year high of $296.36. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.44. The firm has a market cap of $12.84 billion, a PE ratio of 34.59, a P/E/G ratio of 1.78 and a beta of 0.96.

WellCare Health Plans (NYSE:WCG) last issued its quarterly earnings results on Tuesday, July 31st. The company reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.03 by $0.66. WellCare Health Plans had a return on equity of 19.20% and a net margin of 2.69%. The firm had revenue of $4.64 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same period last year, the company earned $2.52 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. sell-side analysts predict that WellCare Health Plans, Inc. will post 10.88 EPS for the current fiscal year.

A number of equities analysts have issued reports on the company. SunTrust Banks increased their price objective on WellCare Health Plans to $315.00 and gave the stock a “buy” rating in a report on Wednesday, August 1st. Wells Fargo & Co reiterated a “buy” rating on shares of WellCare Health Plans in a report on Tuesday, July 31st. Morgan Stanley increased their price objective on WellCare Health Plans from $258.00 to $280.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 1st. Jefferies Financial Group reiterated a “hold” rating and issued a $268.00 price objective on shares of WellCare Health Plans in a report on Wednesday, August 1st. Finally, Barclays increased their price objective on WellCare Health Plans from $288.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, August 1st. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. WellCare Health Plans has a consensus rating of “Buy” and a consensus price target of $267.94.

About WellCare Health Plans

WellCare Health Plans, Inc provides managed care services for government-sponsored health care programs. It operates through three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare 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 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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