Federated Investors Inc. PA Cuts Stake in WellCare Health Plans, Inc. (WCG)

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Federated Investors Inc. PA lessened its position in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 26.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,745 shares of the company’s stock after selling 13,515 shares during the quarter. Federated Investors Inc. PA owned about 0.08% of WellCare Health Plans worth $9,048,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Meadow Creek Investment Management LLC increased its holdings in shares of WellCare Health Plans by 1.7% in the second quarter. Meadow Creek Investment Management LLC now owns 46,992 shares of the company’s stock worth $11,571,000 after acquiring an additional 792 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of WellCare Health Plans by 85.5% in the second quarter. Great West Life Assurance Co. Can now owns 60,094 shares of the company’s stock worth $14,817,000 after acquiring an additional 27,695 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of WellCare Health Plans by 495.9% in the second quarter. PNC Financial Services Group Inc. now owns 37,093 shares of the company’s stock worth $9,134,000 after acquiring an additional 30,868 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of WellCare Health Plans by 5.3% in the second quarter. Legal & General Group Plc now owns 68,426 shares of the company’s stock worth $16,849,000 after acquiring an additional 3,456 shares in the last quarter. Finally, Mutual of America Capital Management LLC increased its holdings in shares of WellCare Health Plans by 2.7% in the second quarter. Mutual of America Capital Management LLC now owns 65,913 shares of the company’s stock worth $16,230,000 after acquiring an additional 1,702 shares in the last quarter. 97.39% of the stock is currently owned by institutional investors and hedge funds.

NYSE:WCG opened at $312.81 on Friday. 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 stock has a market cap of $13.55 billion, a P/E ratio of 36.71, a PEG ratio of 1.88 and a beta of 1.04. WellCare Health Plans, Inc. has a 52-week low of $162.25 and a 52-week high of $315.27.

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

Several equities research analysts have issued reports on WCG shares. Jefferies Financial Group restated a “hold” rating and issued a $268.00 price target on shares of WellCare Health Plans in a report on Wednesday, August 1st. Morgan Stanley increased their price target on WellCare Health Plans from $237.00 to $258.00 and gave the stock an “equal weight” rating in a report on Friday, July 13th. Argus started coverage on WellCare Health Plans in a report on Thursday, June 7th. They issued a “buy” rating and a $265.00 price target for the company. Zacks Investment Research downgraded WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Finally, Wells Fargo & Co restated a “buy” rating on shares of WellCare Health Plans in a report on Tuesday, July 31st. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $276.47.

WellCare Health Plans Company Profile

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.

Further Reading: Leveraged Buyout (LBO)

Institutional Ownership by Quarter for WellCare Health Plans (NYSE:WCG)

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