WellCare Health Plans, Inc. (NYSE:WCG) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. grew its position in WellCare Health Plans, Inc. (NYSE:WCG) by 8.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,165 shares of the company’s stock after acquiring an additional 165 shares during the quarter. Daiwa Securities Group Inc.’s holdings in WellCare Health Plans were worth $561,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of WCG. Magnetar Financial LLC boosted its holdings in shares of WellCare Health Plans by 53.6% in the second quarter. Magnetar Financial LLC now owns 912,876 shares of the company’s stock valued at $260,234,000 after acquiring an additional 318,581 shares during the period. Paulson & CO. Inc. boosted its holdings in shares of WellCare Health Plans by 86.6% in the second quarter. Paulson & CO. Inc. now owns 587,700 shares of the company’s stock valued at $167,536,000 after acquiring an additional 272,800 shares during the period. Alpine Associates Management Inc. boosted its holdings in shares of WellCare Health Plans by 489.0% in the second quarter. Alpine Associates Management Inc. now owns 300,384 shares of the company’s stock valued at $85,632,000 after acquiring an additional 249,384 shares during the period. Omni Partners LLP boosted its holdings in shares of WellCare Health Plans by 984.4% in the second quarter. Omni Partners LLP now owns 212,267 shares of the company’s stock valued at $60,511,000 after acquiring an additional 192,693 shares during the period. Finally, TIG Advisors LLC boosted its holdings in shares of WellCare Health Plans by 485.3% in the second quarter. TIG Advisors LLC now owns 224,625 shares of the company’s stock valued at $64,034,000 after acquiring an additional 186,250 shares during the period. 91.64% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently weighed in on WCG shares. Cantor Fitzgerald downgraded WellCare Health Plans from an “overweight” rating to a “neutral” rating in a report on Tuesday, July 30th. Stephens downgraded WellCare Health Plans from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $330.00 to $317.00 in a report on Monday, September 9th. Finally, ValuEngine downgraded WellCare Health Plans from a “hold” rating to a “sell” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $304.83.

NYSE:WCG opened at $304.48 on Thursday. The stock has a fifty day moving average price of $276.42 and a two-hundred day moving average price of $277.42. The stock has a market capitalization of $15.07 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 1.33 and a beta of 0.91. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.16 and a current ratio of 1.16. WellCare Health Plans, Inc. has a 1 year low of $220.63 and a 1 year high of $306.13.

WellCare Health Plans (NYSE:WCG) last released its quarterly earnings data on Wednesday, October 30th. The company reported $5.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.93 by $1.57. The firm had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $6.79 billion. WellCare Health Plans had a return on equity of 17.00% and a net margin of 2.34%. WellCare Health Plans’s revenue was up 41.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.33 earnings per share. On average, analysts predict that WellCare Health Plans, Inc. will post 15.42 EPS for the current year.

About WellCare Health Plans

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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