Voya Investment Management LLC decreased its position in WellCare Health Plans, Inc. (NYSE:WCG) by 12.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,828 shares of the company’s stock after selling 9,591 shares during the quarter. Voya Investment Management LLC owned 0.15% of WellCare Health Plans worth $11,820,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of WCG. UBS Asset Management Americas Inc. grew its position in shares of WellCare Health Plans by 31.3% in the 1st quarter. UBS Asset Management Americas Inc. now owns 62,459 shares of the company’s stock worth $8,757,000 after acquiring an additional 14,884 shares in the last quarter. Sei Investments Co. grew its position in shares of WellCare Health Plans by 21.2% in the 1st quarter. Sei Investments Co. now owns 10,017 shares of the company’s stock worth $1,404,000 after acquiring an additional 1,750 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of WellCare Health Plans by 51.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,848 shares of the company’s stock worth $400,000 after acquiring an additional 973 shares in the last quarter. KBC Group NV grew its position in shares of WellCare Health Plans by 237.1% in the 1st quarter. KBC Group NV now owns 2,828 shares of the company’s stock worth $397,000 after acquiring an additional 1,989 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its position in shares of WellCare Health Plans by 1.1% in the 1st quarter. Neuberger Berman Group LLC now owns 1,539 shares of the company’s stock worth $216,000 after acquiring an additional 16 shares in the last quarter. Institutional investors own 97.78% of the company’s stock.

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Several brokerages have recently commented on WCG. Credit Suisse Group AG reiterated a “neutral” rating and issued a $163.00 target price (up previously from $155.00) on shares of WellCare Health Plans in a research report on Thursday, July 13th. BidaskClub lowered WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Mitsubishi UFJ Financial Group began coverage on WellCare Health Plans in a research report on Thursday, September 21st. They set an “overweight” rating and a $204.00 price objective for the company. Zacks Investment Research lowered WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Finally, ValuEngine lowered WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Monday. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. WellCare Health Plans presently has an average rating of “Hold” and a consensus price target of $176.23.

WellCare Health Plans, Inc. (NYSE:WCG) opened at 172.10 on Friday. The company’s 50-day moving average price is $171.66 and its 200-day moving average price is $168.32. WellCare Health Plans, Inc. has a 52-week low of $113.34 and a 52-week high of $184.88. The firm has a market cap of $7.66 billion, a price-to-earnings ratio of 30.24 and a beta of 0.88.

WellCare Health Plans (NYSE:WCG) last issued its earnings results on Friday, August 4th. The company reported $2.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.23 by $0.29. WellCare Health Plans had a return on equity of 14.91% and a net margin of 1.66%. The business had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.23 billion. During the same period in the prior year, the firm posted $2.23 EPS. WellCare Health Plans’s quarterly revenue was up 19.8% compared to the same quarter last year. Analysts predict that WellCare Health Plans, Inc. will post $7.00 EPS for the current year.

In related news, CEO Kenneth A. Burdick sold 8,500 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 23,627 shares in the company, valued at approximately $4,116,768.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $171.97, for a total value of $1,440,076.78. Following the sale, the director now owns 5,722 shares in the company, valued at $984,012.34. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

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.

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

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