Public Employees Retirement Association of Colorado cut its stake in WellCare Health Plans, Inc. (NYSE:WCG) by 0.0% during the second quarter, Holdings Channel reports. The institutional investor owned 10,602 shares of the company’s stock after selling 5 shares during the period. Public Employees Retirement Association of Colorado’s holdings in WellCare Health Plans were worth $1,904,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. State of Alaska Department of Revenue bought a new stake in shares of WellCare Health Plans during the second quarter valued at $121,000. Advisory Services Network LLC bought a new stake in shares of WellCare Health Plans during the first quarter valued at $112,000. Creative Planning raised its stake in shares of WellCare Health Plans by 3.0% in the first quarter. Creative Planning now owns 862 shares of the company’s stock valued at $121,000 after buying an additional 25 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of WellCare Health Plans during the second quarter valued at $271,000. Finally, Neuberger Berman Group LLC raised its stake in shares of WellCare Health Plans by 1.1% in the first quarter. Neuberger Berman Group LLC now owns 1,539 shares of the company’s stock valued at $216,000 after buying an additional 16 shares in the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

WellCare Health Plans, Inc. (WCG) opened at 172.03 on Friday. The stock’s 50 day moving average price is $180.00 and its 200-day moving average price is $160.38. The firm has a market capitalization of $7.66 billion, a price-to-earnings ratio of 30.22 and a beta of 0.84. WellCare Health Plans, Inc. has a one year low of $109.74 and a one year high of $184.88.

WellCare Health Plans (NYSE:WCG) last issued its quarterly earnings data on Friday, August 4th. The company reported $2.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.23 billion. During the same quarter in the previous year, the company posted $2.23 EPS. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. On average, equities research analysts anticipate that WellCare Health Plans, Inc. will post $6.99 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Public Employees Retirement Association of Colorado Has $1.90 Million Stake in WellCare Health Plans, Inc. (NYSE:WCG)” was reported by Daily Political and is the property of of Daily Political. If you are reading this story on another website, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this story can be read at https://www.dailypolitical.com/2017/08/11/public-employees-retirement-association-of-colorado-has-1-90-million-stake-in-wellcare-health-plans-inc-nysewcg.html.

Several brokerages have weighed in on WCG. Morgan Stanley increased their target price on WellCare Health Plans from $183.00 to $184.00 and gave the stock an “equal weight” rating in a research report on Monday. BidaskClub lowered WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research lowered WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Thursday, May 4th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $163.00 target price (up from $155.00) on shares of WellCare Health Plans in a research report on Thursday, July 13th. Finally, Bank of America Corporation increased their target price on WellCare Health Plans from $185.00 to $189.00 and gave the stock a “neutral” rating in a research report on Friday, July 14th. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. WellCare Health Plans presently has a consensus rating of “Hold” and a consensus target price of $170.09.

In other WellCare Health Plans news, VP Michael Troy Meyer sold 600 shares of WellCare Health Plans stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $171.86, for a total value of $103,116.00. Following the completion of the transaction, the vice president now owns 73 shares in the company, valued at approximately $12,545.78. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Andrew Lynn Asher sold 7,314 shares of WellCare Health Plans stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $175.04, for a total value of $1,280,242.56. Following the completion of the transaction, the chief financial officer now owns 13,244 shares of the company’s stock, valued at approximately $2,318,229.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,914 shares of company stock valued at $2,255,369. Corporate insiders own 0.50% of the company’s stock.

WellCare Health Plans Company 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.

Want to see what other hedge funds are holding WCG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WellCare Health Plans, Inc. (NYSE:WCG).

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

Receive News & Ratings for WellCare Health Plans Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WellCare Health Plans Inc. and related companies with MarketBeat.com's FREE daily email newsletter.