Cigna Investments Inc. New Sells 4,635 Shares of WellCare Health Plans, Inc. (NYSE:WCG)
Cigna Investments Inc. New reduced its stake in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 50.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,574 shares of the company’s stock after selling 4,635 shares during the period. Cigna Investments Inc. New’s holdings in WellCare Health Plans were worth $821,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Advisory Services Network LLC purchased a new stake in shares of WellCare Health Plans during the first quarter valued at about $112,000. Creative Planning increased 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 during the period. State of Alaska Department of Revenue purchased a new stake in shares of WellCare Health Plans during the second quarter valued at about $121,000. Eagle Global Advisors LLC purchased a new stake in shares of WellCare Health Plans during the second quarter valued at about $211,000. Finally, Neuberger Berman Group LLC increased 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 during the period. 98.71% of the stock is owned by institutional investors.
WellCare Health Plans, Inc. (NYSE:WCG) opened at 172.39 on Friday. The company’s 50-day moving average price is $179.68 and its 200 day moving average price is $160.58. WellCare Health Plans, Inc. has a 52 week low of $109.74 and a 52 week high of $184.88. The company has a market capitalization of $7.67 billion, a PE ratio of 30.29 and a beta of 0.84.
WellCare Health Plans (NYSE:WCG) last released its quarterly earnings data on Friday, August 4th. The company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.29. The business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.23 billion. WellCare Health Plans had a return on equity of 14.91% and a net margin of 1.66%. WellCare Health Plans’s quarterly revenue was up 19.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.23 earnings per share. On average, equities research analysts anticipate that WellCare Health Plans, Inc. will post $6.99 EPS for the current year.
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WCG has been the subject of several recent research reports. Zacks Investment Research raised shares of WellCare Health Plans from a “hold” rating to a “buy” rating and set a $172.00 price objective for the company in a research report on Monday, May 1st. Deutsche Bank AG raised their price target on shares of WellCare Health Plans from $185.00 to $192.00 and gave the stock a “buy” rating in a research report on Thursday, July 13th. BidaskClub downgraded shares of WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Morgan Stanley began coverage on shares of WellCare Health Plans in a research report on Tuesday, June 6th. They set an “equal weight” rating and a $183.00 price target for the company. Finally, Jefferies Group LLC reissued a “hold” rating and set a $170.00 price target on shares of WellCare Health Plans in a research report on Thursday, June 8th. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $172.00.
In related news, Director Paul E. Weaver sold 2,000 shares of the business’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $175.44, for a total value of $350,880.00. Following the sale, the director now owns 15,262 shares of the company’s stock, valued at approximately $2,677,565.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Andrew Lynn Asher sold 7,314 shares of the business’s 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 sale, the chief financial officer now directly owns 13,244 shares in the company, valued at approximately $2,318,229.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,914 shares of company stock worth $2,255,369. 0.50% of the stock is currently owned by company insiders.
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.
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