Advisor Group Inc. grew its stake in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 472.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,594 shares of the company’s stock after purchasing an additional 2,141 shares during the quarter. Advisor Group Inc.’s holdings in WellCare Health Plans were worth $424,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of WellCare Health Plans by 5.5% during the first quarter. Vanguard Group Inc. now owns 4,435,885 shares of the company’s stock worth $621,956,000 after purchasing an additional 231,890 shares in the last quarter. BlackRock Inc. lifted its stake in shares of WellCare Health Plans by 1.6% in the second quarter. BlackRock Inc. now owns 4,260,559 shares of the company’s stock worth $765,026,000 after acquiring an additional 65,439 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of WellCare Health Plans by 18.8% in the first quarter. AQR Capital Management LLC now owns 2,114,365 shares of the company’s stock worth $296,455,000 after acquiring an additional 334,095 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of WellCare Health Plans by 1.8% in the second quarter. Acadian Asset Management LLC now owns 1,544,686 shares of the company’s stock worth $277,365,000 after acquiring an additional 27,855 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of WellCare Health Plans by 157.2% in the first quarter. Renaissance Technologies LLC now owns 618,300 shares of the company’s stock worth $86,692,000 after acquiring an additional 377,900 shares in the last quarter. Institutional investors own 97.78% of the company’s stock.

In related news, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of the stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $171.97, for a total value of $1,440,076.78. Following the completion of the sale, the director now owns 5,722 shares in the company, valued at $984,012.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kenneth A. Burdick sold 8,500 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $174.24, for a total transaction of $1,481,040.00. Following the completion of the sale, the chief executive officer now owns 23,627 shares of the company’s stock, valued at approximately $4,116,768.48. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

Shares of WellCare Health Plans, Inc. (NYSE:WCG) opened at 174.04 on Monday. The firm’s 50-day moving average price is $171.62 and its 200 day moving average price is $168.56. The firm has a market cap of $7.75 billion, a PE ratio of 30.58 and a beta of 0.88. WellCare Health Plans, Inc. has a 52 week low of $113.34 and a 52 week high of $184.88.

WellCare Health Plans (NYSE:WCG) last released its earnings results on Friday, August 4th. The company reported $2.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.23 by $0.29. WellCare Health Plans had a net margin of 1.66% and a return on equity of 14.91%. The business had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.23 billion. During the same quarter last year, the company earned $2.23 earnings per share. The firm’s revenue was up 19.8% on a year-over-year basis. Equities analysts anticipate that WellCare Health Plans, Inc. will post $7.00 EPS for the current year.

Several research analysts recently commented on the company. Cowen and Company assumed coverage on WellCare Health Plans in a research note on Monday. They issued an “outperform” rating on the stock. Morgan Stanley boosted their price target on WellCare Health Plans from $183.00 to $184.00 and gave the stock an “equal weight” rating in a research note on Monday, August 7th. ValuEngine cut WellCare Health Plans from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Zacks Investment Research upgraded WellCare Health Plans from a “hold” rating to a “buy” rating and set a $193.00 price target on the stock in a research note on Friday, August 11th. Finally, BidaskClub cut WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Ten research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $176.23.

ILLEGAL ACTIVITY NOTICE: “Advisor Group Inc. Buys 2,141 Shares of WellCare Health Plans, Inc. (WCG)” was first published by Daily Political and is owned by of Daily Political. If you are reading this report on another website, it was illegally copied and reposted in violation of United States and international trademark & copyright laws. The legal version of this report can be read at https://www.dailypolitical.com/2017/10/09/advisor-group-inc-buys-2141-shares-of-wellcare-health-plans-inc-wcg.html.

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.

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.