Chartwell Investment Partners LLC Decreases Stake in WellCare Health Plans, Inc. (WCG)

Chartwell Investment Partners LLC reduced its holdings in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 19.0% in the 4th quarter, HoldingsChannel reports. The fund owned 5,985 shares of the company’s stock after selling 1,400 shares during the period. Chartwell Investment Partners LLC’s holdings in WellCare Health Plans were worth $1,204,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Acadian Asset Management LLC grew its stake in shares of WellCare Health Plans by 5.3% during the 4th quarter. Acadian Asset Management LLC now owns 1,597,827 shares of the company’s stock worth $321,339,000 after acquiring an additional 80,960 shares in the last quarter. American Century Companies Inc. grew its stake in shares of WellCare Health Plans by 60.1% during the 3rd quarter. American Century Companies Inc. now owns 594,925 shares of the company’s stock worth $102,172,000 after acquiring an additional 223,364 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of WellCare Health Plans by 7.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 533,384 shares of the company’s stock worth $91,603,000 after acquiring an additional 36,198 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of WellCare Health Plans by 21.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 503,474 shares of the company’s stock worth $86,471,000 after acquiring an additional 88,085 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of WellCare Health Plans by 1.3% during the 4th quarter. Victory Capital Management Inc. now owns 414,629 shares of the company’s stock worth $83,386,000 after acquiring an additional 5,177 shares in the last quarter. 98.73% of the stock is owned by institutional investors.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of WellCare Health Plans from a “hold” rating to a “buy” rating and set a $216.00 price target for the company in a research note on Tuesday. Morgan Stanley raised their price target on shares of WellCare Health Plans from $214.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $235.00 price target on shares of WellCare Health Plans in a research note on Tuesday, February 6th. Cowen reaffirmed an “outperform” rating and set a $250.00 price target on shares of WellCare Health Plans in a research note on Tuesday, January 23rd. Finally, Goldman Sachs Group assumed coverage on shares of WellCare Health Plans in a research note on Wednesday, January 3rd. They set a “buy” rating and a $255.00 price target for the company. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $217.86.

Shares of WellCare Health Plans, Inc. (NYSE:WCG) opened at $194.65 on Wednesday. The company has a market capitalization of $8,603.48, a P/E ratio of 23.42, a PEG ratio of 1.24 and a beta of 0.82. The company has a quick ratio of 1.28, a current ratio of 1.31 and a debt-to-equity ratio of 0.49. WellCare Health Plans, Inc. has a twelve month low of $136.23 and a twelve month high of $221.75.

WellCare Health Plans (NYSE:WCG) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.21 by $0.11. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.32 billion. WellCare Health Plans had a return on equity of 17.10% and a net margin of 2.20%. The firm’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.03 EPS. analysts forecast that WellCare Health Plans, Inc. will post 9.79 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: “Chartwell Investment Partners LLC Decreases Stake in WellCare Health Plans, Inc. (WCG)” was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this article on another publication, it was stolen and reposted in violation of US and international trademark & copyright laws. The correct version of this article can be viewed at https://www.dispatchtribunal.com/2018/02/21/chartwell-investment-partners-llc-decreases-stake-in-wellcare-health-plans-inc-wcg.html.

About WellCare Health Plans

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

Leave a Reply