Mackenzie Financial Corp Purchases Shares of 1,006 WellCare Health Plans, Inc. (NYSE:WCG)

Mackenzie Financial Corp acquired a new stake in WellCare Health Plans, Inc. (NYSE:WCG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,006 shares of the company’s stock, valued at approximately $202,000.

Several other hedge funds have also made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of WellCare Health Plans by 0.6% in the fourth quarter. BlackRock Inc. now owns 4,271,908 shares of the company’s stock valued at $859,121,000 after purchasing an additional 25,516 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of WellCare Health Plans by 5.3% in the fourth quarter. Acadian Asset Management LLC now owns 1,597,827 shares of the company’s stock valued at $321,339,000 after purchasing an additional 80,960 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of WellCare Health Plans by 44.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,035,902 shares of the company’s stock valued at $208,331,000 after purchasing an additional 318,631 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of WellCare Health Plans by 7.3% in the third quarter. Russell Investments Group Ltd. now owns 533,384 shares of the company’s stock valued at $91,603,000 after purchasing an additional 36,198 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of WellCare Health Plans by 21.2% in the third quarter. Ameriprise Financial Inc. now owns 503,474 shares of the company’s stock valued at $86,471,000 after purchasing an additional 88,085 shares in the last quarter. Hedge funds and other institutional investors own 98.23% of the company’s stock.

How to Become a New Pot Stock Millionaire

WCG has been the subject of a number of research reports. Zacks Investment Research cut shares of WellCare Health Plans from a “strong-buy” rating to a “hold” rating in a report on Saturday, January 6th. Cantor Fitzgerald restated a “buy” rating and issued a $235.00 price objective on shares of WellCare Health Plans in a report on Monday, December 18th. Goldman Sachs initiated coverage on shares of WellCare Health Plans in a report on Wednesday, January 3rd. They issued a “buy” rating and a $255.00 price objective for the company. Wells Fargo upgraded shares of WellCare Health Plans from a “market perform” rating to an “outperform” rating in a report on Wednesday, March 21st. Finally, Bank of America upgraded shares of WellCare Health Plans from a “neutral” rating to a “buy” rating and set a $215.00 price target for the company in a research note on Friday, March 16th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $217.86.

Shares of NYSE:WCG opened at $191.00 on Friday. The company has a market cap of $8,676.51, a PE ratio of 22.42, a P/E/G ratio of 1.38 and a beta of 0.90. The company has a quick ratio of 1.31, 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 $142.53 and a twelve month high of $221.75.

WellCare Health Plans (NYSE:WCG) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.11. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.32 billion. WellCare Health Plans had a net margin of 2.20% and a return on equity of 17.10%. The company’s revenue was up 23.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 EPS. equities research analysts forecast that WellCare Health Plans, Inc. will post 9.83 EPS for the current year.

WARNING: “Mackenzie Financial Corp Purchases Shares of 1,006 WellCare Health Plans, Inc. (NYSE:WCG)” was originally published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this article on another domain, it was illegally copied and republished in violation of U.S. and international trademark and copyright law. The legal version of this article can be viewed at https://www.dispatchtribunal.com/2018/04/07/mackenzie-financial-corp-invests-202000-in-wellcare-health-plans-inc-wcg-stock.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.

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