Today The Russell Investments Group Ltd. Invests $67,350,000 in WellCare Health Plans, Inc. (WCG)

Today The Russell Investments Group Ltd. Invests $67,350,000 in WellCare Health Plans, Inc. (WCG)

Russell Investments Group Ltd. purchased a new stake in shares of WellCare Health Plans, Inc. (NYSE:WCG) during the fourth quarter, Holdings Channel reports. The fund purchased 491,251 shares of the company’s stock, valued at approximately $67,350,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Sterling Capital Management LLC boosted its stake in WellCare Health Plans by 0.4% in the second quarter. Sterling Capital Management LLC now owns 6,086 shares of the company’s stock valued at $653,000 after buying an additional 25 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its stake in WellCare Health Plans by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 7,639 shares of the company’s stock valued at $820,000 after buying an additional 27 shares during the period. First Citizens Bank & Trust Co. boosted its stake in WellCare Health Plans by 1.7% in the third quarter. First Citizens Bank & Trust Co. now owns 2,229 shares of the company’s stock valued at $261,000 after buying an additional 38 shares during the period. Westpac Banking Corp boosted its stake in WellCare Health Plans by 1.3% in the third quarter. Westpac Banking Corp now owns 2,898 shares of the company’s stock valued at $339,000 after buying an additional 38 shares during the period. Finally, Stifel Financial Corp boosted its stake in WellCare Health Plans by 1.2% in the second quarter. Stifel Financial Corp now owns 3,939 shares of the company’s stock valued at $423,000 after buying an additional 47 shares during the period.

WellCare Health Plans, Inc. (NYSE:WCG) traded up 1.30% during midday trading on Wednesday, hitting $146.45. The company’s stock had a trading volume of 125,169 shares. The company has a market cap of $6.49 billion, a price-to-earnings ratio of 31.01 and a beta of 1.05. WellCare Health Plans, Inc. has a one year low of $69.16 and a one year high of $147.75. The company’s 50-day moving average is $140.12 and its 200 day moving average is $122.50.

WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.52. WellCare Health Plans had a return on equity of 13.48% and a net margin of 1.47%. The business had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter in the prior year, the company earned $1.00 EPS. The business’s revenue was up 4.2% compared to the same quarter last year. On average, analysts predict that WellCare Health Plans, Inc. will post $5.44 EPS for the current year.

Several brokerages have commented on WCG. Stifel Nicolaus lowered WellCare Health Plans from a “buy” rating to a “hold” rating and set a $147.00 price objective for the company. in a research report on Wednesday, January 4th. They noted that the move was a valuation call. J P Morgan Chase & Co lowered WellCare Health Plans from an “overweight” rating to a “neutral” rating and set a $115.00 price objective for the company. in a research report on Thursday, November 10th. Barclays PLC reissued a “hold” rating and set a $146.00 price objective on shares of WellCare Health Plans in a research report on Monday, January 9th. Piper Jaffray Companies began coverage on WellCare Health Plans in a research report on Wednesday, January 4th. They set an “overweight” rating and a $155.00 price objective for the company. Finally, Goldman Sachs Group, Inc. (The) lowered WellCare Health Plans from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $119.42.

In other news, Director Paul E. Weaver sold 3,000 shares of the stock in a transaction on Friday, November 18th. The stock was sold at an average price of $128.83, for a total transaction of $386,490.00. Following the transaction, the director now owns 15,892 shares of the company’s stock, valued at approximately $2,047,366.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is currently owned by corporate insiders.

About WellCare Health Plans

WellCare Health Plans, Inc is a managed care company focused 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 complex medical needs. The Company’s segments include Medicaid Health Plans, Medicare Health Plans and Medicare PDPs.

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