Algert Global LLC cut its stake in shares of Centene Corporation (NYSE:CNC - Free Report) by 54.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,218 shares of the company's stock after selling 55,978 shares during the period. Algert Global LLC's holdings in Centene were worth $3,031,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CNC. 180 Wealth Advisors LLC raised its position in Centene by 3.1% during the first quarter. 180 Wealth Advisors LLC now owns 6,683 shares of the company's stock valued at $219,000 after purchasing an additional 199 shares during the period. Summitry LLC increased its position in Centene by 1.1% during the first quarter. Summitry LLC now owns 23,925 shares of the company's stock valued at $783,000 after acquiring an additional 253 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Centene by 2.4% during the 2nd quarter. GAMMA Investing LLC now owns 10,674 shares of the company's stock worth $685,000 after purchasing an additional 253 shares during the period. Kestra Advisory Services LLC grew its holdings in Centene by 0.5% during the 4th quarter. Kestra Advisory Services LLC now owns 52,602 shares of the company's stock valued at $2,165,000 after purchasing an additional 264 shares during the last quarter. Finally, CX Institutional lifted its stake in Centene by 3.1% in the second quarter. CX Institutional now owns 8,999 shares of the company's stock worth $578,000 after purchasing an additional 269 shares during the last quarter. Institutional investors own 93.63% of the company's stock.
Centene Price Performance
Shares of CNC opened at $64.91 on Friday. The business's 50-day moving average is $65.33 and its two-hundred day moving average is $53.25. Centene Corporation has a fifty-two week low of $28.24 and a fifty-two week high of $69.36. The company has a market capitalization of $32.06 billion, a P/E ratio of -6.22, a P/E/G ratio of 0.35 and a beta of 1.08. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.15 and a current ratio of 1.15.
Centene (NYSE:CNC - Get Free Report) last issued its quarterly earnings data on Monday, July 27th. The company reported $2.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.09 by $1.42. Centene had a positive return on equity of 12.12% and a negative net margin of 2.51%.The firm had revenue of $53.58 billion during the quarter, compared to the consensus estimate of $47.64 billion. During the same period last year, the company earned ($0.16) EPS. The company's quarterly revenue was up 9.9% on a year-over-year basis. Research analysts predict that Centene Corporation will post 4.89 earnings per share for the current year.
Analysts Set New Price Targets
Several analysts have recently weighed in on the company. Stifel Nicolaus set a $79.00 target price on Centene in a research report on Monday, August 3rd. Wells Fargo & Company set a $69.00 price objective on shares of Centene and gave the company an "equal weight" rating in a research report on Monday, July 13th. Raymond James Financial set a $75.00 target price on shares of Centene in a research report on Tuesday, July 7th. Barclays reissued an "overweight" rating and issued a $80.00 price objective (up from $75.00) on shares of Centene in a research note on Wednesday, July 29th. Finally, Zacks Research raised Centene from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $70.05.
View Our Latest Research Report on Centene
Insider Transactions at Centene
In other news, General Counsel Christopher Koster sold 56,500 shares of the firm's stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $66.90, for a total transaction of $3,779,850.00. Following the transaction, the general counsel directly owned 248,854 shares in the company, valued at approximately $16,648,332.60. This trade represents a 18.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.37% of the stock is owned by corporate insiders.
About Centene
(
Free Report)
Centene Corporation NYSE: CNC is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children's Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.
Centene's offerings extend beyond traditional insurance to include a range of specialty and support services.
Further Reading
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