222,337 Shares in Centene Co. (NYSE:CNC) Bought by Allen Mooney & Barnes Investment Advisors LLC

Allen Mooney & Barnes Investment Advisors LLC bought a new stake in Centene Co. (NYSE:CNC - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 222,337 shares of the company's stock, valued at approximately $13,498,000. Centene accounts for approximately 2.2% of Allen Mooney & Barnes Investment Advisors LLC's holdings, making the stock its 14th biggest position.

Several other hedge funds have also recently made changes to their positions in CNC. Stratos Wealth Partners LTD. raised its stake in shares of Centene by 4.1% during the 4th quarter. Stratos Wealth Partners LTD. now owns 4,094 shares of the company's stock valued at $248,000 after purchasing an additional 163 shares during the period. Wilmington Savings Fund Society FSB raised its stake in shares of Centene by 24.9% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 3,501 shares of the company's stock valued at $212,000 after purchasing an additional 697 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Centene during the 4th quarter valued at $167,000. Vontobel Holding Ltd. raised its stake in shares of Centene by 9.4% during the 4th quarter. Vontobel Holding Ltd. now owns 10,217 shares of the company's stock valued at $619,000 after purchasing an additional 882 shares during the period. Finally, V Square Quantitative Management LLC raised its stake in shares of Centene by 14.8% during the 4th quarter. V Square Quantitative Management LLC now owns 7,119 shares of the company's stock valued at $431,000 after purchasing an additional 918 shares during the period. 93.63% of the stock is currently owned by institutional investors.

Centene Stock Down 0.3%

Shares of Centene stock traded down $0.19 during midday trading on Friday, hitting $55.20. The company had a trading volume of 3,457,567 shares, compared to its average volume of 4,902,575. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 1.11. The stock has a market capitalization of $27.47 billion, a P/E ratio of 8.85, a P/E/G ratio of 0.80 and a beta of 0.45. The company has a 50 day moving average of $59.29 and a 200 day moving average of $59.92. Centene Co. has a 52-week low of $54.01 and a 52-week high of $80.59.

Centene (NYSE:CNC - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.38. The company had revenue of $46.62 billion for the quarter, compared to the consensus estimate of $43.16 billion. Centene had a return on equity of 13.85% and a net margin of 2.03%. The firm's quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.26 EPS. On average, equities analysts predict that Centene Co. will post 6.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on CNC. Barclays reiterated an "equal weight" rating and set a $65.00 price objective (down from $84.00) on shares of Centene in a research note on Monday, June 2nd. Guggenheim restated a "neutral" rating on shares of Centene in a research report on Tuesday, April 29th. Wall Street Zen cut Centene from a "strong-buy" rating to a "buy" rating in a research report on Monday, April 28th. Morgan Stanley started coverage on Centene in a research report on Monday, June 9th. They set an "overweight" rating and a $70.00 target price for the company. Finally, Jefferies Financial Group reduced their target price on Centene from $64.00 to $61.00 and set a "hold" rating for the company in a research report on Tuesday, April 29th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, Centene has a consensus rating of "Moderate Buy" and an average target price of $77.71.

Centene Company Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children's health insurance program, foster care, medicare-medicaid plans, long-term services and support.