Centene Corporation $CNC Shares Newly Acquired by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners acquired 27,553 Centene shares worth approximately $1.9 million in the third quarter. Institutional investors collectively own 93.63% of the company.
• Centene General Counsel Christopher Koster sold 56,500 shares for roughly $3.78 million, reducing his holdings by 18.5%; insiders own just 0.37% of the stock.
• Analysts maintain a mixed outlook, with a consensus rating of “Hold” and a $70.05 target price. Centene recently beat quarterly earnings expectations, reporting $2.51 in EPS versus the $1.09 consensus estimate.

Curated Wealth Partners LLC purchased a new position in Centene Corporation (NYSE:CNC - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 27,553 shares of the company's stock, valued at approximately $1,899,000.

A number of other institutional investors also recently bought and sold shares of the stock. Silicon Valley Capital Partners bought a new stake in shares of Centene during the 2nd quarter worth approximately $25,000. North Point Portfolio Managers Corp OH bought a new stake in Centene during the 3rd quarter valued at $25,000. Toth Financial Advisory Corp purchased a new stake in shares of Centene in the 3rd quarter worth $30,000. MidFirst Bank purchased a new stake in Centene in the second quarter worth about $32,000. Finally, Bayban bought a new stake in shares of Centene in the 4th quarter valued at about $33,000. 93.63% of the stock is currently owned by institutional investors.

Insider Transactions at Centene

In other news, General Counsel Christopher Koster sold 56,500 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $66.90, for a total value of $3,779,850.00. Following the completion of the sale, the general counsel owned 248,854 shares of the company's stock, valued at $16,648,332.60. This represents a 18.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.37% of the company's stock.

Analyst Ratings Changes

CNC has been the subject of a number of analyst reports. Cantor Fitzgerald restated an "overweight" rating on shares of Centene in a research note on Friday, October 9th. HC Wainwright reiterated a "buy" rating on shares of Centene in a research note on Friday, September 11th. UBS Group set a $79.00 price target on shares of Centene in a research note on Tuesday, August 18th. Wells Fargo & Company set a $69.00 price objective on shares of Centene and gave the company an "equal weight" rating in a report on Monday, July 13th. Finally, Weiss Ratings raised Centene from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, October 8th. Nine investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Centene has an average rating of "Hold" and a consensus target price of $70.05.

Centene Price Performance

Centene stock traded up $0.75 during trading on Thursday, reaching $70.91. The company had a trading volume of 2,109,978 shares, compared to its average volume of 5,637,282. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.15 and a current ratio of 1.15. The firm's 50-day simple moving average is $65.21 and its 200 day simple moving average is $59.33. The firm has a market capitalization of $35.03 billion, a PE ratio of -6.80, a price-to-earnings-growth ratio of 0.43 and a beta of 1.13. Centene Corporation has a 1-year low of $31.63 and a 1-year high of $71.00.

Centene (NYSE:CNC - Get Free Report) last announced its earnings results on Monday, July 27th. The company reported $2.51 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $1.42. The business had revenue of $53.58 billion during the quarter, compared to analysts' expectations of $47.64 billion. Centene had a positive return on equity of 12.12% and a negative net margin of 2.51%. The business's revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.16) earnings per share. As a group, equities research analysts anticipate that Centene Corporation will post 4.89 earnings per share for the current fiscal year.

About Centene

Centene Corporation NYSE: CNC is a healthcare enterprise that provides health insurance and related services, primarily through government-sponsored programs. Its offerings include Medicaid plans, Medicare products, health plans sold through the Affordable Care Act marketplace, and services for military families through government-sponsored healthcare programs.

The company also provides pharmacy, behavioral health, specialty healthcare, care management and administrative services through various subsidiaries and partner organizations.

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