Centene Corporation $CNC Stock Holdings Cut by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC lessened its position in Centene Corporation (NYSE:CNC - Free Report) by 19.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 70,651 shares of the company's stock after selling 16,755 shares during the period. Integrated Wealth Concepts LLC's holdings in Centene were worth $4,535,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Baird Financial Group Inc. acquired a new position in shares of Centene in the 1st quarter worth approximately $236,000. Sivia Capital Partners LLC grew its position in Centene by 80.0% in the second quarter. Sivia Capital Partners LLC now owns 9,710 shares of the company's stock worth $527,000 after buying an additional 4,315 shares during the last quarter. CW Advisors LLC increased its holdings in shares of Centene by 20.3% in the second quarter. CW Advisors LLC now owns 4,863 shares of the company's stock valued at $264,000 after buying an additional 820 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Centene by 6.1% during the second quarter. NewEdge Advisors LLC now owns 44,945 shares of the company's stock valued at $2,440,000 after purchasing an additional 2,582 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in shares of Centene by 0.4% in the second quarter. Treasurer of the State of North Carolina now owns 231,938 shares of the company's stock worth $12,590,000 after buying an additional 967 shares during the period. Institutional investors own 93.63% of the company's stock.

Centene Stock Up 1.6%

CNC stock opened at $66.43 on Friday. The firm has a market cap of $32.82 billion, a PE ratio of -6.36, a PEG ratio of 0.42 and a beta of 1.10. Centene Corporation has a 1 year low of $31.63 and a 1 year high of $69.36. The company has a fifty day simple moving average of $65.45 and a 200 day simple moving average of $54.99. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.71.

Centene (NYSE:CNC - Get Free Report) last posted its earnings results on Monday, July 27th. The company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $1.09 by $1.42. The company had revenue of $53.58 billion for the quarter, compared to analyst estimates 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 period last year, the company earned ($0.16) earnings per share. Sell-side analysts anticipate that Centene Corporation will post 4.89 EPS for the current fiscal year.

Insider Transactions at Centene

In other Centene news, General Counsel Christopher Koster sold 56,500 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $66.90, for a total transaction of $3,779,850.00. Following the transaction, the general counsel owned 248,854 shares in the company, valued at $16,648,332.60. This trade represents a 18.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.37% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. UBS Group set a $79.00 price target on Centene in a report on Tuesday, August 18th. Mizuho set a $63.00 price objective on shares of Centene and gave the company a "neutral" rating in a research note on Monday, June 8th. Oppenheimer increased their target price on shares of Centene from $58.00 to $67.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 27th. Truist Financial boosted their price target on shares of Centene from $71.00 to $78.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Finally, Wells Fargo & Company set a $69.00 price target on shares of Centene and gave the stock an "equal weight" rating in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Centene has an average rating of "Hold" and a consensus price target of $70.05.

Centene Company Profile

Centene Corporation NYSE: CNC is a managed-care company that provides health insurance and related healthcare services, primarily through government-sponsored programs. Its offerings include Medicaid, Medicare Advantage and Medicare Prescription Drug plans, coverage for individuals and families through the health insurance marketplace, and health services for military families and veterans.

The company markets several healthcare brands, including Ambetter, which provides marketplace plans, and Wellcare, which offers Medicare products.

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