Cwm LLC Has $8.90 Million Stock Holdings in Centene Corporation (NYSE:CNC)

CWM LLC lifted its holdings in shares of Centene Corporation (NYSE:CNC - Free Report) by 66.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,513 shares of the company's stock after purchasing an additional 58,336 shares during the period. CWM LLC's holdings in Centene were worth $8,895,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CNC. Ameriflex Group Inc. acquired a new position in Centene during the 4th quarter valued at about $26,000. Pinney & Scofield Inc. bought a new stake in Centene during the 4th quarter valued at $25,000. Hurley Capital LLC purchased a new position in Centene in the fourth quarter worth $26,000. Studio Investment Management LLC purchased a new position in Centene in the fourth quarter worth $32,000. Finally, Golden State Wealth Management LLC grew its position in Centene by 203.1% in the first quarter. Golden State Wealth Management LLC now owns 579 shares of the company's stock worth $35,000 after acquiring an additional 388 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Stock Down 1.8%

Shares of NYSE CNC traded down $0.52 during mid-day trading on Friday, reaching $28.62. The company had a trading volume of 7,192,853 shares, compared to its average volume of 5,939,010. The stock has a fifty day moving average of $50.73 and a two-hundred day moving average of $57.25. Centene Corporation has a 12-month low of $28.27 and a 12-month high of $80.59. The company has a market capitalization of $14.24 billion, a price-to-earnings ratio of 4.26, a PEG ratio of 0.46 and a beta of 0.44. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.11 and a current ratio of 1.11.

Centene (NYSE:CNC - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $2.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.52 by $0.38. Centene had a return on equity of 14.56% and a net margin of 2.04%. The firm had revenue of $46.62 billion during the quarter, compared to analysts' expectations of $43.16 billion. During the same quarter in the prior year, the business earned $2.26 earnings per share. The company's revenue was up 15.4% on a year-over-year basis. As a group, equities research analysts expect that Centene Corporation will post 6.86 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Cantor Fitzgerald cut their price target on shares of Centene from $90.00 to $65.00 and set an "overweight" rating for the company in a research report on Wednesday, July 2nd. Jefferies Financial Group dropped their target price on shares of Centene from $64.00 to $61.00 and set a "hold" rating on the stock in a report on Tuesday, April 29th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $48.00 price target (down previously from $75.00) on shares of Centene in a research note on Wednesday, July 2nd. Wall Street Zen cut shares of Centene from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, UBS Group restated a "neutral" rating and set a $45.00 price objective (down from $80.00) on shares of Centene in a research report on Wednesday, July 2nd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $58.63.

About Centene

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.