Sendero Wealth Management LLC Has $873,000 Stake in Centene Corporation $CNC

Sendero Wealth Management LLC reduced its stake in shares of Centene Corporation (NYSE:CNC - Free Report) by 81.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,090 shares of the company's stock after selling 69,924 shares during the quarter. Sendero Wealth Management LLC's holdings in Centene were worth $873,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Quadcap Wealth Management LLC grew its holdings in shares of Centene by 3.2% in the 1st quarter. Quadcap Wealth Management LLC now owns 5,617 shares of the company's stock valued at $341,000 after buying an additional 172 shares during the period. Poinciana Advisors Group LLC increased its stake in Centene by 2.8% during the 1st quarter. Poinciana Advisors Group LLC now owns 7,221 shares of the company's stock worth $438,000 after purchasing an additional 195 shares in the last quarter. Carnegie Investment Counsel lifted its stake in Centene by 6.0% in the first quarter. Carnegie Investment Counsel now owns 3,811 shares of the company's stock valued at $234,000 after buying an additional 215 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Centene by 6.1% in the first quarter. Allworth Financial LP now owns 4,387 shares of the company's stock valued at $270,000 after buying an additional 254 shares during the period. Finally, Amalgamated Bank raised its holdings in shares of Centene by 0.3% during the first quarter. Amalgamated Bank now owns 97,346 shares of the company's stock worth $5,910,000 after acquiring an additional 265 shares during the period. Institutional investors and hedge funds own 93.63% of the company's stock.

Wall Street Analysts Forecast Growth

CNC has been the subject of a number of research reports. Wall Street Zen cut Centene from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. TD Cowen restated a "hold" rating and issued a $33.00 target price (down previously from $73.00) on shares of Centene in a research note on Monday, July 21st. Oppenheimer decreased their price target on shares of Centene from $51.00 to $43.00 and set an "outperform" rating for the company in a research note on Monday, July 28th. Cantor Fitzgerald reissued a "neutral" rating and issued a $38.00 price objective on shares of Centene in a research report on Tuesday, August 26th. Finally, Barclays raised their target price on shares of Centene from $33.00 to $35.00 and gave the company an "equal weight" rating in a research report on Friday, September 12th. Three equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $38.33.

Centene Stock Up 5.1%

Shares of CNC stock opened at $38.71 on Monday. Centene Corporation has a 52-week low of $25.08 and a 52-week high of $73.50. The stock has a market cap of $19.01 billion, a price-to-earnings ratio of 9.58, a PEG ratio of 1.57 and a beta of 0.48. The firm's 50-day moving average is $29.98 and its 200-day moving average is $45.16. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.10 and a current ratio of 1.10.

Centene (NYSE:CNC - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.39). Centene had a net margin of 1.15% and a return on equity of 9.57%. The business had revenue of $48.74 billion during the quarter, compared to the consensus estimate of $44.71 billion. During the same quarter in the prior year, the company earned $2.42 EPS. Centene's quarterly revenue was up 22.4% on a year-over-year basis. Centene has set its FY 2025 guidance at 1.750-1.750 EPS. Sell-side analysts predict that Centene Corporation will post 6.86 EPS for the current year.

Insider Buying and Selling at Centene

In related news, CEO Sarah London acquired 19,230 shares of the company's stock in a transaction dated Friday, August 8th. The shares were bought at an average cost of $25.50 per share, with a total value of $490,365.00. Following the completion of the transaction, the chief executive officer directly owned 845,275 shares of the company's stock, valued at $21,554,512.50. This trade represents a 2.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Theodore R. Samuels II bought 9,000 shares of Centene stock in a transaction that occurred on Monday, July 28th. The shares were bought at an average cost of $27.62 per share, with a total value of $248,580.00. Following the acquisition, the director directly owned 32,000 shares in the company, valued at $883,840. This trade represents a 39.13% increase in their position. The disclosure for this purchase can be found here. 0.36% of the stock is owned by insiders.

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.

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