Wealth Enhancement Advisory Services LLC boosted its stake in Centene Corp. (NYSE:CNC) by 13.2% during the second quarter, Holdings Channel reports. The institutional investor owned 20,773 shares of the company’s stock after buying an additional 2,419 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Centene Corp. were worth $1,483,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB raised its position in Centene Corp. by 22.9% in the second quarter. Handelsbanken Fonder AB now owns 376,000 shares of the company’s stock valued at $26,835,000 after buying an additional 70,000 shares in the last quarter. Samlyn Capital LLC purchased a new position in Centene Corp. during the first quarter valued at about $35,212,000. Boston Advisors LLC raised its position in Centene Corp. by 0.8% in the second quarter. Boston Advisors LLC now owns 18,742 shares of the company’s stock valued at $1,338,000 after buying an additional 150 shares in the last quarter. Cortland Associates Inc. MO raised its position in Centene Corp. by 1.2% in the second quarter. Cortland Associates Inc. MO now owns 263,617 shares of the company’s stock valued at $18,814,000 after buying an additional 3,177 shares in the last quarter. Finally, Legal & General Group Plc raised its position in Centene Corp. by 49.1% in the first quarter. Legal & General Group Plc now owns 685,197 shares of the company’s stock valued at $42,193,000 after buying an additional 225,733 shares in the last quarter. 92.90% of the stock is currently owned by institutional investors and hedge funds.
Centene Corp. (NYSE:CNC) traded down 0.10% on Monday, hitting $60.00. 385,157 shares of the company traded hands. The stock has a market cap of $10.24 billion, a PE ratio of 23.16 and a beta of 0.95. Centene Corp. has a 12 month low of $47.36 and a 12 month high of $75.57. The stock’s 50-day moving average is $65.97 and its 200 day moving average is $65.75.
Centene Corp. (NYSE:CNC) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $1.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.20. Centene Corp. had a net margin of 1.19% and a return on equity of 14.27%. The firm had revenue of $10.90 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same period last year, the business earned $0.72 EPS. Centene Corp.’s revenue for the quarter was up 97.9% compared to the same quarter last year. Equities research analysts expect that Centene Corp. will post $4.37 earnings per share for the current fiscal year.
CNC has been the topic of several analyst reports. Zacks Investment Research lowered shares of Centene Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, October 11th. Leerink Swann reaffirmed a “hold” rating on shares of Centene Corp. in a report on Tuesday, October 4th. Cantor Fitzgerald reissued a “buy” rating on shares of Centene Corp. in a report on Thursday, September 29th. FBR & Co reissued a “buy” rating on shares of Centene Corp. in a report on Thursday, September 1st. Finally, Credit Suisse Group AG reissued a “buy” rating and set a $78.00 price objective on shares of Centene Corp. in a report on Tuesday, September 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $80.76.
In other Centene Corp. news, VP Carol Goldman sold 10,000 shares of the firm’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $66.36, for a total transaction of $663,600.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Kenneth Rone Baldwin sold 6,000 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $66.58, for a total transaction of $399,480.00. The disclosure for this sale can be found here. Corporate insiders own 4.50% of the company’s stock.
About Centene Corp.
Centene Corporation is a diversified healthcare company that provides programs and services to government sponsored healthcare programs. The Company also provides education and outreach programs to inform and assist members in accessing appropriate healthcare services. The Company operates through two segments.
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