Mariner Wealth Advisors LLC lowered its position in Centene Corporation (NYSE:CNC) by 16.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,546 shares of the company’s stock after selling 1,085 shares during the period. Mariner Wealth Advisors LLC’s holdings in Centene Corporation were worth $443,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CNC. Seven Bridges Advisors LLC acquired a new stake in shares of Centene Corporation in the 2nd quarter worth approximately $123,000. IFP Advisors Inc grew its holdings in shares of Centene Corporation by 9.6% in the 2nd quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock worth $155,000 after acquiring an additional 170 shares during the period. MV Capital Management Inc. acquired a new stake in shares of Centene Corporation in the 2nd quarter worth approximately $186,000. Eagle Global Advisors LLC acquired a new stake in shares of Centene Corporation in the 2nd quarter worth approximately $216,000. Finally, Keybank National Association OH acquired a new stake in shares of Centene Corporation in the 1st quarter worth approximately $224,000. Institutional investors and hedge funds own 92.32% of the company’s stock.
Centene Corporation (NYSE:CNC) opened at 92.22 on Monday. The stock has a market cap of $15.91 billion, a price-to-earnings ratio of 20.24 and a beta of 0.63. Centene Corporation has a 52 week low of $50.00 and a 52 week high of $98.72. The firm’s 50 day moving average price is $86.60 and its 200-day moving average price is $78.42.
Centene Corporation (NYSE:CNC) last posted its quarterly earnings data on Tuesday, July 25th. The company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.29. Centene Corporation had a net margin of 1.72% and a return on equity of 14.62%. The firm had revenue of $11.95 billion during the quarter, compared to analyst estimates of $11.69 billion. During the same quarter last year, the business posted $1.29 EPS. The company’s revenue was up 9.7% on a year-over-year basis. Analysts expect that Centene Corporation will post $4.92 EPS for the current year.
A number of research firms recently weighed in on CNC. Deutsche Bank AG restated a “buy” rating and issued a $111.00 price target (up previously from $95.00) on shares of Centene Corporation in a report on Thursday, September 14th. Zacks Investment Research upgraded Centene Corporation from a “hold” rating to a “buy” rating and set a $107.00 price target on the stock in a report on Friday, September 15th. Cantor Fitzgerald upped their price target on Centene Corporation to $107.00 and gave the stock an “overweight” rating in a report on Wednesday, September 13th. Leerink Swann restated a “market perform” rating and issued a $90.00 price target (up previously from $78.00) on shares of Centene Corporation in a report on Wednesday, September 13th. Finally, Cowen and Company restated an “outperform” rating and issued a $105.00 price target (up previously from $77.00) on shares of Centene Corporation in a report on Wednesday, September 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $92.76.
In related news, Director Robert K. Ditmore sold 4,167 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $82.59, for a total value of $344,152.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christopher D. Bowers sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $79.43, for a total transaction of $317,720.00. The disclosure for this sale can be found here. Insiders sold a total of 43,167 shares of company stock valued at $3,470,973 in the last ninety days. Company insiders own 3.00% of the company’s stock.
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Centene Corporation Profile
Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.
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