371,227 Shares in Centene Corporation $CNC Purchased by Corient Private Wealth LP

Corient Private Wealth LP bought a new position in Centene Corporation (NYSE:CNC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 371,227 shares of the company’s stock, valued at approximately $23,829,000.

Several other institutional investors also recently made changes to their positions in the stock. DV Equities LLC bought a new stake in shares of Centene in the 4th quarter worth approximately $26,000. IFC & Insurance Marketing Inc. bought a new position in Centene during the 4th quarter worth $28,000. SBI Securities Co. Ltd. increased its position in Centene by 118.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock worth $31,000 after buying an additional 406 shares during the period. MidFirst Bank bought a new stake in Centene in the second quarter valued at $32,000. Finally, Bayban acquired a new position in shares of Centene during the fourth quarter valued at $33,000. 93.63% of the stock is owned by institutional investors.

Insider Activity at Centene

In related news, General Counsel Christopher Koster sold 56,500 shares of the business’s 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 sale, the general counsel owned 248,854 shares of the company’s stock, valued at $16,648,332.60. The trade was a 18.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.37% of the stock is owned by corporate insiders.

Centene Stock Performance

CNC stock opened at $64.91 on Friday. The company has a 50-day simple moving average of $65.33 and a 200 day simple moving average of $53.25. The company has a market capitalization of $32.06 billion, a P/E ratio of -6.22, a PEG ratio of 0.35 and a beta of 1.08. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.71. Centene Corporation has a fifty-two week low of $28.24 and a fifty-two week high of $69.36.

Centene (NYSE:CNC) last released its earnings results on Monday, July 27th. The company reported $2.51 EPS for the quarter, beating the consensus estimate of $1.09 by $1.42. Centene had a negative net margin of 2.51% and a positive return on equity of 12.12%. The firm had revenue of $53.58 billion for the quarter, compared to analysts’ expectations of $47.64 billion. During the same quarter last year, the company earned ($0.16) EPS. Centene’s quarterly revenue was up 9.9% on a year-over-year basis. Sell-side analysts predict that Centene Corporation will post 4.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. TD Cowen reaffirmed a “hold” rating and issued a $65.00 price objective (up from $47.00) on shares of Centene in a report on Tuesday, July 14th. Morgan Stanley set a $66.00 target price on shares of Centene in a research note on Wednesday, July 29th. Argus upgraded shares of Centene from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Tuesday, August 11th. Truist Financial lifted their price target on Centene from $71.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Finally, Raymond James Financial set a $75.00 price objective on Centene in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $70.05.

About Centene

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.