14,914 Shares in Centene Corporation $CNC Bought by Triumph Capital Management

Triumph Capital Management purchased a new position in shares of Centene Corporation (NYSE:CNC) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 14,914 shares of the company’s stock, valued at approximately $971,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CNC. BlackRock Inc. bought a new position in Centene during the 2nd quarter worth $2,660,422,000. Wellington Management Group LLP boosted its position in shares of Centene by 423.0% in the second quarter. Wellington Management Group LLP now owns 13,301,215 shares of the company’s stock valued at $853,805,000 after acquiring an additional 10,757,914 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Centene by 12.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,517,580 shares of the company’s stock valued at $354,173,000 after acquiring an additional 608,249 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Centene in the second quarter valued at about $285,713,000. Finally, Deutsche Bank AG bought a new position in Centene during the second quarter worth about $257,279,000. 93.63% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Centene

In other Centene news, General Counsel Christopher Koster sold 56,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $66.90, for a total transaction of $3,779,850.00. Following the completion of the transaction, the general counsel directly owned 248,854 shares in the company, 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 this link. 0.37% of the stock is owned by company insiders.

Centene Price Performance

Centene stock traded up $1.21 during trading hours on Wednesday, reaching $70.07. 4,924,795 shares of the stock were exchanged, compared to its average volume of 5,655,807. The company has a market cap of $34.61 billion, a P/E ratio of -6.71, a price-to-earnings-growth ratio of 0.42 and a beta of 1.13. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.71. Centene Corporation has a twelve month low of $31.63 and a twelve month high of $70.37. The stock has a 50 day moving average of $65.15 and a two-hundred day moving average of $59.07.

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. The firm had revenue of $53.58 billion for the quarter, compared to analyst estimates of $47.64 billion. Centene had a negative net margin of 2.51% and a positive return on equity of 12.12%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.16) EPS. Equities analysts expect that Centene Corporation will post 4.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Centene in a report on Friday, October 9th. UBS Group set a $79.00 target price on shares of Centene in a report on Tuesday, August 18th. Robert W. Baird raised their target price on shares of Centene from $46.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $79.00 price target (up from $68.00) on shares of Centene in a research report on Monday, August 3rd. Finally, Wells Fargo & Company set a $69.00 price target on Centene and gave the company an “equal weight” rating in a research note on Monday, July 13th. Nine investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $70.05.

Centene Profile

Centene Corporation (NYSE:CNC) is a healthcare enterprise that provides health insurance and related services, primarily through government-sponsored programs. Its offerings include Medicaid plans, Medicare products, health plans sold through the Affordable Care Act marketplace, and services for military families through government-sponsored healthcare programs.

The company also provides pharmacy, behavioral health, specialty healthcare, care management and administrative services through various subsidiaries and partner organizations.