Nilsine Partners LLC increased its position in shares of Centene Corporation (NYSE:CNC – Free Report) by 110.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,320 shares of the company’s stock after purchasing an additional 18,546 shares during the period. Nilsine Partners LLC’s holdings in Centene were worth $2,267,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of CNC. 180 Wealth Advisors LLC boosted its stake in Centene by 3.1% during the first quarter. 180 Wealth Advisors LLC now owns 6,683 shares of the company’s stock valued at $219,000 after buying an additional 199 shares in the last quarter. Summitry LLC boosted its position in shares of Centene by 1.1% during the 1st quarter. Summitry LLC now owns 23,925 shares of the company’s stock valued at $783,000 after purchasing an additional 253 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Centene by 2.4% in the 2nd quarter. GAMMA Investing LLC now owns 10,674 shares of the company’s stock worth $685,000 after purchasing an additional 253 shares during the last quarter. Kestra Advisory Services LLC raised its holdings in shares of Centene by 0.5% in the 4th quarter. Kestra Advisory Services LLC now owns 52,602 shares of the company’s stock worth $2,165,000 after purchasing an additional 264 shares in the last quarter. Finally, CX Institutional grew its position in Centene by 3.1% in the second quarter. CX Institutional now owns 8,999 shares of the company’s stock worth $578,000 after buying an additional 269 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.
Centene Stock Down 0.2%
NYSE:CNC opened at $66.92 on Monday. The business’s fifty day moving average price is $65.56 and its 200 day moving average price is $54.28. The firm has a market capitalization of $33.06 billion, a price-to-earnings ratio of -6.41, a PEG ratio of 0.42 and a beta of 1.10. 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 1-year low of $28.24 and a 1-year high of $69.36.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on CNC. Zacks Research raised Centene from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 29th. Wells Fargo & Company set a $69.00 target price on Centene and gave the company an “equal weight” rating in a report on Monday, July 13th. Oppenheimer lifted their price target on Centene from $58.00 to $67.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Morgan Stanley set a $66.00 price objective on Centene in a report on Wednesday, July 29th. Finally, Mizuho set a $63.00 target price on shares of Centene and gave the stock a “neutral” rating in a report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $70.05.
Get Our Latest Analysis on Centene
Insider Buying and Selling at Centene
In related news, General Counsel Christopher Koster sold 56,500 shares of the stock in a transaction 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 completion of the sale, the general counsel directly owned 248,854 shares in the company, valued at approximately $16,648,332.60. This trade represents a 18.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.37% of the company’s stock.
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.
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