12,896 Shares in Centene Corporation $CNC Bought by Diversify Advisory Services LLC

Diversify Advisory Services LLC purchased a new stake in Centene Corporation (NYSE:CNC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 12,896 shares of the company’s stock, valued at approximately $826,000.

Other large investors also recently modified their holdings of the company. MidFirst Bank acquired a new stake in shares of Centene in the second quarter valued at about $32,000. DV Equities LLC acquired a new position in Centene during the fourth quarter valued at approximately $26,000. Elevation Wealth Partners LLC grew its stake in Centene by 564.6% in the second quarter. Elevation Wealth Partners LLC now owns 658 shares of the company’s stock valued at $42,000 after purchasing an additional 559 shares in the last quarter. IFC & Insurance Marketing Inc. acquired a new position in shares of Centene during the 4th quarter worth approximately $28,000. Finally, SBI Securities Co. Ltd. raised its stake in shares of Centene by 118.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock worth $31,000 after purchasing an additional 406 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, General Counsel Christopher Koster sold 47,603 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $65.36, for a total value of $3,111,332.08. Following the completion of the sale, the general counsel directly owned 305,354 shares in the company, valued at $19,957,937.44. The trade was a 13.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CNC. TD Cowen reissued a “hold” rating and issued a $65.00 target price (up from $47.00) on shares of Centene in a research note on Tuesday, July 14th. Argus upgraded shares of Centene from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a research note on Tuesday, August 11th. Bank of America boosted their price objective on shares of Centene from $72.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Raymond James Financial set a $75.00 target price on shares of Centene in a research note on Tuesday, July 7th. Finally, Stifel Nicolaus set a $79.00 price target on Centene in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $70.05.

Centene Price Performance

Shares of CNC opened at $64.24 on Friday. The firm has a market capitalization of $31.73 billion, a PE ratio of -6.15, a PEG ratio of 0.35 and a beta of 1.08. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.15 and a quick ratio of 1.15. The company’s 50-day moving average is $64.96 and its 200-day moving average is $52.31. Centene Corporation has a fifty-two week low of $28.24 and a fifty-two week high of $69.36.

Centene (NYSE:CNC) last issued its quarterly earnings data on Monday, July 27th. The company reported $2.51 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $47.64 billion. During the same period last year, the business posted ($0.16) earnings per share. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities analysts forecast that Centene Corporation will post 4.89 EPS for the current year.

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.