13,168 Shares of Centene Corporation $CNC Purchased by Signal Advisors Wealth LLC

Signal Advisors Wealth LLC purchased a new position in Centene Corporation (NYSE:CNC) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 13,168 shares of the company’s stock, valued at approximately $818,000.

A number of other hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Centene during the 2nd quarter valued at $2,660,422,000. Wellington Management Group LLP raised its stake 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 worth $853,805,000 after purchasing an additional 10,757,914 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 worth $354,173,000 after purchasing an additional 608,249 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Centene in the second quarter worth $285,713,000. Finally, Deutsche Bank AG bought a new position in shares of Centene during the second quarter valued at $257,279,000. Institutional investors own 93.63% of the company’s stock.

Centene Price Performance

Shares of Centene stock opened at $70.62 on Friday. The company has a market capitalization of $34.88 billion, a price-to-earnings ratio of -6.76, a PEG ratio of 0.44 and a beta of 1.13. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.71. The stock’s 50-day simple moving average is $65.34 and its 200-day simple moving average is $59.60. Centene Corporation has a 52 week low of $31.63 and a 52 week high of $71.01.

Centene (NYSE:CNC) last released its earnings results 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. The firm had revenue of $53.58 billion during the quarter, compared to analysts’ expectations of $47.64 billion. Centene had a positive return on equity of 12.12% and a negative net margin of 2.51%. The firm’s revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.16) earnings per share. As a group, analysts expect that Centene Corporation will post 4.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CNC shares. Argus upgraded 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. UBS Group set a $79.00 price objective on Centene in a research report on Tuesday, August 18th. Barclays reiterated an “overweight” rating and set a $80.00 price objective (up from $75.00) on shares of Centene in a research report on Wednesday, July 29th. Cantor Fitzgerald reissued an “overweight” rating on shares of Centene in a report on Friday, October 9th. Finally, JPMorgan Chase & Co. raised their target price on Centene from $60.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Nine research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $70.05.

Insider Buying and Selling at Centene

In other 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 transaction, the general counsel owned 248,854 shares of the company’s stock, valued at approximately $16,648,332.60. The trade was a 18.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.37% of the company’s stock.

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.