Centene Corporation $CNC Position Increased by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC lifted its position in shares of Centene Corporation (NYSE:CNC) by 168.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,970 shares of the company’s stock after purchasing an additional 9,396 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Centene were worth $930,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Silicon Valley Capital Partners bought a new position in Centene during the second quarter worth about $25,000. North Point Portfolio Managers Corp OH acquired a new position in Centene during the third quarter worth approximately $25,000. Toth Financial Advisory Corp acquired a new position in Centene during the third quarter worth approximately $30,000. MidFirst Bank bought a new stake in Centene in the second quarter valued at approximately $32,000. Finally, Fiduciary Financial Advisors bought a new stake in Centene in the second quarter valued at approximately $34,000. 93.63% of the stock is owned by institutional investors.

Insider Transactions at Centene

In related news, General Counsel Christopher Koster sold 56,500 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $66.90, for a total value of $3,779,850.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.37% of the stock is owned by company insiders.

Centene Trading Down 1.5%

Shares of CNC stock opened at $70.20 on Friday. The firm has a 50 day moving average price of $65.79 and a two-hundred day moving average price of $60.95. 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 company has a market capitalization of $34.68 billion, a PE ratio of 13.73, a price-to-earnings-growth ratio of 0.45 and a beta of 1.13. Centene Corporation has a 12-month low of $31.63 and a 12-month high of $72.50.

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 analysts’ consensus estimates of $1.09 by $1.42. The company 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 business’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.16) earnings per share. As a group, analysts predict that Centene Corporation will post 4.89 earnings per share for the current year.

Analysts Set New Price Targets

CNC has been the subject of several research analyst reports. Wells Fargo & Company set a $69.00 target price on Centene and gave the stock an “equal weight” rating in a research note on Monday, July 13th. Stifel Nicolaus set a $79.00 target price on Centene in a report on Monday, August 3rd. Truist Financial increased their price target on Centene from $71.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Robert W. Baird raised their price target on Centene from $46.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Finally, Raymond James Financial set a $75.00 price objective on shares of Centene in a research report on Tuesday, July 7th. Nine analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Centene has an average rating of “Hold” and a consensus target price of $70.05.

About Centene

Centene Corporation is a diversified healthcare enterprise that provides government-sponsored and commercial health insurance programs and related healthcare services. The company’s offerings are primarily focused on Medicaid, Medicare, and health insurance marketplace plans, with an emphasis on serving individuals and families who may have limited access to traditional healthcare coverage.

Centene operates Medicaid health plans through state-based contracts and offers Medicare Advantage, Medicare prescription drug, and Medicare Supplement products through its Wellcare brand.