Curated Wealth Partners LLC Acquires 27,553 Shares of Centene Corporation $CNC

Curated Wealth Partners LLC purchased a new position in shares of Centene Corporation (NYSE:CNC) during the 3rd quarter, HoldingsChannel reports. The firm purchased 27,553 shares of the company’s stock, valued at approximately $1,899,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Centene in the second quarter valued at $2,660,422,000. Wellington Management Group LLP lifted its position in 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Centene by 12.4% during 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 in the last quarter. Bank of America Corp DE acquired a new stake in shares of Centene in the 2nd quarter valued at about $285,713,000. Finally, Deutsche Bank AG purchased a new stake in Centene in the second quarter valued at approximately $257,279,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Insider Buying and Selling

In other news, General Counsel Christopher Koster sold 56,500 shares of the company’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $66.90, for a total value of $3,779,850.00. Following the sale, the general counsel owned 248,854 shares in the company, valued at approximately $16,648,332.60. This represents a 18.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.37% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on CNC. Royal Bank Of Canada lifted their price objective on shares of Centene from $70.00 to $71.00 and gave the company a “sector perform” rating in a research note on Thursday, July 9th. Argus upgraded shares of Centene from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Tuesday, August 11th. Wall Street Zen raised shares of Centene from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 18th. Truist Financial lifted their price objective on Centene from $71.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Centene in a report on Friday, September 11th. Nine analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $70.05.

Centene Trading Up 1.1%

Shares of CNC stock traded up $0.75 on Thursday, reaching $70.91. 2,109,978 shares of the stock were exchanged, compared to its average volume of 5,637,282. The firm has a 50 day moving average of $65.21 and a two-hundred day moving average of $59.33. Centene Corporation has a 1-year low of $31.63 and a 1-year high of $71.00. 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 has a market cap of $35.03 billion, a P/E ratio of -6.80, a price-to-earnings-growth ratio of 0.43 and a beta of 1.13.

Centene (NYSE:CNC) last announced its quarterly earnings results on Monday, July 27th. The company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $1.42. The firm had revenue of $53.58 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.16) EPS. On average, research analysts anticipate that Centene Corporation will post 4.89 EPS for the current year.

About Centene

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.