Executive Wealth Management LLC Increases Holdings in Centene Corp (NYSE:CNC)

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Executive Wealth Management LLC lifted its position in shares of Centene Corp (NYSE:CNC) by 22.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,303 shares of the company’s stock after buying an additional 8,513 shares during the period. Executive Wealth Management LLC’s holdings in Centene were worth $2,428,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of Centene by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 2,883,859 shares of the company’s stock worth $331,969,000 after purchasing an additional 176,124 shares in the last quarter. American Century Companies Inc. increased its position in shares of Centene by 5.0% during the 4th quarter. American Century Companies Inc. now owns 4,041 shares of the company’s stock worth $466,000 after purchasing an additional 192 shares in the last quarter. Huntington National Bank grew its holdings in Centene by 110.7% during the 1st quarter. Huntington National Bank now owns 472 shares of the company’s stock worth $25,000 after acquiring an additional 248 shares during the last quarter. Gateway Investment Advisers LLC grew its holdings in Centene by 90.6% during the 1st quarter. Gateway Investment Advisers LLC now owns 19,031 shares of the company’s stock worth $1,011,000 after acquiring an additional 9,047 shares during the last quarter. Finally, DNB Asset Management AS grew its holdings in Centene by 74.4% during the 1st quarter. DNB Asset Management AS now owns 43,732 shares of the company’s stock worth $2,322,000 after acquiring an additional 18,659 shares during the last quarter. 89.86% of the stock is currently owned by institutional investors.

A number of equities research analysts have commented on CNC shares. Citigroup raised shares of Centene from a “neutral” rating to a “buy” rating and set a $69.00 price objective on the stock in a report on Friday, May 10th. Zacks Investment Research lowered shares of Centene from a “buy” rating to a “hold” rating and set a $59.00 price objective on the stock. in a report on Wednesday, May 29th. SunTrust Banks decreased their price objective on shares of Centene to $80.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. ValuEngine lowered shares of Centene from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 2nd. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $83.00 price objective on shares of Centene in a report on Sunday, April 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $75.26.

Shares of NYSE CNC opened at $49.73 on Wednesday. The company has a market cap of $20.14 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 0.78 and a beta of 0.83. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.58. Centene Corp has a 1 year low of $45.44 and a 1 year high of $74.49. The company has a 50-day simple moving average of $51.90.

Centene (NYSE:CNC) last issued its earnings results on Tuesday, July 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.10. The company had revenue of $18.36 billion for the quarter, compared to analyst estimates of $18.02 billion. Centene had a net margin of 1.84% and a return on equity of 15.87%. The company’s revenue for the quarter was up 29.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 EPS. As a group, equities research analysts expect that Centene Corp will post 4.41 EPS for the current year.

In other Centene news, Director Jessica L. Blume bought 2,850 shares of Centene stock in a transaction dated Friday, July 26th. The shares were bought at an average price of $52.99 per share, with a total value of $151,021.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.50% of the stock is currently owned by company insiders.

Centene Company Profile

Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.

Further Reading: What is the balance sheet?

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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