Centene Corporation $CNC Shares Purchased by Berger Financial Group Inc

Berger Financial Group Inc boosted its stake in shares of Centene Corporation (NYSE:CNC) by 2.1% in the second quarter, Holdings Channel reports. The fund owned 88,447 shares of the company’s stock after purchasing an additional 1,790 shares during the period. Berger Financial Group Inc’s holdings in Centene were worth $4,801,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of CNC. Quarry LP purchased a new position in Centene in the 1st quarter valued at $26,000. Golden State Wealth Management LLC lifted its stake in shares of Centene by 203.1% in the 1st quarter. Golden State Wealth Management LLC now owns 579 shares of the company’s stock worth $35,000 after acquiring an additional 388 shares during the period. Bruce G. Allen Investments LLC increased its stake in shares of Centene by 273.8% during the first quarter. Bruce G. Allen Investments LLC now owns 927 shares of the company’s stock worth $56,000 after acquiring an additional 679 shares during the period. ORG Wealth Partners LLC purchased a new position in Centene during the first quarter worth about $73,000. Finally, Geneos Wealth Management Inc. lifted its position in Centene by 78.1% in the first quarter. Geneos Wealth Management Inc. now owns 1,462 shares of the company’s stock valued at $89,000 after purchasing an additional 641 shares during the period. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Insider Activity

In other news, Director Theodore R. Samuels II acquired 9,000 shares of the company’s stock in a transaction dated Monday, July 28th. The stock was acquired at an average cost of $27.62 per share, for a total transaction of $248,580.00. Following the acquisition, the director directly owned 32,000 shares in the company, valued at approximately $883,840. This represents a 39.13% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sarah London acquired 19,230 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was purchased at an average price of $25.50 per share, for a total transaction of $490,365.00. Following the completion of the acquisition, the chief executive officer owned 845,275 shares in the company, valued at approximately $21,554,512.50. This trade represents a 2.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CNC. Weiss Ratings reissued a “sell (d)” rating on shares of Centene in a research note on Saturday, September 27th. Bank of America cut Centene from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $52.00 to $30.00 in a research report on Wednesday, July 16th. Barclays boosted their target price on shares of Centene from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, September 12th. Mizuho reduced their price objective on shares of Centene from $71.00 to $40.00 and set a “neutral” rating for the company in a research note on Friday, July 11th. Finally, Truist Financial boosted their price objective on shares of Centene from $35.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Three equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Centene currently has a consensus rating of “Hold” and an average target price of $38.33.

Centene Price Performance

Shares of NYSE:CNC opened at $38.71 on Friday. The stock has a market cap of $19.01 billion, a PE ratio of 9.58, a price-to-earnings-growth ratio of 1.57 and a beta of 0.48. The business’s fifty day moving average price is $29.98 and its two-hundred day moving average price is $45.26. Centene Corporation has a one year low of $25.08 and a one year high of $73.50. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.10 and a current ratio of 1.10.

Centene (NYSE:CNC) last announced its earnings results on Friday, July 25th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.39). The firm had revenue of $48.74 billion during the quarter, compared to analyst estimates of $44.71 billion. Centene had a net margin of 1.15% and a return on equity of 9.57%. The company’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.42 EPS. Centene has set its FY 2025 guidance at 1.750-1.750 EPS. On average, analysts forecast that Centene Corporation will post 6.86 EPS for the current fiscal year.

Centene Company Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children’s health insurance program, foster care, medicare-medicaid plans, long-term services and support.