Centene Corporation $CNC Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC decreased its position in Centene Corporation (NYSE:CNC) by 11.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 290,225 shares of the company’s stock after selling 36,716 shares during the quarter. Wealthfront Advisers LLC’s holdings in Centene were worth $9,502,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in CNC. SouthState Bank Corp lifted its position in Centene by 1.3% during the first quarter. SouthState Bank Corp now owns 24,013 shares of the company’s stock worth $786,000 after buying an additional 317 shares during the period. Calamos Wealth Management LLC purchased a new position in Centene in the first quarter valued at approximately $338,000. Calamos Advisors LLC lifted its holdings in shares of Centene by 9.2% during the 1st quarter. Calamos Advisors LLC now owns 122,805 shares of the company’s stock valued at $4,021,000 after acquiring an additional 10,312 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in shares of Centene by 19.9% during the first quarter. Bleakley Financial Group LLC now owns 13,537 shares of the company’s stock worth $443,000 after purchasing an additional 2,245 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in Centene by 1.0% during the 1st quarter. Principal Financial Group Inc. now owns 520,999 shares of the company’s stock worth $17,058,000 after acquiring an additional 5,088 shares in the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Analyst Ratings Changes

CNC has been the topic of a number of recent analyst reports. Raymond James Financial set a $75.00 price objective on shares of Centene in a report on Tuesday, July 7th. Mizuho set a $63.00 price objective on shares of Centene and gave the stock a “neutral” rating in a report on Monday, June 8th. Wells Fargo & Company set a $69.00 target price on shares of Centene and gave the stock an “equal weight” rating in a research report on Monday. The Goldman Sachs Group restated a “sell” rating and issued a $40.00 target price on shares of Centene in a research note on Wednesday, April 29th. Finally, JPMorgan Chase & Co. increased their price target on shares of Centene from $52.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, June 8th. Seven analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $64.61.

Centene Stock Performance

CNC stock opened at $66.29 on Friday. The stock’s 50 day simple moving average is $62.76 and its 200 day simple moving average is $48.85. Centene Corporation has a 12-month low of $25.08 and a 12-month high of $69.36. The firm has a market cap of $32.73 billion, a P/E ratio of -5.04, a P/E/G ratio of 0.50 and a beta of 1.07. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.76.

Centene (NYSE:CNC) last released its earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $2.23 by $1.14. The firm had revenue of $49.94 billion during the quarter, compared to analyst estimates of $47.53 billion. Centene had a negative net margin of 3.25% and a positive return on equity of 5.57%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.90 earnings per share. As a group, equities research analysts predict that Centene Corporation will post 3.44 EPS for the current year.

Centene Profile

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.