Financial Gravity Wealth Inc. lowered its holdings in Centene Corp (NYSE:CNC) by 25.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,399 shares of the company’s stock after selling 830 shares during the period. Financial Gravity Wealth Inc.’s holdings in Centene were worth $104,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in CNC. Compagnie Lombard Odier SCmA acquired a new stake in Centene in the second quarter valued at $30,000. North Star Investment Management Corp. acquired a new stake in Centene in the third quarter valued at $26,000. Reilly Financial Advisors LLC lifted its stake in Centene by 133.3% in the second quarter. Reilly Financial Advisors LLC now owns 700 shares of the company’s stock valued at $37,000 after acquiring an additional 400 shares during the last quarter. Transamerica Financial Advisors Inc. acquired a new stake in Centene in the second quarter valued at $48,000. Finally, Cullen Frost Bankers Inc. lifted its stake in Centene by 1,566.7% in the second quarter. Cullen Frost Bankers Inc. now owns 900 shares of the company’s stock valued at $47,000 after acquiring an additional 846 shares during the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.
In related news, Director Jessica L. Blume bought 2,850 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was bought at an average price of $52.99 per share, for a total transaction of $151,021.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.50% of the company’s stock.
Centene (NYSE:CNC) last posted its earnings results on Tuesday, July 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.10. The company had revenue of $18.36 billion during the quarter, compared to analysts’ expectations of $18.02 billion. Centene had a net margin of 1.84% and a return on equity of 15.87%. Centene’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.90 EPS. As a group, analysts predict that Centene Corp will post 4.42 EPS for the current fiscal year.
A number of analysts have commented on the stock. ValuEngine upgraded shares of Centene from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Zacks Investment Research upgraded shares of Centene from a “sell” rating to a “hold” rating and set a $47.00 price target for the company in a research note on Wednesday. Morgan Stanley cut their price target on shares of Centene from $64.00 to $62.00 and set an “overweight” rating for the company in a research note on Thursday, September 26th. Finally, Deutsche Bank assumed coverage on shares of Centene in a research note on Thursday, September 12th. They issued a “buy” rating and a $62.00 price target for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $71.28.
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.
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