Dynasty Wealth Management LLC Buys Shares of 11,748 Centene Co. (NYSE:CNC)

Dynasty Wealth Management LLC purchased a new stake in shares of Centene Co. (NYSE:CNC) during the 1st quarter, Holdings Channel reports. The fund purchased 11,748 shares of the company’s stock, valued at approximately $922,000.

Other institutional investors have also added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Centene in the fourth quarter valued at approximately $25,000. Rise Advisors LLC acquired a new stake in Centene during the 1st quarter valued at approximately $25,000. Riggs Asset Managment Co. Inc. bought a new position in Centene during the 4th quarter worth approximately $32,000. Neo Ivy Capital Management acquired a new stake in shares of Centene during the fourth quarter worth $40,000. Finally, Access Investment Management LLC bought a new position in shares of Centene in the 4th quarter worth about $44,000. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, President Kenneth J. Fasola sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $77.62, for a total transaction of $620,960.00. Following the completion of the sale, the president now directly owns 300,357 shares in the company, valued at $23,313,710.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, President Kenneth J. Fasola sold 8,000 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $77.62, for a total value of $620,960.00. Following the completion of the sale, the president now directly owns 300,357 shares of the company’s stock, valued at $23,313,710.34. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Christopher J. Coughlin sold 878 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $76.75, for a total value of $67,386.50. Following the completion of the sale, the director now owns 25,504 shares of the company’s stock, valued at approximately $1,957,432. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Centene Stock Up 0.8 %

Shares of NYSE:CNC traded up $0.61 on Wednesday, hitting $77.71. 3,294,564 shares of the company traded hands, compared to its average volume of 3,487,231. The company has a market cap of $40.88 billion, a PE ratio of 15.50, a PEG ratio of 0.95 and a beta of 0.50. The stock has a 50 day simple moving average of $68.93 and a 200-day simple moving average of $73.65. Centene Co. has a 52 week low of $60.83 and a 52 week high of $81.42. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.64.

Centene (NYSE:CNC) last released its quarterly earnings results on Friday, July 26th. The company reported $2.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). The firm had revenue of $39.84 billion during the quarter, compared to analysts’ expectations of $36.83 billion. Centene had a return on equity of 14.45% and a net margin of 1.79%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the business earned $2.10 earnings per share. As a group, research analysts expect that Centene Co. will post 6.8 earnings per share for the current year.

Analyst Ratings Changes

CNC has been the subject of several recent analyst reports. Baird R W raised shares of Centene to a “hold” rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. dropped their price target on Centene from $85.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. TD Cowen cut their target price on Centene from $91.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Wells Fargo & Company decreased their target price on shares of Centene from $93.00 to $81.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Finally, Robert W. Baird started coverage on Centene in a report on Thursday, May 30th. They set a “neutral” rating and a $83.00 price objective for the company. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.86.

About Centene

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.