V Wealth Management LLC Has $380,000 Position in Centene Corp (CNC)
V Wealth Management LLC increased its position in shares of Centene Corp (NYSE:CNC) by 40.0% during the first quarter, Holdings Channel reports. The institutional investor owned 5,344 shares of the company’s stock after buying an additional 1,527 shares during the period. V Wealth Management LLC’s holdings in Centene Corp were worth $380,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Rockefeller Financial Services Inc. bought a new position in shares of Centene Corp during the third quarter worth approximately $120,000. Parkside Financial Bank & Trust raised its position in shares of Centene Corp by 7.3% in the third quarter. Parkside Financial Bank & Trust now owns 2,206 shares of the company’s stock worth $148,000 after buying an additional 151 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of Centene Corp by 5.6% in the first quarter. Quadrant Capital Group LLC now owns 2,263 shares of the company’s stock worth $155,000 after buying an additional 120 shares in the last quarter. Creative Planning raised its position in shares of Centene Corp by 5.4% in the first quarter. Creative Planning now owns 2,476 shares of the company’s stock worth $176,000 after buying an additional 127 shares in the last quarter. Finally, Reliance Trust Co. of Delaware bought a new position in shares of Centene Corp during the first quarter worth approximately $201,000. 94.14% of the stock is currently owned by institutional investors and hedge funds.
Centene Corp (NYSE:CNC) traded down 1.52% during trading on Friday, hitting $70.64. The company had a trading volume of 1,783,095 shares. Centene Corp has a one year low of $50.00 and a one year high of $75.57. The stock has a 50-day moving average of $70.08 and a 200 day moving average of $63.72. The company has a market capitalization of $12.15 billion, a price-to-earnings ratio of 20.61 and a beta of 0.69.
Centene Corp (NYSE:CNC) last announced its quarterly earnings results on Tuesday, February 7th. The company reported $1.19 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.08. Centene Corp had a return on equity of 12.83% and a net margin of 1.37%. The company earned $11.91 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the prior year, the company earned $0.95 EPS. Centene Corp’s revenue was up 89.0% compared to the same quarter last year. Equities analysts forecast that Centene Corp will post $4.70 EPS for the current fiscal year.
A number of research analysts have recently commented on the company. Barclays PLC increased their price objective on Centene Corp from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, February 8th. Zacks Investment Research raised Centene Corp from a “sell” rating to a “hold” rating in a report on Thursday, February 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 target price on shares of Centene Corp in a report on Saturday, March 11th. Citigroup Inc lowered Centene Corp from a “buy” rating to a “neutral” rating and set a $73.00 target price on the stock. in a report on Thursday, March 23rd. Finally, Jefferies Group LLC raised their target price on Centene Corp from $67.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, February 8th. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $77.75.
In related news, EVP Jesse N. Hunter sold 5,000 shares of the firm’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $69.54, for a total transaction of $347,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jeffrey A. Schwaneke sold 2,000 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was sold at an average price of $68.52, for a total value of $137,040.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,000 shares of company stock valued at $904,920. 4.50% of the stock is owned by corporate insiders.
Centene Corp Company Profile
Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.
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