Three Seasons Wealth LLC Makes New $740,000 Investment in Centene Corporation $CNC

Three Seasons Wealth LLC bought a new position in shares of Centene Corporation (NYSE:CNC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,526 shares of the company’s stock, valued at approximately $740,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of CNC. Deutsche Bank AG purchased a new stake in shares of Centene in the second quarter valued at about $257,279,000. Hara Capital LLC purchased a new position in shares of Centene during the second quarter worth about $5,222,000. Roberts Glore & Co. Inc. IL acquired a new position in Centene in the 2nd quarter valued at about $1,659,000. Paralel Advisors LLC purchased a new stake in Centene during the 2nd quarter valued at approximately $4,531,000. Finally, GSA Capital Partners LLP acquired a new stake in Centene during the 2nd quarter worth approximately $2,134,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CNC shares. Wall Street Zen raised Centene from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 18th. Deutsche Bank Aktiengesellschaft raised Centene from a “hold” rating to a “buy” rating and increased their price target for the stock from $53.00 to $80.00 in a report on Wednesday, May 20th. Robert W. Baird boosted their price objective on shares of Centene from $46.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Truist Financial upped their price objective on shares of Centene from $71.00 to $78.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Centene in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $70.05.

Insider Activity at Centene

In related news, General Counsel Christopher Koster sold 56,500 shares of the business’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $66.90, for a total transaction of $3,779,850.00. Following the sale, the general counsel owned 248,854 shares of the company’s stock, valued at approximately $16,648,332.60. The trade was a 18.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.37% of the stock is owned by company insiders.

Centene Stock Down 1.6%

CNC opened at $66.92 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.15 and a quick ratio of 1.15. Centene Corporation has a 12 month low of $28.24 and a 12 month high of $69.36. The stock has a market capitalization of $33.06 billion, a P/E ratio of -6.41, a P/E/G ratio of 0.43 and a beta of 1.10. The business has a 50 day simple moving average of $65.56 and a 200-day simple moving average of $54.18.

Centene (NYSE:CNC) last released its quarterly earnings data on Monday, July 27th. The company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $1.42. The firm had revenue of $53.58 billion during the quarter, compared to analysts’ expectations of $47.64 billion. Centene had a positive return on equity of 12.12% and a negative net margin of 2.51%.Centene’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.16) earnings per share. On average, equities analysts anticipate that Centene Corporation will post 4.89 earnings per share for the current fiscal year.

About Centene

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.