Centene Corporation $CNC Shares Bought by Mather Group LLC.

Mather Group LLC. increased its stake in Centene Corporation (NYSE:CNC) by 61.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,310 shares of the company’s stock after purchasing an additional 8,111 shares during the period. Mather Group LLC.’s holdings in Centene were worth $1,324,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Silicon Valley Capital Partners bought a new stake in Centene during the second quarter worth about $25,000. North Point Portfolio Managers Corp OH acquired a new stake in Centene during the third quarter worth about $25,000. Toth Financial Advisory Corp acquired a new stake in Centene during the third quarter worth about $30,000. MidFirst Bank bought a new position in Centene in the 2nd quarter valued at about $32,000. Finally, Bayban bought a new position in Centene in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Insider Buying and Selling

In other Centene news, General Counsel Christopher Koster sold 56,500 shares of the stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $66.90, for a total value of $3,779,850.00. Following the completion of the transaction, the general counsel directly owned 248,854 shares in the company, valued at approximately $16,648,332.60. This trade represents a 18.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.37% of the company’s stock.

Centene Price Performance

Shares of NYSE:CNC traded down $1.24 during trading on Friday, hitting $69.27. 3,336,077 shares of the company were exchanged, compared to its average volume of 4,808,065. Centene Corporation has a 1-year low of $31.63 and a 1-year high of $71.21. The company has a market capitalization of $34.22 billion, a P/E ratio of -6.64, a price-to-earnings-growth ratio of 0.44 and a beta of 1.13. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.71. The business’s 50 day moving average is $65.41 and its 200-day moving average is $59.67.

Centene (NYSE:CNC) last released its quarterly earnings data on Monday, July 27th. The company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $1.09 by $1.42. The company had revenue of $53.58 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.16) EPS. Equities analysts forecast that Centene Corporation will post 4.89 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on CNC. Barclays restated an “overweight” rating and issued a $80.00 target price (up from $75.00) on shares of Centene in a research report on Wednesday, July 29th. Morgan Stanley set a $66.00 price target on shares of Centene in a research report on Wednesday, July 29th. UBS Group set a $79.00 price objective on shares of Centene in a research note on Tuesday, August 18th. Zacks Research downgraded shares of Centene from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Finally, Truist Financial upped their target price on Centene from $71.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Nine analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $70.05.

About Centene

Centene Corporation (NYSE:CNC) is a healthcare enterprise that provides health insurance and related services, primarily through government-sponsored programs. Its offerings include Medicaid plans, Medicare products, health plans sold through the Affordable Care Act marketplace, and services for military families through government-sponsored healthcare programs.

The company also provides pharmacy, behavioral health, specialty healthcare, care management and administrative services through various subsidiaries and partner organizations.