14,219 Centene Corporation $CNC Shares Acquired by Parkway Wealth Management Group LLC

Parkway Wealth Management Group LLC grew its holdings in Centene Corporation (NYSE:CNC) by 24.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 71,570 shares of the company’s stock after purchasing an additional 14,219 shares during the quarter. Parkway Wealth Management Group LLC’s holdings in Centene were worth $4,446,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of Centene in the 2nd quarter worth approximately $2,660,422,000. Wellington Management Group LLP boosted its stake in shares of Centene by 423.0% during the second quarter. Wellington Management Group LLP now owns 13,301,215 shares of the company’s stock valued at $853,805,000 after purchasing an additional 10,757,914 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Centene by 12.4% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,517,580 shares of the company’s stock valued at $354,173,000 after buying an additional 608,249 shares during the period. Assenagon Asset Management S.A. increased its holdings in Centene by 21.6% during the third quarter. Assenagon Asset Management S.A. now owns 4,518,785 shares of the company’s stock valued at $302,818,000 after buying an additional 802,756 shares during the period. Finally, Bank of America Corp DE purchased a new position in Centene during the second quarter valued at approximately $285,713,000. Institutional investors own 93.63% of the company’s stock.

Analysts Set New Price Targets

CNC has been the subject of a number of recent research reports. Wells Fargo & Company set a $69.00 price objective on shares of Centene and gave the stock an “equal weight” rating in a research note on Monday, July 13th. Robert W. Baird increased their target price on Centene from $46.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. UBS Group set a $79.00 price target on Centene in a report on Tuesday, August 18th. Royal Bank Of Canada lifted their price target on Centene from $70.00 to $71.00 and gave the company a “sector perform” rating in a report on Thursday, July 9th. Finally, JPMorgan Chase & Co. boosted their price target on Centene from $60.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Nine research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $70.05.

Insider Activity at Centene

In related news, General Counsel Christopher Koster sold 56,500 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were 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 of the company’s stock, valued at $16,648,332.60. This trade represents a 18.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.37% of the stock is owned by insiders.

Centene Trading Down 0.8%

Centene stock opened at $68.59 on Tuesday. The stock has a 50-day moving average of $65.46 and a two-hundred day moving average of $60.12. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.15 and a current ratio of 1.15. Centene Corporation has a one year low of $31.63 and a one year high of $71.21. The stock has a market cap of $33.88 billion, a PE ratio of -6.57, a price-to-earnings-growth ratio of 0.44 and a beta of 1.13.

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

Centene Profile

Centene Corporation is a diversified healthcare enterprise that provides government-sponsored and commercial health insurance programs and related healthcare services. The company’s offerings are primarily focused on Medicaid, Medicare, and health insurance marketplace plans, with an emphasis on serving individuals and families who may have limited access to traditional healthcare coverage.

Centene operates Medicaid health plans through state-based contracts and offers Medicare Advantage, Medicare prescription drug, and Medicare Supplement products through its Wellcare brand.