7,593 Centene Corporation $CNC Shares Purchased by Quadcap Wealth Management LLC

Quadcap Wealth Management LLC boosted its stake in shares of Centene Corporation (NYSE:CNC) by 218.9% during the third quarter, HoldingsChannel.com reports. The firm owned 11,062 shares of the company’s stock after acquiring an additional 7,593 shares during the period. Quadcap Wealth Management LLC’s holdings in Centene were worth $687,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other news, General Counsel Christopher Koster sold 56,500 shares of Centene 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 transaction, the general counsel owned 248,854 shares of the company’s stock, valued at $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 SEC, which can be accessed through this hyperlink. 0.37% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on CNC shares. Morgan Stanley set a $71.00 price objective on Centene and gave the stock an “equal weight” rating in a report on Wednesday, October 28th. Zacks Research downgraded Centene from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $69.00 target price on shares of Centene in a research report on Thursday, October 29th. Raymond James Financial set a $79.00 price target on Centene in a research note on Wednesday, October 28th. Finally, TD Cowen reiterated a “hold” rating and set a $65.00 price target (up from $47.00) on shares of Centene in a report on Tuesday, July 14th. Nine research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $73.80.

Centene Stock Down 6.0%

Shares of Centene stock traded down $4.48 during midday trading on Friday, reaching $69.69. 5,807,334 shares of the company’s stock traded hands, compared to its average volume of 4,824,360. The company has a market cap of $34.50 billion, a price-to-earnings ratio of 23.87, a price-to-earnings-growth ratio of 0.39 and a beta of 1.07. The company’s 50 day simple moving average is $66.64 and its 200 day simple moving average is $55.88. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.16 and a current ratio of 1.16. Centene Corporation has a 52 week low of $31.63 and a 52 week high of $78.08.

Centene (NYSE:CNC) last issued its quarterly earnings data on Tuesday, October 27th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.48. The firm had revenue of $50.65 billion during the quarter, compared to analysts’ expectations of $47.12 billion. Centene had a net margin of 0.72% and a return on equity of 12.15%. Centene’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.50 earnings per share. Equities analysts expect that Centene Corporation will post 5.27 earnings per share for the current fiscal year.

Centene Company Profile

Centene Corporation is a U.S. health care company that provides managed care and related services, primarily for people enrolled in government-sponsored health programs. Its offerings include Medicaid and Medicare plans, as well as health insurance sold through the Affordable Care Act marketplace.

Centene serves members through health plans and a network of health care providers. Its businesses include Ambetter, which offers marketplace health plans, and Wellcare, which provides Medicare-related coverage.