Moneta Group Investment Advisors LLC boosted its position in Centene Corp (NYSE:CNC) by 629.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 277,324 shares of the company’s stock after acquiring an additional 239,320 shares during the period. Moneta Group Investment Advisors LLC owned 0.07% of Centene worth $998,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CNC. Zions Bancorporation N.A. increased its holdings in Centene by 131.5% in the 1st quarter. Zions Bancorporation N.A. now owns 602 shares of the company’s stock worth $32,000 after acquiring an additional 342 shares in the last quarter. Global Retirement Partners LLC raised its holdings in shares of Centene by 568.0% in the 1st quarter. Global Retirement Partners LLC now owns 648 shares of the company’s stock valued at $34,000 after buying an additional 551 shares during the period. Reilly Financial Advisors LLC grew its stake in shares of Centene by 133.3% in the second quarter. Reilly Financial Advisors LLC now owns 700 shares of the company’s stock worth $37,000 after acquiring an additional 400 shares in the last quarter. Berman Capital Advisors LLC grew its stake in shares of Centene by 369.3% in the first quarter. Berman Capital Advisors LLC now owns 826 shares of the company’s stock worth $43,000 after acquiring an additional 650 shares in the last quarter. Finally, Cullen Frost Bankers Inc. increased its position in shares of Centene by 1,566.7% during the second quarter. Cullen Frost Bankers Inc. now owns 900 shares of the company’s stock worth $47,000 after acquiring an additional 846 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

In related news, Director Jessica L. Blume purchased 2,850 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average cost of $52.99 per share, with a total value of $151,021.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is owned by corporate insiders.

A number of research firms recently issued reports on CNC. ValuEngine lowered Centene from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 2nd. Morgan Stanley cut their price target on Centene from $71.00 to $64.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Finally, Zacks Investment Research cut shares of Centene from a “buy” rating to a “hold” rating and set a $49.00 price objective on the stock. in a report on Monday, September 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. Centene currently has a consensus rating of “Buy” and a consensus target price of $73.95.

Shares of NYSE:CNC traded down $0.33 on Wednesday, reaching $46.98. The company’s stock had a trading volume of 151,189 shares, compared to its average volume of 4,025,669. Centene Corp has a 52-week low of $44.50 and a 52-week high of $74.49. The stock has a market capitalization of $19.12 billion, a P/E ratio of 13.26, a PEG ratio of 0.74 and a beta of 0.85. The stock’s 50-day moving average is $48.47 and its two-hundred day moving average is $53.32. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.07 and a quick ratio of 1.07.

Centene (NYSE:CNC) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.10. Centene had a return on equity of 15.87% and a net margin of 1.84%. The firm had revenue of $18.36 billion for the quarter, compared to analyst estimates of $18.02 billion. During the same quarter last year, the company posted $0.90 earnings per share. The business’s revenue was up 29.4% on a year-over-year basis. Equities analysts forecast that Centene Corp will post 4.42 earnings per share for the current fiscal year.

Centene Company Profile

Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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