Stephens Inc. AR Grows Stock Holdings in Centene Co. (NYSE:CNC)

Stephens Inc. AR increased its stake in shares of Centene Co. (NYSE:CNCGet Rating) by 200.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,986 shares of the company’s stock after buying an additional 5,328 shares during the period. Stephens Inc. AR’s holdings in Centene were worth $672,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC purchased a new stake in shares of Centene in the fourth quarter valued at about $26,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Centene by 269.3% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 325 shares of the company’s stock valued at $27,000 after purchasing an additional 237 shares in the last quarter. GHP Investment Advisors Inc. purchased a new stake in shares of Centene in the first quarter valued at about $27,000. Chilton Capital Management LLC purchased a new stake in shares of Centene in the fourth quarter valued at about $28,000. Finally, Sageworth Trust Co of South Dakota purchased a new stake in shares of Centene in the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 92.32% of the company’s stock.

Insider Activity at Centene

In related news, EVP Shannon Bagley sold 9,000 shares of the firm’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $92.21, for a total transaction of $829,890.00. Following the completion of the sale, the executive vice president now directly owns 118,194 shares of the company’s stock, valued at approximately $10,898,668.74. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Shannon Bagley sold 9,000 shares of the firm’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $92.21, for a total transaction of $829,890.00. Following the completion of the sale, the executive vice president now directly owns 118,194 shares of the company’s stock, valued at approximately $10,898,668.74. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard A. Gephardt sold 10,220 shares of the stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $84.03, for a total transaction of $858,786.60. Following the transaction, the director now owns 27,040 shares in the company, valued at $2,272,171.20. The disclosure for this sale can be found here. In the last three months, insiders sold 28,200 shares of company stock valued at $2,458,274. Corporate insiders own 1.50% of the company’s stock.

Centene Price Performance

Centene stock opened at $93.31 on Wednesday. Centene Co. has a 52-week low of $59.67 and a 52-week high of $94.58. The firm has a fifty day moving average of $85.01 and a 200-day moving average of $83.84. The firm has a market capitalization of $54.13 billion, a P/E ratio of 29.62, a PEG ratio of 1.19 and a beta of 0.50. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.70.

Centene (NYSE:CNCGet Rating) last released its quarterly earnings data on Tuesday, July 26th. The company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.18. The company had revenue of $35.94 billion during the quarter, compared to analyst estimates of $35.56 billion. Centene had a net margin of 1.35% and a return on equity of 12.92%. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 earnings per share. As a group, analysts predict that Centene Co. will post 5.69 EPS for the current year.

Centene declared that its board has approved a share buyback plan on Friday, June 17th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CNC shares. Barclays started coverage on shares of Centene in a research report on Thursday, July 28th. They issued an “overweight” rating and a $107.00 price objective for the company. Mizuho boosted their price objective on shares of Centene from $84.00 to $92.00 and gave the company a “maintains” rating in a research report on Wednesday, July 27th. Loop Capital started coverage on shares of Centene in a research report on Thursday, June 16th. They issued a “buy” rating and a $100.00 price objective for the company. Truist Financial boosted their price objective on shares of Centene from $102.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. Finally, Wells Fargo & Company cut their price objective on shares of Centene from $96.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, May 25th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Centene presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.33.

Centene Profile

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Centene Corporation operates as a multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. Its 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 cover 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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