Mosaic Family Wealth LLC Has $595,000 Position in Centene Corp (CNC)
Mosaic Family Wealth LLC cut its stake in shares of Centene Corp (NYSE:CNC) by 8.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 7,447 shares of the company’s stock after selling 727 shares during the period. Mosaic Family Wealth LLC’s holdings in Centene Corp were worth $595,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Centene Corp by 3,408.1% in the first quarter. BlackRock Inc. now owns 15,510,470 shares of the company’s stock valued at $1,105,275,000 after buying an additional 15,068,340 shares during the last quarter. OppenheimerFunds Inc. boosted its stake in shares of Centene Corp by 271.2% in the first quarter. OppenheimerFunds Inc. now owns 1,799,160 shares of the company’s stock valued at $128,208,000 after buying an additional 1,314,514 shares during the last quarter. Pioneer Investment Management Inc. boosted its stake in shares of Centene Corp by 1,534.7% in the first quarter. Pioneer Investment Management Inc. now owns 1,369,670 shares of the company’s stock valued at $97,603,000 after buying an additional 1,285,885 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Centene Corp by 108.0% in the first quarter. AQR Capital Management LLC now owns 2,088,867 shares of the company’s stock valued at $148,853,000 after buying an additional 1,084,628 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of Centene Corp during the first quarter valued at approximately $55,478,000. Institutional investors and hedge funds own 93.09% of the company’s stock.
Shares of Centene Corp (CNC) traded up 0.53% during trading on Monday, hitting $83.93. The stock had a trading volume of 45,319 shares. Centene Corp has a 52 week low of $50.00 and a 52 week high of $87.94. The firm has a 50 day moving average price of $82.43 and a 200-day moving average price of $75.20. The stock has a market capitalization of $14.48 billion, a price-to-earnings ratio of 18.42 and a beta of 0.66.
Centene Corp (NYSE:CNC) last posted its earnings results on Tuesday, July 25th. The company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.29. The company had revenue of $11.95 billion for the quarter, compared to the consensus estimate of $11.69 billion. Centene Corp had a return on equity of 16.37% and a net margin of 2.11%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.29 earnings per share. On average, equities research analysts forecast that Centene Corp will post $4.92 EPS for the current fiscal year.
CNC has been the topic of several analyst reports. Zacks Investment Research cut Centene Corp from a “buy” rating to a “hold” rating in a report on Wednesday, May 10th. Morgan Stanley initiated coverage on Centene Corp in a report on Tuesday, June 6th. They issued an “overweight” rating and a $86.00 target price on the stock. Bank of America Corporation upped their target price on Centene Corp from $93.00 to $95.00 and gave the company a “buy” rating in a report on Friday, July 14th. Evercore ISI upped their target price on Centene Corp from $80.00 to $83.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $81.00 target price (up from $78.00) on shares of Centene Corp in a report on Monday, June 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the stock. Centene Corp currently has a consensus rating of “Buy” and an average target price of $86.82.
In related news, EVP Christopher D. Bowers sold 4,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $79.43, for a total value of $317,720.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert K. Ditmore sold 4,167 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $82.59, for a total value of $344,152.53. The disclosure for this sale can be found here. Insiders sold 53,578 shares of company stock worth $4,264,757 over the last quarter. 3.00% of the stock is owned by company insiders.
About Centene Corp
Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.
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