Centene Corporation (CNC) is Archford Capital Strategies LLC’s 6th Largest Position
Archford Capital Strategies LLC boosted its holdings in Centene Corporation (NYSE:CNC) by 70,697.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 106,196 shares of the company’s stock after purchasing an additional 106,046 shares during the quarter. Centene Corporation comprises approximately 2.3% of Archford Capital Strategies LLC’s portfolio, making the stock its 6th biggest position. Archford Capital Strategies LLC owned approximately 0.06% of Centene Corporation worth $4,396,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. WINTON GROUP Ltd boosted its holdings in shares of Centene Corporation by 210.3% in the second quarter. WINTON GROUP Ltd now owns 316,560 shares of the company’s stock valued at $25,287,000 after acquiring an additional 214,549 shares during the period. Colony Group LLC boosted its holdings in shares of Centene Corporation by 3.1% in the second quarter. Colony Group LLC now owns 36,956 shares of the company’s stock valued at $2,952,000 after acquiring an additional 1,101 shares during the period. Koch Industries Inc. acquired a new stake in shares of Centene Corporation in the second quarter valued at approximately $241,000. Verition Fund Management LLC boosted its holdings in shares of Centene Corporation by 21.0% in the second quarter. Verition Fund Management LLC now owns 8,409 shares of the company’s stock valued at $672,000 after acquiring an additional 1,460 shares during the period. Finally, Cypress Capital Group boosted its holdings in shares of Centene Corporation by 271.3% in the second quarter. Cypress Capital Group now owns 17,304 shares of the company’s stock valued at $1,382,000 after acquiring an additional 12,643 shares during the period. 92.35% of the stock is owned by hedge funds and other institutional investors.
In other Centene Corporation news, EVP Christopher D. Bowers sold 4,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $79.43, for a total transaction of $317,720.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert K. Ditmore sold 4,167 shares of the business’s stock in a transaction on 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 own 3.00% of the company’s stock.
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Centene Corporation (CNC) traded down 3.33% on Friday, reaching $90.56. The company’s stock had a trading volume of 6,397,067 shares. The firm has a market capitalization of $15.62 billion, a P/E ratio of 19.87 and a beta of 0.68. The firm has a 50-day moving average price of $92.66 and a 200 day moving average price of $81.69. Centene Corporation has a 52-week low of $50.00 and a 52-week high of $98.72.
Centene Corporation (NYSE:CNC) last announced its quarterly earnings results on Tuesday, July 25th. The company reported $1.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.29. Centene Corporation had a return on equity of 14.62% and a net margin of 1.72%. The company had revenue of $11.95 billion during the quarter, compared to analyst estimates of $11.69 billion. During the same quarter in the previous year, the firm posted $1.29 EPS. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. Equities analysts anticipate that Centene Corporation will post $4.92 earnings per share for the current fiscal year.
Several equities research analysts have recently weighed in on the company. Deutsche Bank AG reissued a “buy” rating and issued a $111.00 price objective (up from $95.00) on shares of Centene Corporation in a report on Thursday, September 14th. Zacks Investment Research raised Centene Corporation from a “hold” rating to a “buy” rating and set a $107.00 price objective for the company in a report on Friday, September 15th. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $105.00 price objective on shares of Centene Corporation in a report on Friday, September 29th. Jefferies Group LLC increased their price objective on Centene Corporation from $98.00 to $112.00 and gave the company a “buy” rating in a report on Friday. Finally, Cantor Fitzgerald increased their price objective on Centene Corporation to $107.00 and gave the company an “overweight” rating in a report on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $94.22.
About Centene Corporation
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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