Berger Financial Group Inc Boosts Stake in Centene Corporation $CNC

Berger Financial Group Inc raised its position in Centene Corporation (NYSE:CNC) by 2.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 88,447 shares of the company’s stock after purchasing an additional 1,790 shares during the quarter. Berger Financial Group Inc’s holdings in Centene were worth $4,801,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Quarry LP purchased a new position in Centene during the 1st quarter valued at about $26,000. Golden State Wealth Management LLC boosted its stake in shares of Centene by 203.1% in the first quarter. Golden State Wealth Management LLC now owns 579 shares of the company’s stock valued at $35,000 after purchasing an additional 388 shares during the period. Bruce G. Allen Investments LLC grew its holdings in shares of Centene by 273.8% in the first quarter. Bruce G. Allen Investments LLC now owns 927 shares of the company’s stock valued at $56,000 after purchasing an additional 679 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in Centene in the 1st quarter valued at approximately $73,000. Finally, Geneos Wealth Management Inc. grew its stake in shares of Centene by 78.1% in the first quarter. Geneos Wealth Management Inc. now owns 1,462 shares of the company’s stock worth $89,000 after acquiring an additional 641 shares in the last quarter. 93.63% of the stock is owned by institutional investors and hedge funds.

Centene Stock Performance

Shares of Centene stock opened at $38.71 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64. Centene Corporation has a 52 week low of $25.08 and a 52 week high of $73.50. The firm’s 50 day moving average is $29.98 and its two-hundred day moving average is $45.26. The firm has a market capitalization of $19.01 billion, a P/E ratio of 9.58, a P/E/G ratio of 1.57 and a beta of 0.48.

Centene (NYSE:CNC) last issued its earnings results on Friday, July 25th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.39). Centene had a net margin of 1.15% and a return on equity of 9.57%. The company had revenue of $48.74 billion during the quarter, compared to analyst estimates of $44.71 billion. During the same quarter in the previous year, the company posted $2.42 EPS. The company’s quarterly revenue was up 22.4% on a year-over-year basis. Centene has set its FY 2025 guidance at 1.750-1.750 EPS. Research analysts forecast that Centene Corporation will post 6.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CNC shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $38.00 target price on shares of Centene in a report on Tuesday, August 26th. TD Cowen reiterated a “hold” rating and issued a $33.00 price objective (down previously from $73.00) on shares of Centene in a research note on Monday, July 21st. Barclays upped their target price on shares of Centene from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, September 12th. Oppenheimer decreased their price target on shares of Centene from $51.00 to $43.00 and set an “outperform” rating for the company in a research note on Monday, July 28th. Finally, Robert W. Baird dropped their price objective on shares of Centene from $68.00 to $28.00 and set a “neutral” rating on the stock in a research report on Friday, July 25th. Three investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $38.33.

Insider Transactions at Centene

In other news, Director Theodore R. Samuels II bought 9,000 shares of Centene stock in a transaction dated Monday, July 28th. The stock was acquired at an average cost of $27.62 per share, with a total value of $248,580.00. Following the acquisition, the director owned 32,000 shares of the company’s stock, valued at approximately $883,840. This trade represents a 39.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sarah London purchased 19,230 shares of the business’s stock in a transaction on Friday, August 8th. The shares were purchased at an average cost of $25.50 per share, for a total transaction of $490,365.00. Following the transaction, the chief executive officer owned 845,275 shares of the company’s stock, valued at $21,554,512.50. This trade represents a 2.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.36% of the stock is currently owned by insiders.

Centene Company Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children’s health insurance program, foster care, medicare-medicaid plans, long-term services and support.