Sii Investments Inc. WI Purchases Shares of 2,511 Centene Corporation (CNC)
Sii Investments Inc. WI purchased a new stake in Centene Corporation (NYSE:CNC) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,511 shares of the company’s stock, valued at approximately $202,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Mckinley Capital Management LLC Delaware acquired a new position in shares of Centene Corporation in the 2nd quarter valued at $101,000. Seven Bridges Advisors LLC acquired a new position in shares of Centene Corporation in the 2nd quarter valued at $123,000. IFP Advisors Inc boosted its holdings in shares of Centene Corporation by 9.6% in the 2nd quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock valued at $155,000 after purchasing an additional 170 shares during the last quarter. MV Capital Management Inc. acquired a new position in shares of Centene Corporation in the 2nd quarter valued at $186,000. Finally, Eagle Global Advisors LLC acquired a new position in shares of Centene Corporation in the 2nd quarter valued at $216,000. Institutional investors own 92.35% of the company’s stock.
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A number of equities analysts have weighed in on the stock. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $105.00 price target on shares of Centene Corporation in a report on Friday, September 29th. Piper Jaffray Companies reiterated a “buy” rating and issued a $105.00 price target on shares of Centene Corporation in a report on Thursday, July 27th. Jefferies Group LLC reiterated a “buy” rating and issued a $98.00 price target on shares of Centene Corporation in a report on Thursday, July 27th. ValuEngine raised shares of Centene Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 27th. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $90.00 target price on shares of Centene Corporation in a research note on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $93.44.
Centene Corporation (NYSE:CNC) traded down 0.76% during midday trading on Monday, reaching $97.27. 35,717 shares of the company traded hands. The stock has a market capitalization of $16.73 billion, a price-to-earnings ratio of 28.38 and a beta of 0.68. Centene Corporation has a 12 month low of $50.00 and a 12 month high of $98.71. The firm has a 50 day moving average of $91.09 and a 200-day moving average of $80.65.
Centene Corporation (NYSE:CNC) last posted its quarterly earnings data on Tuesday, July 25th. The company reported $1.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.29. The business had revenue of $11.95 billion during the quarter, compared to the consensus estimate of $11.69 billion. Centene Corporation had a net margin of 1.72% and a return on equity of 14.62%. Centene Corporation’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.29 EPS. Analysts forecast that Centene Corporation will post $4.92 EPS for the current fiscal year.
In related news, EVP Christopher D. Bowers sold 4,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $79.43, for a total transaction of $317,720.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert K. Ditmore sold 4,167 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $82.59, for a total transaction of $344,152.53. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.
Centene Corporation Profile
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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