Marks Group Wealth Management Inc Buys 1,242 Shares of Centene Co. (NYSE:CNC)

Marks Group Wealth Management Inc boosted its stake in shares of Centene Co. (NYSE:CNC) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 83,192 shares of the company’s stock after purchasing an additional 1,242 shares during the period. Marks Group Wealth Management Inc’s holdings in Centene were worth $6,174,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Sandy Spring Bank raised its holdings in shares of Centene by 10.1% in the 4th quarter. Sandy Spring Bank now owns 1,629 shares of the company’s stock valued at $121,000 after purchasing an additional 150 shares during the period. Signaturefd LLC raised its stake in Centene by 1.5% in the third quarter. Signaturefd LLC now owns 10,456 shares of the company’s stock valued at $720,000 after buying an additional 158 shares during the period. First Bank & Trust lifted its position in shares of Centene by 4.1% in the fourth quarter. First Bank & Trust now owns 4,154 shares of the company’s stock valued at $308,000 after buying an additional 162 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Centene by 7.2% during the 4th quarter. Blue Trust Inc. now owns 2,454 shares of the company’s stock worth $169,000 after acquiring an additional 164 shares during the period. Finally, Cornercap Investment Counsel Inc. raised its stake in Centene by 0.5% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 32,396 shares of the company’s stock valued at $2,404,000 after acquiring an additional 174 shares during the period. 93.63% of the stock is currently owned by institutional investors.

Centene Stock Up 0.3 %

Shares of NYSE CNC opened at $75.84 on Wednesday. Centene Co. has a 52 week low of $60.83 and a 52 week high of $81.42. The stock’s fifty day moving average is $76.50 and its 200 day moving average is $74.74. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $40.57 billion, a P/E ratio of 15.45, a PEG ratio of 0.94 and a beta of 0.38.

Centene (NYSE:CNC) last issued its earnings results on Tuesday, February 6th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02. The company had revenue of $39.46 billion during the quarter, compared to analysts’ expectations of $36.16 billion. Centene had a net margin of 1.75% and a return on equity of 14.26%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 EPS. Sell-side analysts forecast that Centene Co. will post 6.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Lori Jean Robinson sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $77.41, for a total value of $774,100.00. Following the sale, the director now directly owns 11,455 shares of the company’s stock, valued at $886,731.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, President Kenneth J. Fasola sold 12,000 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $75.07, for a total value of $900,840.00. Following the completion of the transaction, the president now directly owns 235,365 shares in the company, valued at approximately $17,668,850.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lori Jean Robinson sold 10,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $77.41, for a total value of $774,100.00. Following the sale, the director now owns 11,455 shares in the company, valued at approximately $886,731.55. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CNC shares. Stephens reaffirmed an “equal weight” rating and set a $85.00 price objective (down from $92.00) on shares of Centene in a research report on Thursday, March 21st. Barclays started coverage on shares of Centene in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $101.00 price target on the stock. Wells Fargo & Company raised their price objective on shares of Centene from $89.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 target price on shares of Centene in a research note on Thursday, April 4th. Finally, StockNews.com downgraded Centene from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 28th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.38.

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.