HB Wealth Management LLC Buys 17,005 Shares of Centene Corporation $CNC

HB Wealth Management LLC grew its stake in Centene Corporation (NYSE:CNC) by 354.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,799 shares of the company’s stock after acquiring an additional 17,005 shares during the period. HB Wealth Management LLC’s holdings in Centene were worth $778,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CNC. Grove Bank & Trust increased its holdings in Centene by 2.8% during the 2nd quarter. Grove Bank & Trust now owns 11,632 shares of the company’s stock worth $631,000 after purchasing an additional 313 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Centene by 5.1% in the second quarter. Farther Finance Advisors LLC now owns 6,658 shares of the company’s stock valued at $361,000 after acquiring an additional 325 shares in the last quarter. Fulton Bank N.A. lifted its stake in Centene by 5.7% in the second quarter. Fulton Bank N.A. now owns 6,155 shares of the company’s stock worth $334,000 after acquiring an additional 331 shares during the period. Snowden Capital Advisors LLC grew its holdings in Centene by 8.0% during the 2nd quarter. Snowden Capital Advisors LLC now owns 5,073 shares of the company’s stock worth $275,000 after acquiring an additional 374 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its position in Centene by 29.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,897 shares of the company’s stock valued at $103,000 after purchasing an additional 435 shares during the period. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene Stock Performance

Shares of CNC stock opened at $46.42 on Tuesday. The business has a fifty day moving average of $39.40 and a 200 day moving average of $34.77. Centene Corporation has a 1 year low of $25.08 and a 1 year high of $66.81. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market capitalization of $22.82 billion, a price-to-earnings ratio of -4.29, a price-to-earnings-growth ratio of 1.06 and a beta of 0.48.

Centene (NYSE:CNC) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.71. Centene had a positive return on equity of 7.82% and a negative net margin of 2.85%.The business had revenue of $49.69 billion for the quarter, compared to analyst estimates of $47.50 billion. During the same period in the prior year, the company earned $1.62 earnings per share. The company’s revenue was up 18.2% on a year-over-year basis. As a group, research analysts expect that Centene Corporation will post 6.86 earnings per share for the current year.

Wall Street Analyst Weigh In

CNC has been the topic of a number of recent research reports. Jefferies Financial Group increased their price objective on shares of Centene from $25.00 to $32.00 in a research note on Monday, November 3rd. UBS Group set a $42.00 price target on Centene and gave the company a “neutral” rating in a report on Thursday, October 30th. Barclays set a $44.00 price target on Centene and gave the stock an “equal weight” rating in a research report on Tuesday, November 4th. Mizuho set a $47.00 price objective on Centene in a research report on Friday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Centene from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $40.38.

Centene Profile

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.