Centene Corporation $CNC Shares Bought by SVB Wealth LLC

SVB Wealth LLC grew its position in Centene Corporation (NYSE:CNC) by 32.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 56,159 shares of the company’s stock after purchasing an additional 13,764 shares during the period. SVB Wealth LLC’s holdings in Centene were worth $1,839,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Kestra Advisory Services LLC boosted its position in shares of Centene by 0.5% in the 4th quarter. Kestra Advisory Services LLC now owns 52,602 shares of the company’s stock worth $2,165,000 after purchasing an additional 264 shares in the last quarter. Arkadios Wealth Advisors increased its position in Centene by 4.2% during the 4th quarter. Arkadios Wealth Advisors now owns 7,465 shares of the company’s stock valued at $307,000 after buying an additional 300 shares in the last quarter. Affinity Investment Advisors LLC raised its stake in Centene by 3.0% in the fourth quarter. Affinity Investment Advisors LLC now owns 10,927 shares of the company’s stock valued at $450,000 after buying an additional 316 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its holdings in Centene by 5.7% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 5,975 shares of the company’s stock worth $246,000 after acquiring an additional 324 shares in the last quarter. Finally, Burney Co. grew its stake in shares of Centene by 3.8% during the fourth quarter. Burney Co. now owns 9,053 shares of the company’s stock worth $373,000 after acquiring an additional 331 shares during the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene News Summary

Here are the key news stories impacting Centene this week:

• Positive Sentiment: RBC started coverage on Centene with a “sector perform” rating and a $70 price target, implying upside from current levels and reinforcing investor confidence in the stock. RBC coverage on Centene
• Positive Sentiment: Zacks highlighted Centene as a Strong Buy growth stock and also called it a strong value and strong momentum name, suggesting improving market sentiment around the shares. Zacks growth stocks list
• Positive Sentiment: Centene announced the appointment of Lauren M. Tyler to its Board of Directors, a governance move that can be viewed as a sign of continued board refreshment and strategic oversight. Centene appoints Lauren M. Tyler to board
• Neutral Sentiment: Health Net said it is providing special assistance to members and providers affected by the Palos warehouse fire in Los Angeles; this is operationally supportive but not likely to materially change Centene’s fundamentals on its own. Health Net wildfire assistance
• Neutral Sentiment: Commentary pieces on Centene’s governance, efficiency, and style scores mainly reinforce the investment case rather than introduce a new catalyst. Centene governance and efficiency article

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Zacks Research raised shares of Centene from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. Raymond James Financial set a $60.00 target price on shares of Centene in a research report on Wednesday, April 29th. Royal Bank Of Canada began coverage on shares of Centene in a report on Tuesday. They issued a “sector perform” rating and a $70.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Centene in a research note on Thursday, June 11th. Finally, Barclays reissued an “overweight” rating on shares of Centene in a research report on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $60.78.

Centene Price Performance

Shares of NYSE:CNC opened at $63.36 on Wednesday. Centene Corporation has a twelve month low of $25.08 and a twelve month high of $66.55. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.76. The company has a market cap of $31.29 billion, a PE ratio of -4.82, a price-to-earnings-growth ratio of 0.50 and a beta of 1.09. The company’s 50 day moving average is $55.04 and its 200 day moving average is $45.50.

Centene (NYSE:CNC) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $3.37 EPS for the quarter, beating the consensus estimate of $2.23 by $1.14. The business had revenue of $49.94 billion during the quarter, compared to analysts’ expectations of $47.53 billion. Centene had a negative net margin of 3.25% and a positive return on equity of 5.57%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.90 EPS. On average, sell-side analysts forecast that Centene Corporation will post 3.45 EPS for the current year.

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.