Wealthfront Advisers LLC Has $3.63 Million Holdings in Centene Corporation $CNC

Wealthfront Advisers LLC grew its holdings in Centene Corporation (NYSE:CNC) by 187.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 66,790 shares of the company’s stock after buying an additional 43,595 shares during the period. Wealthfront Advisers LLC’s holdings in Centene were worth $3,625,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Invesco Ltd. increased its holdings in shares of Centene by 5.1% in the first quarter. Invesco Ltd. now owns 11,091,964 shares of the company’s stock valued at $673,393,000 after purchasing an additional 536,508 shares during the last quarter. AQR Capital Management LLC raised its holdings in Centene by 42.7% in the 1st quarter. AQR Capital Management LLC now owns 11,049,494 shares of the company’s stock valued at $669,820,000 after acquiring an additional 3,306,796 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Centene by 3.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,810,489 shares of the company’s stock worth $292,045,000 after acquiring an additional 143,573 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Centene by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,433,451 shares of the company’s stock valued at $269,134,000 after purchasing an additional 28,462 shares during the last quarter. Finally, LSV Asset Management increased its stake in shares of Centene by 23.7% during the first quarter. LSV Asset Management now owns 4,055,764 shares of the company’s stock worth $246,225,000 after purchasing an additional 776,331 shares during the period. Institutional investors own 93.63% of the company’s stock.

Centene Stock Performance

Shares of NYSE:CNC opened at $33.18 on Wednesday. Centene Corporation has a 1 year low of $25.08 and a 1 year high of $66.81. The stock has a market capitalization of $16.30 billion, a price-to-earnings ratio of 8.21, a price-to-earnings-growth ratio of 1.30 and a beta of 0.48. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10. The company’s 50 day simple moving average is $33.17 and its 200 day simple moving average is $42.15.

Analysts Set New Price Targets

CNC has been the topic of a number of research reports. The Goldman Sachs Group assumed coverage on Centene in a report on Tuesday, October 14th. They issued a “sell” rating and a $33.00 price objective on the stock. Mizuho lifted their price objective on shares of Centene from $28.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, October 9th. JPMorgan Chase & Co. lowered their target price on shares of Centene from $48.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, July 29th. Weiss Ratings reiterated a “sell (d)” rating on shares of Centene in a research note on Wednesday, October 8th. Finally, Barclays raised their price objective on Centene from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, September 12th. Three analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $39.50.

Insider Activity at Centene

In other Centene news, CEO Sarah London purchased 19,230 shares of the stock in a transaction dated Friday, August 8th. The stock was bought at an average price of $25.50 per share, with a total value of $490,365.00. Following the acquisition, the chief executive officer owned 845,275 shares of the company’s stock, valued at approximately $21,554,512.50. This represents a 2.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.36% of the company’s stock.

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.