Prime Capital Investment Advisors LLC Acquires 9,396 Shares of Centene Corporation $CNC

Prime Capital Investment Advisors LLC increased its stake in shares of Centene Corporation (NYSE:CNC) by 168.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,970 shares of the company’s stock after buying an additional 9,396 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Centene were worth $930,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Parkway Wealth Management Group LLC increased its stake in Centene by 24.8% in the third quarter. Parkway Wealth Management Group LLC now owns 71,570 shares of the company’s stock valued at $4,446,000 after acquiring an additional 14,219 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Centene by 2.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 65,836 shares of the company’s stock worth $4,090,000 after acquiring an additional 1,581 shares in the last quarter. CWA Asset Management Group LLC lifted its holdings in shares of Centene by 11.1% in the third quarter. CWA Asset Management Group LLC now owns 5,149 shares of the company’s stock worth $320,000 after acquiring an additional 516 shares during the last quarter. Kaufman Rossin Wealth LLC lifted its holdings in shares of Centene by 77.9% in the third quarter. Kaufman Rossin Wealth LLC now owns 6,824 shares of the company’s stock worth $424,000 after acquiring an additional 2,989 shares during the last quarter. Finally, Onyx Bridge Wealth Group LLC acquired a new stake in shares of Centene in the 3rd quarter valued at approximately $121,000. 93.63% of the stock is owned by institutional investors.

Insider Activity

In related news, General Counsel Christopher Koster sold 56,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $66.90, for a total value of $3,779,850.00. Following the completion of the transaction, the general counsel owned 248,854 shares in the company, valued at $16,648,332.60. This trade represents a 18.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.37% of the stock is owned by corporate insiders.

Centene Price Performance

Shares of CNC opened at $70.20 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.71. The stock has a market cap of $34.68 billion, a PE ratio of 13.73, a PEG ratio of 0.45 and a beta of 1.13. Centene Corporation has a 12-month low of $31.63 and a 12-month high of $72.50. The business has a 50-day simple moving average of $65.79 and a two-hundred day simple moving average of $60.95.

Centene (NYSE:CNC) last announced its quarterly earnings results on Monday, July 27th. The company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $1.42. Centene had a positive return on equity of 12.12% and a negative net margin of 2.51%. The firm had revenue of $53.58 billion for the quarter, compared to analyst estimates of $47.64 billion. During the same period last year, the firm posted ($0.16) earnings per share. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. Analysts anticipate that Centene Corporation will post 4.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CNC shares. Weiss Ratings raised shares of Centene from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. Wall Street Zen raised shares of Centene from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 18th. Raymond James Financial set a $75.00 price objective on shares of Centene in a research note on Tuesday, July 7th. Morgan Stanley set a $66.00 target price on shares of Centene in a research report on Wednesday, July 29th. Finally, Robert W. Baird boosted their target price on shares of Centene from $46.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Nine investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Centene presently has an average rating of “Hold” and an average price target of $70.05.

About Centene

Centene Corporation is a diversified healthcare enterprise that provides government-sponsored and commercial health insurance programs and related healthcare services. The company’s offerings are primarily focused on Medicaid, Medicare, and health insurance marketplace plans, with an emphasis on serving individuals and families who may have limited access to traditional healthcare coverage.

Centene operates Medicaid health plans through state-based contracts and offers Medicare Advantage, Medicare prescription drug, and Medicare Supplement products through its Wellcare brand.