4,064 Shares in Centene Co. (NYSE:CNC) Acquired by CWA Asset Management Group LLC

Posted by on Mar 19th, 2023

CWA Asset Management Group LLC bought a new position in Centene Co. (NYSE:CNC – Get Rating) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 4,064 shares of the company’s stock, valued at approximately $333,000.

A number of other institutional investors also recently bought and sold shares of the stock. Yousif Capital Management LLC boosted its stake in Centene by 5.1% in the 4th quarter. Yousif Capital Management LLC now owns 97,107 shares of the company’s stock worth $7,964,000 after purchasing an additional 4,730 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position in Centene by 588.4% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 2,898 shares of the company’s stock worth $238,000 after buying an additional 2,477 shares during the last quarter. EP Wealth Advisors LLC purchased a new position in Centene during the 3rd quarter worth approximately $2,138,000. Robeco Institutional Asset Management B.V. raised its position in Centene by 3.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 480,998 shares of the company’s stock worth $37,425,000 after buying an additional 16,844 shares during the last quarter. Finally, Toroso Investments LLC raised its position in Centene by 156.4% during the 3rd quarter. Toroso Investments LLC now owns 18,741 shares of the company’s stock worth $1,458,000 after buying an additional 11,433 shares during the last quarter. 93.28% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO James E. Murray purchased 6,750 shares of the stock in a transaction dated Wednesday, February 8th. The shares were purchased at an average price of $73.30 per share, with a total value of $494,775.00. Following the transaction, the chief operating officer now owns 136,220 shares in the company, valued at approximately $9,984,926. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Theodore R. Samuels II purchased 7,000 shares of the stock in a transaction dated Wednesday, February 8th. The shares were purchased at an average price of $71.88 per share, with a total value of $503,160.00. Following the transaction, the director now owns 11,912 shares in the company, valued at approximately $856,234.56. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO James E. Murray purchased 6,750 shares of the stock in a transaction dated Wednesday, February 8th. The shares were purchased at an average cost of $73.30 per share, for a total transaction of $494,775.00. Following the transaction, the chief operating officer now owns 136,220 shares in the company, valued at approximately $9,984,926. The disclosure for this purchase can be found here. Insiders have acquired a total of 46,750 shares of company stock valued at $3,091,605 in the last 90 days. 0.28% of the stock is owned by insiders.

Centene Trading Down 1.0 %

Shares of CNC opened at $62.55 on Friday. Centene Co. has a 52-week low of $61.82 and a 52-week high of $98.53. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.74. The firm’s fifty day moving average is $71.97 and its two-hundred day moving average is $78.75. The stock has a market cap of $34.48 billion, a PE ratio of 30.66, a price-to-earnings-growth ratio of 0.75 and a beta of 0.56.

Centene (NYSE:CNC – Get Rating) last announced its earnings results on Tuesday, February 7th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.01). Centene had a return on equity of 12.98% and a net margin of 0.83%. The business had revenue of $35.56 billion for the quarter, compared to analyst estimates of $35.37 billion. During the same period last year, the firm earned $1.01 EPS. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. Research analysts forecast that Centene Co. will post 6.34 earnings per share for the current fiscal year.

Centene declared that its Board of Directors has authorized a stock repurchase plan on Friday, December 16th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 4.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

CNC has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft lowered shares of Centene from a “buy” rating to a “hold” rating and reduced their price target for the stock from $94.00 to $79.00 in a research report on Wednesday, March 8th. Bank of America lowered shares of Centene from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $100.00 to $85.00 in a research report on Tuesday, December 13th. Argus lifted their target price on shares of Centene from $95.00 to $99.00 in a report on Wednesday, December 14th. Morgan Stanley cut their target price on shares of Centene from $103.00 to $94.00 and set an “overweight” rating for the company in a report on Thursday, March 9th. Finally, Credit Suisse Group lifted their target price on shares of Centene from $104.00 to $106.00 and gave the company an “outperform” rating in a report on Monday, December 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $96.94.

Centene Profile

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Centene Corp. operates as a healthcare enterprise, which engages in the provision of programs and services to government sponsored healthcare programs. It operates through the following segments: Medicaid, Medicare, Commercial, and Other. The company was founded in 1984 and is headquartered in St. Louis, MO.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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