Moneta Group Investment Advisors LLC boosted its holdings in Centene Corp (NYSE:CNC) by 629.7% in the second quarter, HoldingsChannel.com reports. The firm owned 277,324 shares of the company’s stock after acquiring an additional 239,320 shares during the period. Moneta Group Investment Advisors LLC’s holdings in Centene were worth $998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Zions Bancorporation N.A. lifted its position in Centene by 131.5% during the 1st quarter. Zions Bancorporation N.A. now owns 602 shares of the company’s stock worth $32,000 after acquiring an additional 342 shares during the period. Global Retirement Partners LLC increased its stake in shares of Centene by 568.0% in the first quarter. Global Retirement Partners LLC now owns 648 shares of the company’s stock worth $34,000 after acquiring an additional 551 shares during the period. Reilly Financial Advisors LLC increased its stake in shares of Centene by 133.3% in the second quarter. Reilly Financial Advisors LLC now owns 700 shares of the company’s stock worth $37,000 after acquiring an additional 400 shares during the period. Berman Capital Advisors LLC grew its position in Centene by 369.3% during the 1st quarter. Berman Capital Advisors LLC now owns 826 shares of the company’s stock worth $43,000 after purchasing an additional 650 shares during the period. Finally, Cullen Frost Bankers Inc. raised its stake in shares of Centene by 1,566.7% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 900 shares of the company’s stock valued at $47,000 after buying an additional 846 shares during the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

In other Centene news, Director Jessica L. Blume bought 2,850 shares of Centene stock in a transaction dated Friday, July 26th. The stock was acquired at an average cost of $52.99 per share, for a total transaction of $151,021.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.50% of the stock is owned by corporate insiders.

Shares of NYSE:CNC traded down $0.33 during trading on Wednesday, reaching $46.98. The stock had a trading volume of 151,189 shares, compared to its average volume of 4,025,669. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.07 and a current ratio of 1.07. Centene Corp has a 1-year low of $44.50 and a 1-year high of $74.49. The stock has a market cap of $19.12 billion, a PE ratio of 13.26, a PEG ratio of 0.74 and a beta of 0.85. The business has a fifty day moving average price of $48.47 and a 200-day moving average price of $53.32.

Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.10. The firm had revenue of $18.36 billion during the quarter, compared to the consensus estimate of $18.02 billion. Centene had a return on equity of 15.87% and a net margin of 1.84%. The firm’s revenue was up 29.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 EPS. Sell-side analysts expect that Centene Corp will post 4.42 earnings per share for the current year.

A number of equities research analysts have recently commented on CNC shares. Morgan Stanley dropped their target price on Centene from $71.00 to $64.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Zacks Investment Research cut Centene from a “buy” rating to a “hold” rating and set a $49.00 price target for the company. in a report on Monday, September 2nd. Finally, ValuEngine lowered Centene from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $73.95.

Centene Profile

Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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