SVB Wealth LLC Invests $433,000 in Centene Co. (NYSE:CNC)

SVB Wealth LLC acquired a new stake in Centene Co. (NYSE:CNC) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 7,152 shares of the company’s stock, valued at approximately $433,000.

A number of other large investors have also recently bought and sold shares of CNC. Harris Associates L P lifted its position in shares of Centene by 5.7% in the third quarter. Harris Associates L P now owns 26,314,183 shares of the company’s stock worth $1,980,932,000 after buying an additional 1,420,825 shares during the last quarter. State Street Corp lifted its holdings in Centene by 0.5% in the 3rd quarter. State Street Corp now owns 23,468,159 shares of the company’s stock worth $1,766,683,000 after purchasing an additional 111,654 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Centene by 3.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,768,534 shares of the company’s stock worth $434,255,000 after purchasing an additional 194,566 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in Centene by 15.4% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 3,203,049 shares of the company’s stock valued at $241,126,000 after purchasing an additional 428,100 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Centene by 693.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,705,936 shares of the company’s stock valued at $103,346,000 after purchasing an additional 1,490,935 shares during the period. 93.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CNC has been the topic of a number of research analyst reports. Jefferies Financial Group lowered shares of Centene from a “hold” rating to an “underperform” rating and lowered their target price for the company from $68.00 to $52.00 in a research note on Tuesday, December 10th. Argus downgraded Centene from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. StockNews.com downgraded Centene from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Barclays lifted their price target on Centene from $91.00 to $93.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, Truist Financial reduced their price objective on Centene from $89.00 to $84.00 and set a “buy” rating for the company in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Centene currently has a consensus rating of “Moderate Buy” and an average price target of $79.92.

Centene Price Performance

Shares of Centene stock opened at $57.99 on Wednesday. Centene Co. has a twelve month low of $55.03 and a twelve month high of $80.59. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 1.11. The firm has a market cap of $28.76 billion, a P/E ratio of 9.29, a price-to-earnings-growth ratio of 0.80 and a beta of 0.45. The firm’s 50-day simple moving average is $60.89 and its 200-day simple moving average is $64.82.

Centene (NYSE:CNC) last issued its earnings results on Tuesday, February 4th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.31. The business had revenue of $40.81 billion during the quarter, compared to analysts’ expectations of $38.78 billion. Centene had a return on equity of 13.85% and a net margin of 2.03%. Centene’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.45 EPS. As a group, research analysts expect that Centene Co. will post 6.86 EPS for the current fiscal year.

Insider Activity

In other Centene news, Director Theodore R. Samuels II purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average cost of $58.86 per share, for a total transaction of $294,300.00. Following the transaction, the director now directly owns 23,000 shares in the company, valued at approximately $1,353,780. The trade was a 27.78 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director H James Dallas acquired 1,693 shares of the business’s stock in a transaction on Monday, December 16th. The stock was acquired at an average price of $59.01 per share, with a total value of $99,903.93. Following the transaction, the director now owns 1,693 shares in the company, valued at approximately $99,903.93. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 23,693 shares of company stock worth $1,409,954. Corporate insiders own 0.33% of the company’s stock.

Centene 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.