State of Alaska Department of Revenue Purchases 310 Shares of Centene Co. (NYSE:CNC)

State of Alaska Department of Revenue boosted its holdings in Centene Co. (NYSE:CNC) by 0.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 68,474 shares of the company’s stock after buying an additional 310 shares during the period. State of Alaska Department of Revenue’s holdings in Centene were worth $5,373,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CNC. MBM Wealth Consultants LLC raised its stake in Centene by 4.2% during the 1st quarter. MBM Wealth Consultants LLC now owns 14,974 shares of the company’s stock valued at $1,175,000 after purchasing an additional 610 shares during the period. MV Capital Management Inc. raised its position in shares of Centene by 2.8% during the first quarter. MV Capital Management Inc. now owns 27,024 shares of the company’s stock valued at $2,121,000 after buying an additional 729 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Centene by 92.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 449,025 shares of the company’s stock worth $35,239,000 after buying an additional 215,432 shares in the last quarter. Oliver Luxxe Assets LLC boosted its position in shares of Centene by 1.0% during the first quarter. Oliver Luxxe Assets LLC now owns 46,214 shares of the company’s stock worth $3,627,000 after acquiring an additional 449 shares during the last quarter. Finally, Diversified Trust Co grew its stake in Centene by 30.6% during the first quarter. Diversified Trust Co now owns 20,624 shares of the company’s stock valued at $1,619,000 after acquiring an additional 4,828 shares in the last quarter. 93.63% of the stock is owned by institutional investors.

Centene Trading Up 0.9 %

CNC stock opened at $66.76 on Thursday. Centene Co. has a 12 month low of $60.83 and a 12 month high of $81.42. The firm’s 50-day moving average is $72.00 and its 200 day moving average is $74.68. The company has a market capitalization of $35.63 billion, a PE ratio of 13.27, a P/E/G ratio of 0.85 and a beta of 0.50. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.17 and a quick ratio of 1.17.

Centene (NYSE:CNC) last issued its earnings results on Friday, April 26th. The company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.17. Centene had a net margin of 1.76% and a return on equity of 14.19%. The business had revenue of $40.41 billion for the quarter, compared to analyst estimates of $36.43 billion. During the same period last year, the company posted $2.11 earnings per share. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, research analysts anticipate that Centene Co. will post 6.82 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price target on shares of Centene in a research note on Wednesday, June 12th. Barclays increased their price target on Centene from $101.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Wells Fargo & Company lifted their price objective on Centene from $89.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Deutsche Bank Aktiengesellschaft upped their price objective on Centene from $81.00 to $82.00 and gave the stock a “hold” rating in a report on Tuesday, April 30th. Finally, Baird R W raised shares of Centene to a “hold” rating in a report on Thursday, May 30th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Centene has an average rating of “Hold” and an average price target of $84.93.

Insiders Place Their Bets

In related news, President Kenneth J. Fasola sold 8,000 shares of Centene stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $77.62, for a total value of $620,960.00. Following the completion of the sale, the president now directly owns 300,357 shares in the company, valued at $23,313,710.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, President Kenneth J. Fasola sold 8,000 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $77.62, for a total transaction of $620,960.00. Following the transaction, the president now directly owns 300,357 shares in the company, valued at $23,313,710.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Christopher J. Coughlin sold 878 shares of Centene stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $76.75, for a total value of $67,386.50. Following the completion of the transaction, the director now owns 25,504 shares in the company, valued at $1,957,432. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

About Centene

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.