Centene Co. (NYSE:CNC) Position Boosted by AE Wealth Management LLC

AE Wealth Management LLC grew its position in Centene Co. (NYSE:CNC) by 41.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,142 shares of the company’s stock after acquiring an additional 7,602 shares during the quarter. AE Wealth Management LLC’s holdings in Centene were worth $1,733,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. EP Wealth Advisors LLC increased its holdings in shares of Centene by 1.0% in the 1st quarter. EP Wealth Advisors LLC now owns 13,604 shares of the company’s stock worth $1,068,000 after acquiring an additional 133 shares during the period. WR Wealth Planners LLC raised its stake in shares of Centene by 41.4% during the second quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock valued at $31,000 after purchasing an additional 137 shares in the last quarter. Whittier Trust Co. lifted its holdings in Centene by 10.0% in the second quarter. Whittier Trust Co. now owns 1,562 shares of the company’s stock worth $104,000 after purchasing an additional 142 shares during the period. Fidelis Capital Partners LLC grew its position in Centene by 5.0% in the 1st quarter. Fidelis Capital Partners LLC now owns 3,316 shares of the company’s stock valued at $260,000 after buying an additional 158 shares in the last quarter. Finally, Checchi Capital Advisers LLC increased its stake in Centene by 4.5% during the 1st quarter. Checchi Capital Advisers LLC now owns 3,910 shares of the company’s stock valued at $307,000 after buying an additional 169 shares during the period. 93.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Barclays decreased their target price on Centene from $98.00 to $97.00 and set an “overweight” rating for the company in a research note on Thursday, September 5th. Stephens reaffirmed an “equal weight” rating and set a $78.00 target price on shares of Centene in a report on Monday, August 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price objective on shares of Centene in a research note on Friday. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Finally, Robert W. Baird assumed coverage on Centene in a research report on Thursday, May 30th. They set a “neutral” rating and a $83.00 price objective for the company. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.58.

Centene Trading Down 0.3 %

Shares of NYSE CNC opened at $75.35 on Tuesday. Centene Co. has a 1-year low of $63.45 and a 1-year high of $81.42. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.64. The company has a 50-day moving average of $74.67 and a two-hundred day moving average of $73.43. The company has a market cap of $40.21 billion, a PE ratio of 14.98, a P/E/G ratio of 0.99 and a beta of 0.48.

Centene (NYSE:CNC) last posted its quarterly earnings results on Friday, July 26th. The company reported $2.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.02). The firm had revenue of $39.84 billion during the quarter, compared to the consensus estimate of $36.83 billion. Centene had a net margin of 1.79% and a return on equity of 14.45%. Centene’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.10 EPS. As a group, equities analysts expect that Centene Co. will post 6.82 earnings per share for the current fiscal year.

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.