Cwm LLC Has $12.35 Million Position in Centene Corporation $CNC

Cwm LLC raised its position in Centene Corporation (NYSE:CNC) by 309.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 346,205 shares of the company’s stock after buying an additional 261,697 shares during the quarter. Cwm LLC owned 0.07% of Centene worth $12,353,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CNC. Grove Bank & Trust increased its position in Centene by 2.8% during the second quarter. Grove Bank & Trust now owns 11,632 shares of the company’s stock worth $631,000 after acquiring an additional 313 shares during the period. Farther Finance Advisors LLC grew its position in shares of Centene by 5.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 6,658 shares of the company’s stock worth $361,000 after purchasing an additional 325 shares in the last quarter. Fulton Bank N.A. increased its holdings in shares of Centene by 5.7% during the second quarter. Fulton Bank N.A. now owns 6,155 shares of the company’s stock worth $334,000 after purchasing an additional 331 shares during the period. Snowden Capital Advisors LLC boosted its stake in shares of Centene by 8.0% in the second quarter. Snowden Capital Advisors LLC now owns 5,073 shares of the company’s stock valued at $275,000 after buying an additional 374 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. grew its position in Centene by 4.6% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,946 shares of the company’s stock worth $543,000 after buying an additional 395 shares in the last quarter. Institutional investors own 93.63% of the company’s stock.

Centene Trading Up 1.6%

CNC opened at $40.52 on Monday. The company’s 50 day moving average is $37.46 and its 200-day moving average is $35.59. The company has a market cap of $19.92 billion, a P/E ratio of -3.75, a PEG ratio of 1.35 and a beta of 0.47. Centene Corporation has a 1-year low of $25.08 and a 1-year high of $66.81. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.83.

Centene (NYSE:CNC) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.71. The business had revenue of $49.69 billion during the quarter, compared to the consensus estimate of $47.50 billion. Centene had a negative net margin of 2.85% and a positive return on equity of 7.82%. The firm’s revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.62 EPS. Equities research analysts predict that Centene Corporation will post 6.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CNC shares. Morgan Stanley upped their target price on Centene from $28.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 14th. UBS Group set a $42.00 price objective on shares of Centene and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Mizuho raised their target price on shares of Centene from $28.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Cowen reaffirmed a “hold” rating on shares of Centene in a report on Friday, October 31st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Centene from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $38.44.

Centene Company Profile

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.