WINTON GROUP Ltd Has $1.06 Million Stock Position in Centene Corporation $CNC

WINTON GROUP Ltd lowered its position in shares of Centene Corporation (NYSE:CNC) by 87.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,500 shares of the company’s stock after selling 112,024 shares during the quarter. WINTON GROUP Ltd’s holdings in Centene were worth $1,059,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CNC. Baird Financial Group Inc. acquired a new stake in Centene in the first quarter worth about $236,000. Sivia Capital Partners LLC lifted its position in Centene by 80.0% during the 2nd quarter. Sivia Capital Partners LLC now owns 9,710 shares of the company’s stock valued at $527,000 after purchasing an additional 4,315 shares during the period. CW Advisors LLC lifted its position in Centene by 20.3% during the 2nd quarter. CW Advisors LLC now owns 4,863 shares of the company’s stock valued at $264,000 after purchasing an additional 820 shares during the period. NewEdge Advisors LLC grew its position in shares of Centene by 6.1% during the 2nd quarter. NewEdge Advisors LLC now owns 44,945 shares of the company’s stock worth $2,440,000 after buying an additional 2,582 shares during the period. Finally, Treasurer of the State of North Carolina raised its stake in shares of Centene by 0.4% during the second quarter. Treasurer of the State of North Carolina now owns 231,938 shares of the company’s stock worth $12,590,000 after buying an additional 967 shares during the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CNC. Argus raised shares of Centene from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research note on Tuesday, August 11th. Truist Financial increased their price target on Centene from $71.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Oppenheimer raised their price target on Centene from $58.00 to $67.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Robert W. Baird lifted their price objective on Centene from $46.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft raised Centene from a “hold” rating to a “buy” rating and increased their target price for the company from $53.00 to $80.00 in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $70.05.

Centene Stock Up 0.0%

CNC stock opened at $66.43 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.15 and a quick ratio of 1.15. The stock has a market capitalization of $32.82 billion, a P/E ratio of -6.36, a P/E/G ratio of 0.42 and a beta of 1.10. Centene Corporation has a fifty-two week low of $31.63 and a fifty-two week high of $69.36. The business has a 50-day moving average of $65.45 and a 200-day moving average of $55.07.

Centene (NYSE:CNC) last announced its earnings results on Monday, July 27th. The company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $1.42. Centene had a positive return on equity of 12.12% and a negative net margin of 2.51%.The business had revenue of $53.58 billion for the quarter, compared to analyst estimates of $47.64 billion. During the same quarter last year, the firm earned ($0.16) EPS. Centene’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Centene Corporation will post 4.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Christopher Koster sold 56,500 shares of the stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $66.90, for a total transaction of $3,779,850.00. Following the completion of the transaction, the general counsel owned 248,854 shares in the company, valued at approximately $16,648,332.60. This represents a 18.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.37% of the company’s stock.

Centene Profile

Centene Corporation (NYSE: CNC) is a managed-care company that provides health insurance and related healthcare services, primarily through government-sponsored programs. Its offerings include Medicaid, Medicare Advantage and Medicare Prescription Drug plans, coverage for individuals and families through the health insurance marketplace, and health services for military families and veterans.

The company markets several healthcare brands, including Ambetter, which provides marketplace plans, and Wellcare, which offers Medicare products.