Centene Corporation $CNC Stock Acquired by Running Oak Capital LLC

Running Oak Capital LLC raised its stake in shares of Centene Corporation (NYSE:CNC) by 6.5% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 163,074 shares of the company’s stock after purchasing an additional 9,903 shares during the period. Running Oak Capital LLC’s holdings in Centene were worth $10,130,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Frank Rimerman Advisors LLC lifted its holdings in shares of Centene by 3.7% in the third quarter. Frank Rimerman Advisors LLC now owns 4,521 shares of the company’s stock valued at $281,000 after purchasing an additional 163 shares in the last quarter. Journey Retirement Planning & Investment Management LLC grew its holdings in Centene by 3.9% during the third quarter. Journey Retirement Planning & Investment Management LLC now owns 4,652 shares of the company’s stock worth $289,000 after buying an additional 175 shares in the last quarter. 180 Wealth Advisors LLC raised its position in Centene by 3.1% in the 1st quarter. 180 Wealth Advisors LLC now owns 6,683 shares of the company’s stock valued at $219,000 after buying an additional 199 shares during the last quarter. Grove Bank & Trust lifted its stake in Centene by 2.0% during the 3rd quarter. Grove Bank & Trust now owns 11,294 shares of the company’s stock valued at $702,000 after acquiring an additional 220 shares in the last quarter. Finally, GoalVest Advisory LLC boosted its holdings in Centene by 25.9% during the 3rd quarter. GoalVest Advisory LLC now owns 1,122 shares of the company’s stock worth $70,000 after acquiring an additional 231 shares during the last quarter. 93.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Robert W. Baird upped their target price on shares of Centene from $66.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 28th. Jefferies Financial Group reissued a “hold” rating and set a $69.00 price target on shares of Centene in a research report on Thursday, October 29th. HC Wainwright restated a “buy” rating on shares of Centene in a report on Friday, September 11th. Wells Fargo & Company upped their price objective on shares of Centene from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, October 30th. Finally, TD Cowen reissued a “hold” rating and set a $65.00 target price (up from $47.00) on shares of Centene in a research report on Tuesday, July 14th. Nine investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $73.80.

Insider Activity

In related news, General Counsel Christopher Koster sold 56,500 shares of the company’s stock in a transaction that occurred 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 sale, the general counsel directly owned 248,854 shares in the company, valued at approximately $16,648,332.60. This represents a 18.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.37% of the stock is currently owned by company insiders.

Centene Trading Down 1.6%

Shares of CNC opened at $68.64 on Tuesday. Centene Corporation has a fifty-two week low of $31.63 and a fifty-two week high of $78.08. The business has a 50-day moving average of $66.72 and a 200 day moving average of $55.99. The firm has a market cap of $33.98 billion, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 0.45 and a beta of 1.07. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.16 and a current ratio of 1.16.

Centene (NYSE:CNC) last released its quarterly earnings data on Tuesday, October 27th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.10 by $0.48. The business had revenue of $50.65 billion for the quarter, compared to the consensus estimate of $47.12 billion. Centene had a net margin of 0.72% and a return on equity of 12.15%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 earnings per share. As a group, research analysts forecast that Centene Corporation will post 5.27 EPS for the current year.

Centene Company Profile

Centene Corporation is a U.S. health care company that provides managed care and related services, primarily for people enrolled in government-sponsored health programs. Its offerings include Medicaid and Medicare plans, as well as health insurance sold through the Affordable Care Act marketplace.

Centene serves members through health plans and a network of health care providers. Its businesses include Ambetter, which offers marketplace health plans, and Wellcare, which provides Medicare-related coverage.