Allspring Global Investments Holdings LLC Has $35.24 Million Stock Holdings in Centene Co. (NYSE:CNC)

Allspring Global Investments Holdings LLC raised its position in Centene Co. (NYSE:CNC) by 92.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 449,025 shares of the company’s stock after purchasing an additional 215,432 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.08% of Centene worth $35,239,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC acquired a new stake in Centene during the 4th quarter worth $25,000. Rise Advisors LLC bought a new position in shares of Centene during the 1st quarter valued at about $25,000. Riggs Asset Managment Co. Inc. acquired a new position in shares of Centene in the 4th quarter valued at approximately $32,000. Headinvest LLC acquired a new stake in Centene during the 3rd quarter worth approximately $35,000. Finally, Neo Ivy Capital Management bought a new position in Centene in the fourth quarter valued at approximately $40,000. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CNC has been the topic of a number of research analyst reports. Stephens restated an “equal weight” rating and set a $83.00 price objective on shares of Centene in a report on Thursday, May 30th. StockNews.com cut Centene from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 29th. Baird R W raised Centene to a “hold” rating in a research report on Thursday, May 30th. Robert W. Baird began coverage on Centene in a research report on Thursday, May 30th. They set a “neutral” rating and a $83.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Centene from $81.00 to $82.00 and gave the company a “hold” rating in a report on Tuesday, April 30th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $84.93.

Centene Price Performance

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

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

Insider Buying and Selling at Centene

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

Centene Company 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.