Poehling Capital Management INC. Acquires 75,673 Shares of Centene Corporation $CNC

Poehling Capital Management INC. raised its holdings in Centene Corporation (NYSE:CNC) by 372.9% during the third quarter, Holdings Channel.com reports. The fund owned 95,967 shares of the company’s stock after purchasing an additional 75,673 shares during the period. Poehling Capital Management INC.’s holdings in Centene were worth $3,424,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Mowery & Schoenfeld Wealth Management LLC bought a new position in Centene during the 3rd quarter worth approximately $27,000. WPG Advisers LLC grew its holdings in shares of Centene by 44.5% in the 3rd quarter. WPG Advisers LLC now owns 915 shares of the company’s stock valued at $33,000 after buying an additional 282 shares during the period. Bogart Wealth LLC increased its position in shares of Centene by 11,011.1% in the 3rd quarter. Bogart Wealth LLC now owns 1,000 shares of the company’s stock valued at $36,000 after buying an additional 991 shares in the last quarter. Financial Network Wealth Advisors LLC lifted its holdings in Centene by 54.9% during the third quarter. Financial Network Wealth Advisors LLC now owns 1,100 shares of the company’s stock worth $39,000 after acquiring an additional 390 shares in the last quarter. Finally, Quent Capital LLC acquired a new position in Centene in the third quarter valued at about $45,000. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CNC has been the topic of several recent analyst reports. Jefferies Financial Group lifted their price objective on Centene from $25.00 to $32.00 in a report on Monday, November 3rd. Truist Financial raised their target price on shares of Centene from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, January 5th. Zacks Research upgraded shares of Centene from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 29th. Sanford C. Bernstein restated an “outperform” rating and set a $59.00 price objective on shares of Centene in a report on Tuesday, January 6th. Finally, Morgan Stanley upped their target price on shares of Centene from $28.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 14th. Three investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $40.81.

Centene Stock Down 2.6%

Centene stock opened at $39.88 on Friday. 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 Corporation has a 1-year low of $25.08 and a 1-year high of $66.03. The company has a fifty day simple moving average of $42.04 and a 200 day simple moving average of $35.81. The company has a market cap of $19.60 billion, a P/E ratio of -3.69, a price-to-earnings-growth ratio of 0.95 and a beta of 0.48.

Centene (NYSE:CNC) last posted its quarterly earnings data on Thursday, February 5th. The company reported ($1.19) EPS for the quarter, topping analysts’ consensus estimates of ($1.25) by $0.06. The company had revenue of $49.73 billion during the quarter, compared to the consensus estimate of $48.41 billion. Centene had a negative net margin of 2.85% and a positive return on equity of 7.82%. Research analysts anticipate that Centene Corporation will post 6.86 earnings per share for the current fiscal year.

About Centene

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.