Centene Corporation $CNC Stock Holdings Lifted by Cerity Partners LLC

Cerity Partners LLC raised its position in Centene Corporation (NYSE:CNC) by 136.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 955,876 shares of the company’s stock after purchasing an additional 552,397 shares during the quarter. Cerity Partners LLC’s holdings in Centene were worth $39,334,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Oracle Investment Management Inc. acquired a new position in Centene in the 3rd quarter valued at approximately $3,936,000. Capitolis Liquid Global Markets LLC raised its holdings in Centene by 451.2% in the 3rd quarter. Capitolis Liquid Global Markets LLC now owns 181,900 shares of the company’s stock valued at $6,490,000 after acquiring an additional 148,900 shares in the last quarter. Alberta Investment Management Corp raised its holdings in Centene by 22.1% in the 3rd quarter. Alberta Investment Management Corp now owns 1,075,000 shares of the company’s stock valued at $38,356,000 after acquiring an additional 194,300 shares in the last quarter. Counterpoint Mutual Funds LLC raised its holdings in Centene by 161.1% in the 3rd quarter. Counterpoint Mutual Funds LLC now owns 91,943 shares of the company’s stock valued at $3,281,000 after acquiring an additional 56,730 shares in the last quarter. Finally, Kennondale Capital Management LLC grew its stake in shares of Centene by 500.0% in the 3rd quarter. Kennondale Capital Management LLC now owns 48,978 shares of the company’s stock valued at $1,748,000 after purchasing an additional 40,815 shares during the period. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene Stock Down 1.2%

NYSE:CNC opened at $65.44 on Thursday. The stock’s fifty day moving average price is $50.19 and its two-hundred day moving average price is $43.98. Centene Corporation has a 52-week low of $25.08 and a 52-week high of $66.55. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $32.31 billion, a price-to-earnings ratio of -4.98, a P/E/G ratio of 0.52 and a beta of 1.09.

Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $1.14. The firm had revenue of $49.94 billion for the quarter, compared to the consensus estimate of $47.53 billion. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.90 EPS. On average, analysts anticipate that Centene Corporation will post 3.45 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CNC shares. Truist Financial upped their price objective on Centene from $58.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Raymond James Financial set a $60.00 price objective on Centene in a research note on Wednesday, April 29th. Jefferies Financial Group upped their price objective on Centene from $39.00 to $48.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. TD Cowen reiterated a “hold” rating and issued a $47.00 price objective (up from $38.00) on shares of Centene in a research note on Monday, May 4th. Finally, Sanford C. Bernstein increased their price target on Centene from $48.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $60.24.

Centene 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.