Centene Corporation $CNC Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC grew its holdings in Centene Corporation (NYSE:CNC) by 47.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,183,619 shares of the company’s stock after buying an additional 381,413 shares during the period. SG Americas Securities LLC’s holdings in Centene were worth $38,752,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CNC. Baird Financial Group Inc. acquired a new stake in Centene during the 1st quarter worth approximately $236,000. Sivia Capital Partners LLC increased its holdings in shares of Centene by 80.0% in the second 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 holdings in shares of Centene by 20.3% during the second quarter. CW Advisors LLC now owns 4,863 shares of the company’s stock worth $264,000 after purchasing an additional 820 shares during the period. NewEdge Advisors LLC grew its position in Centene by 6.1% in the 2nd quarter. NewEdge Advisors LLC now owns 44,945 shares of the company’s stock valued at $2,440,000 after buying an additional 2,582 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in Centene by 0.4% in the 2nd quarter. Treasurer of the State of North Carolina now owns 231,938 shares of the company’s stock valued at $12,590,000 after buying an additional 967 shares during the period. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene Stock Down 0.5%

Centene stock opened at $63.36 on Wednesday. Centene Corporation has a fifty-two week low of $25.08 and a fifty-two week high of $66.55. The firm has a market capitalization of $31.29 billion, a price-to-earnings ratio of -4.82, a price-to-earnings-growth ratio of 0.50 and a beta of 1.09. The stock’s fifty day moving average is $55.04 and its two-hundred day moving average is $45.50. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.12 and a current ratio of 1.12.

Centene (NYSE:CNC) last released its quarterly earnings results 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 business had revenue of $49.94 billion during 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 was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.90 EPS. Analysts predict that Centene Corporation will post 3.45 EPS for the current fiscal year.

More Centene News

Here are the key news stories impacting Centene this week:

• Positive Sentiment: RBC started coverage on Centene with a “sector perform” rating and a $70 price target, implying upside from current levels and reinforcing investor confidence in the stock. RBC coverage on Centene
• Positive Sentiment: Zacks highlighted Centene as a Strong Buy growth stock and also called it a strong value and strong momentum name, suggesting improving market sentiment around the shares. Zacks growth stocks list
• Positive Sentiment: Centene announced the appointment of Lauren M. Tyler to its Board of Directors, a governance move that can be viewed as a sign of continued board refreshment and strategic oversight. Centene appoints Lauren M. Tyler to board
• Neutral Sentiment: Health Net said it is providing special assistance to members and providers affected by the Palos warehouse fire in Los Angeles; this is operationally supportive but not likely to materially change Centene’s fundamentals on its own. Health Net wildfire assistance
• Neutral Sentiment: Commentary pieces on Centene’s governance, efficiency, and style scores mainly reinforce the investment case rather than introduce a new catalyst. Centene governance and efficiency article

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CNC shares. The Goldman Sachs Group restated a “sell” rating and issued a $40.00 target price on shares of Centene in a research note on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft raised shares of Centene from a “hold” rating to a “buy” rating and increased their price target for the stock from $53.00 to $80.00 in a report on Wednesday, May 20th. Royal Bank Of Canada assumed coverage on shares of Centene in a research report on Tuesday. They issued a “sector perform” rating and a $70.00 price objective for the company. Truist Financial boosted their target price on Centene from $58.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Finally, Mizuho set a $63.00 target price on Centene and gave the stock a “neutral” rating in a research note on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $60.78.

Centene Company 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.