Fi3 FINANCIAL ADVISORS LLC Buys Shares of 12,904 Centene Corporation $CNC

Fi3 FINANCIAL ADVISORS LLC bought a new stake in Centene Corporation (NYSE:CNC) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 12,904 shares of the company’s stock, valued at approximately $531,000.

A number of other large investors have also recently modified their holdings of CNC. AQR Capital Management LLC boosted its holdings in shares of Centene by 76.6% during the 3rd quarter. AQR Capital Management LLC now owns 14,654,834 shares of the company’s stock valued at $522,885,000 after acquiring an additional 6,356,152 shares in the last quarter. Deerfield Management Company L.P. boosted its holdings in shares of Centene by 184.0% during the 3rd quarter. Deerfield Management Company L.P. now owns 9,046,000 shares of the company’s stock valued at $322,761,000 after acquiring an additional 5,860,630 shares in the last quarter. 8 Knots Management LLC acquired a new stake in shares of Centene during the 3rd quarter valued at $186,662,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Centene by 32.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 8,716,056 shares of the company’s stock valued at $310,989,000 after acquiring an additional 2,111,674 shares in the last quarter. Finally, Long Focus Capital Management LLC boosted its holdings in shares of Centene by 705.4% during the 3rd quarter. Long Focus Capital Management LLC now owns 2,299,000 shares of the company’s stock valued at $82,028,000 after acquiring an additional 2,013,560 shares in the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Down 1.5%

Shares of NYSE:CNC opened at $58.28 on Thursday. The firm has a market cap of $28.78 billion, a P/E ratio of -4.44, a P/E/G ratio of 1.14 and a beta of 1.06. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.76. Centene Corporation has a 12-month low of $25.08 and a 12-month high of $61.63. The business has a fifty day simple moving average of $42.17 and a 200 day simple moving average of $41.35.

Centene (NYSE:CNC) last announced its 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 analyst estimates of $47.53 billion. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.Centene’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the company earned $2.90 EPS. Analysts predict that Centene Corporation will post 3.45 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CNC shares. UBS Group raised their price objective on Centene from $42.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. raised their price objective on Centene from $41.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. Cantor Fitzgerald raised Centene from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $41.00 to $60.00 in a report on Tuesday, April 28th. Barclays reaffirmed an “overweight” rating and set a $63.00 target price (up from $54.00) on shares of Centene in a research report on Wednesday, April 29th. Finally, Mizuho set a $58.00 target price on Centene and gave the stock a “neutral” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $55.88.

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.