Fideuram Intesa Sanpaolo Private Banking S.P.A. Buys Shares of 46,507 Centene Corporation $CNC

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Centene Corporation (NYSE:CNC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 46,507 shares of the company’s stock, valued at approximately $1,914,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CNC. Prime Capital Investment Advisors LLC raised its position in shares of Centene by 5.7% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 5,975 shares of the company’s stock valued at $246,000 after buying an additional 324 shares during the last quarter. Burney Co. raised its position in shares of Centene by 3.8% in the fourth quarter. Burney Co. now owns 9,053 shares of the company’s stock valued at $373,000 after buying an additional 331 shares during the last quarter. Sapient Capital LLC raised its position in shares of Centene by 4.0% in the fourth quarter. Sapient Capital LLC now owns 9,442 shares of the company’s stock valued at $389,000 after buying an additional 359 shares during the last quarter. Snowden Capital Advisors LLC raised its position in shares of Centene by 8.0% in the second quarter. Snowden Capital Advisors LLC now owns 5,073 shares of the company’s stock valued at $275,000 after buying an additional 374 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Centene by 15.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,785 shares of the company’s stock valued at $115,000 after buying an additional 379 shares during the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene Price Performance

Centene stock opened at $57.72 on Friday. Centene Corporation has a 12-month low of $25.08 and a 12-month high of $60.76. The stock has a market cap of $28.50 billion, a P/E ratio of -4.39, a PEG ratio of 1.13 and a beta of 1.06. The company has a 50-day moving average price of $42.60 and a 200 day moving average price of $41.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.76.

Centene (NYSE:CNC) last released 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. Centene had a negative net margin of 3.25% and a positive return on equity of 5.57%. The firm had revenue of $49.94 billion during the quarter, compared to analysts’ expectations of $47.53 billion. During the same period last year, the business earned $2.90 earnings per share. Centene’s revenue was up 7.1% compared to the same quarter last year. Sell-side analysts anticipate that Centene Corporation will post 3.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CNC has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Centene from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. TD Cowen reiterated a “hold” rating and issued a $47.00 target price (up from $38.00) on shares of Centene in a research report on Monday, May 4th. Mizuho set a $58.00 target price on shares of Centene and gave the company a “neutral” rating in a research report on Wednesday. Zacks Research upgraded shares of Centene from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. Finally, Truist Financial increased their target price on shares of Centene from $49.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $56.59.

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.