Chicago Partners Investment Group LLC Purchases 9,282 Shares of Centene Corporation $CNC

Chicago Partners Investment Group LLC raised its position in shares of Centene Corporation (NYSE:CNC) by 20.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 55,080 shares of the company’s stock after purchasing an additional 9,282 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Centene were worth $1,803,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CNC. AQR Capital Management LLC boosted its holdings in shares of Centene by 117.0% in the fourth quarter. AQR Capital Management LLC now owns 31,798,738 shares of the company’s stock worth $1,308,518,000 after buying an additional 17,143,904 shares during the last quarter. Norges Bank purchased a new stake in Centene during the fourth quarter valued at approximately $332,044,000. Deerfield Management Company L.P. raised its position in Centene by 184.0% in the third quarter. Deerfield Management Company L.P. now owns 9,046,000 shares of the company’s stock worth $322,761,000 after acquiring an additional 5,860,630 shares during the period. Price T Rowe Associates Inc. MD raised its position in Centene by 52.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,171,568 shares of the company’s stock worth $295,111,000 after acquiring an additional 2,472,341 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Centene by 535.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,750,326 shares of the company’s stock worth $113,176,000 after acquiring an additional 2,317,618 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.

Centene Stock Up 0.5%

CNC opened at $68.62 on Wednesday. The stock has a market cap of $33.89 billion, a price-to-earnings ratio of -5.22, a price-to-earnings-growth ratio of 0.53 and a beta of 1.07. 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 firm’s fifty day moving average is $62.14 and its 200 day moving average is $48.37. Centene Corporation has a fifty-two week low of $25.08 and a fifty-two week high of $69.36.

Centene (NYSE:CNC) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $1.14. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.The business had revenue of $49.94 billion during the quarter, compared to analyst estimates of $47.53 billion. During the same quarter in the prior year, the business posted $2.90 EPS. Centene’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, sell-side analysts forecast that Centene Corporation will post 3.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CNC has been the subject of several analyst reports. The Goldman Sachs Group restated a “sell” rating and issued a $40.00 price objective on shares of Centene in a research note on Wednesday, April 29th. Barclays reissued an “overweight” rating on shares of Centene in a report on Tuesday, June 16th. Oppenheimer upped their price target on Centene from $58.00 to $67.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Raymond James Financial set a $75.00 price objective on Centene in a research note on Tuesday, July 7th. Finally, Truist Financial boosted their price objective on Centene from $71.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday. Seven investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $64.61.

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.