Renaissance Technologies LLC Boosts Holdings in Centene Corporation $CNC

Renaissance Technologies LLC grew its stake in shares of Centene Corporation (NYSE:CNC) by 60.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,684,669 shares of the company’s stock after purchasing an additional 632,557 shares during the period. Renaissance Technologies LLC owned approximately 0.34% of Centene worth $55,156,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. 180 Wealth Advisors LLC boosted its position in Centene by 3.1% during the 1st quarter. 180 Wealth Advisors LLC now owns 6,683 shares of the company’s stock valued at $219,000 after acquiring an additional 199 shares in the last quarter. Kestra Advisory Services LLC raised its position in shares of Centene by 0.5% in the 4th quarter. Kestra Advisory Services LLC now owns 52,602 shares of the company’s stock worth $2,165,000 after acquiring an additional 264 shares in the last quarter. Arkadios Wealth Advisors lifted its stake in shares of Centene by 4.2% in the 4th quarter. Arkadios Wealth Advisors now owns 7,465 shares of the company’s stock valued at $307,000 after purchasing an additional 300 shares during the period. Affinity Investment Advisors LLC boosted its position in shares of Centene by 3.0% during the fourth quarter. Affinity Investment Advisors LLC now owns 10,927 shares of the company’s stock valued at $450,000 after purchasing an additional 316 shares in the last quarter. Finally, SouthState Bank Corp grew its stake in Centene by 1.3% in the first quarter. SouthState Bank Corp now owns 24,013 shares of the company’s stock worth $786,000 after purchasing an additional 317 shares during the period. 93.63% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Sanford C. Bernstein raised their price objective on Centene from $48.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Zacks Research lowered shares of Centene from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. JPMorgan Chase & Co. lifted their price target on shares of Centene from $52.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, June 8th. Oppenheimer boosted their price objective on shares of Centene from $58.00 to $67.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Finally, Bank of America upped their price objective on shares of Centene from $72.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Seven analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Centene currently has an average rating of “Hold” and a consensus price target of $64.61.

Centene Price Performance

Shares of NYSE:CNC opened at $63.35 on Monday. The business has a fifty day moving average price of $63.46 and a 200-day moving average price of $49.72. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $31.28 billion, a PE ratio of -4.82, a PEG ratio of 0.50 and a beta of 1.07. Centene Corporation has a 1-year low of $25.08 and a 1-year high of $69.36.

Centene (NYSE:CNC) last announced 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. The company had revenue of $49.94 billion for the quarter, compared to analysts’ expectations of $47.53 billion. Centene had a negative net margin of 3.25% and a positive return on equity of 5.57%. Centene’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.90 EPS. As a group, equities analysts expect that Centene Corporation will post 3.44 EPS for the current fiscal year.

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.