Pinnacle Wealth Management Advisory Group LLC Makes New Investment in Centene Corporation $CNC

Pinnacle Wealth Management Advisory Group LLC acquired a new position in shares of Centene Corporation (NYSE:CNC) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 15,222 shares of the company’s stock, valued at approximately $626,000.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Centene by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 56,978,753 shares of the company’s stock worth $2,344,676,000 after purchasing an additional 190,334 shares during the period. AQR Capital Management LLC boosted its position in 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 position in 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. Arrowstreet Capital Limited Partnership boosted its position in 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, Ameriprise Financial Inc. boosted its position in Centene by 34.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 7,290,041 shares of the company’s stock valued at $260,078,000 after acquiring an additional 1,881,041 shares in the last quarter. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Centene Stock Up 0.5%

Shares of CNC stock opened at $53.59 on Tuesday. Centene Corporation has a 1-year low of $25.08 and a 1-year high of $64.15. The stock’s fifty day moving average price is $38.91 and its 200 day moving average price is $39.49. 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 cap of $26.46 billion, a price-to-earnings ratio of -4.08, a price-to-earnings-growth ratio of 1.03 and a beta of 1.06.

Centene (NYSE:CNC) last announced its earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $49.94 billion for the quarter, compared to the consensus estimate of $47.53 billion. During the same period in the previous year, the business earned $2.90 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, research analysts expect that Centene Corporation will post 3.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CNC has been the topic of several recent research reports. Bank of America raised Centene from an “underperform” rating to a “buy” rating and increased their target price for the company from $34.00 to $60.00 in a research report on Wednesday, April 29th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Centene in a research report on Monday, April 20th. Robert W. Baird increased their target price on Centene from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Wednesday, April 15th. Jefferies Financial Group increased their target price on Centene from $39.00 to $48.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $59.00 target price on shares of Centene in a research report on Tuesday, January 6th. Six equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $52.65.

Centene 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.