Rothschild Wealth LLC Takes Position in Centene Corporation $CNC

Rothschild Wealth LLC acquired a new stake in Centene Corporation (NYSE:CNC) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 19,288 shares of the company’s stock, valued at approximately $794,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Centene by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 56,978,753 shares of the company’s stock valued at $2,344,676,000 after acquiring an additional 190,334 shares in the last quarter. AQR Capital Management LLC lifted its position in Centene by 76.6% in 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. Geode Capital Management LLC lifted its position in Centene by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 13,271,492 shares of the company’s stock valued at $554,338,000 after acquiring an additional 697,277 shares in the last quarter. Deerfield Management Company L.P. lifted its position in Centene by 184.0% in 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. Finally, Arrowstreet Capital Limited Partnership lifted its position in Centene by 32.0% in 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. 93.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on CNC. Raymond James Financial set a $60.00 price objective on shares of Centene in a research report on Wednesday, April 29th. UBS Group reissued a “neutral” rating and set a $61.00 price target (up from $55.00) on shares of Centene in a research report on Friday, May 22nd. Zacks Research raised shares of Centene from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft raised shares of Centene from a “hold” rating to a “buy” rating and boosted their price target for the stock from $53.00 to $80.00 in a research report on Wednesday, May 20th. Finally, Barclays boosted their price target on shares of Centene from $63.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Centene currently has a consensus rating of “Hold” and a consensus target price of $58.94.

Centene Stock Up 4.0%

Shares of CNC stock opened at $61.97 on Tuesday. 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 50-day moving average is $45.97 and its 200-day moving average is $42.66. The stock has a market cap of $30.60 billion, a price-to-earnings ratio of -4.72, a PEG ratio of 0.47 and a beta of 1.09. Centene Corporation has a 52-week low of $25.08 and a 52-week high of $62.10.

Centene (NYSE:CNC) last issued its earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share (EPS) for the quarter, beating 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 quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.90 EPS. Sell-side analysts predict that Centene Corporation will post 3.45 EPS for the current year.

About Centene

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.