Swedbank AB Has $63.40 Million Stock Position in Centene Corporation $CNC

Swedbank AB increased its holdings in shares of Centene Corporation (NYSE:CNC) by 2.7% in the 4th quarter, HoldingsChannel reports. The firm owned 1,540,662 shares of the company’s stock after acquiring an additional 39,830 shares during the period. Swedbank AB’s holdings in Centene were worth $63,398,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Centene during the fourth quarter worth approximately $1,914,000. Coldstream Capital Management Inc. grew its stake in Centene by 13.5% during the fourth quarter. Coldstream Capital Management Inc. now owns 24,750 shares of the company’s stock worth $1,018,000 after purchasing an additional 2,951 shares during the period. EverSource Wealth Advisors LLC grew its stake in Centene by 133.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 35,227 shares of the company’s stock worth $1,450,000 after purchasing an additional 20,155 shares during the period. Evoke Wealth LLC grew its stake in Centene by 120.1% during the fourth quarter. Evoke Wealth LLC now owns 22,218 shares of the company’s stock worth $914,000 after purchasing an additional 12,124 shares during the period. Finally, Global Retirement Partners LLC grew its stake in Centene by 44.7% during the fourth quarter. Global Retirement Partners LLC now owns 3,770 shares of the company’s stock worth $155,000 after purchasing an additional 1,165 shares during the period. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Up 2.4%

Shares of NYSE:CNC opened at $59.15 on Friday. The business’s 50 day simple moving average is $43.06 and its two-hundred day simple moving average is $41.63. The firm has a market cap of $29.21 billion, a P/E ratio of -4.50, a PEG ratio of 1.14 and a beta of 1.06. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.12 and a current ratio of 1.12. Centene Corporation has a 52-week low of $25.08 and a 52-week high of $60.76.

Centene (NYSE:CNC) last posted its earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share for the quarter, beating 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 company had revenue of $49.94 billion for the quarter, compared to analyst estimates of $47.53 billion. During the same quarter last year, the company earned $2.90 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, research analysts forecast that Centene Corporation will post 3.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CNC has been the subject of several recent analyst reports. Wall Street Zen raised Centene from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. TD Cowen reiterated a “hold” rating and issued a $47.00 price target (up from $38.00) on shares of Centene in a report on Monday, May 4th. JPMorgan Chase & Co. increased their price target on Centene from $41.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. Morgan Stanley increased their price target on Centene from $45.00 to $50.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 29th. Finally, Mizuho set a $58.00 price target on Centene and gave the stock a “neutral” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Centene has a consensus rating of “Hold” and a consensus price target of $56.94.

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.