Prime Capital Investment Advisors LLC Buys New Position in Centene Co. (NYSE:CNC)

Prime Capital Investment Advisors LLC purchased a new position in Centene Co. (NYSE:CNC) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 2,708 shares of the company’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Coppell Advisory Solutions Corp. bought a new position in Centene in the fourth quarter worth approximately $25,000. Operose Advisors LLC bought a new position in Centene in the third quarter worth approximately $25,000. ST Germain D J Co. Inc. bought a new position in Centene in the second quarter worth approximately $26,000. OFI Invest Asset Management bought a new position in Centene in the third quarter worth approximately $26,000. Finally, Headinvest LLC bought a new position in Centene in the third quarter worth approximately $35,000. Institutional investors own 93.63% of the company’s stock.

Insiders Place Their Bets

In other Centene news, Director Lori Jean Robinson sold 10,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $77.41, for a total value of $774,100.00. Following the completion of the sale, the director now directly owns 11,455 shares of the company’s stock, valued at $886,731.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Lori Jean Robinson sold 10,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $77.41, for a total value of $774,100.00. Following the completion of the transaction, the director now directly owns 11,455 shares of the company’s stock, valued at $886,731.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Kenneth J. Fasola sold 12,000 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $75.07, for a total value of $900,840.00. Following the completion of the transaction, the president now directly owns 235,365 shares of the company’s stock, valued at $17,668,850.55. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Centene Stock Performance

Shares of CNC opened at $70.73 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.68. The stock has a 50 day moving average of $76.80 and a 200 day moving average of $74.50. Centene Co. has a 12 month low of $60.83 and a 12 month high of $81.42. The company has a market capitalization of $37.83 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 0.88 and a beta of 0.38.

Centene (NYSE:CNC) last released its earnings results on Tuesday, February 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. Centene had a return on equity of 14.26% and a net margin of 1.75%. The business had revenue of $39.46 billion during the quarter, compared to the consensus estimate of $36.16 billion. During the same period last year, the business posted $0.86 earnings per share. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, sell-side analysts forecast that Centene Co. will post 6.75 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Stephens reissued an “equal weight” rating and issued a $85.00 price objective (down from $92.00) on shares of Centene in a research note on Thursday, March 21st. Truist Financial increased their price objective on Centene from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, December 21st. StockNews.com downgraded Centene from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 28th. Barclays assumed coverage on Centene in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $101.00 price objective for the company. Finally, UBS Group increased their price objective on Centene from $72.00 to $79.00 and gave the stock a “neutral” rating in a research note on Thursday, December 21st. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Centene presently has a consensus rating of “Moderate Buy” and an average price target of $85.08.

About Centene

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children's health insurance program, foster care, medicare-medicaid plans, long-term services and support.