Acadian Asset Management LLC Grows Holdings in Centene Corporation $CNC

Acadian Asset Management LLC lifted its holdings in Centene Corporation (NYSE:CNC) by 285.5% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 752,276 shares of the company’s stock after buying an additional 557,139 shares during the period. Acadian Asset Management LLC owned approximately 0.15% of Centene worth $40,826,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quarry LP bought a new stake in Centene in the 1st quarter valued at about $26,000. Assetmark Inc. boosted its holdings in Centene by 248.2% in the 2nd quarter. Assetmark Inc. now owns 1,156 shares of the company’s stock worth $63,000 after buying an additional 824 shares during the period. GHP Investment Advisors Inc. grew its stake in Centene by 265.8% in the 2nd quarter. GHP Investment Advisors Inc. now owns 1,178 shares of the company’s stock valued at $64,000 after buying an additional 856 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of Centene during the second quarter worth $76,000. Finally, Trust Co. of Toledo NA OH bought a new position in shares of Centene in the second quarter worth $77,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Wall Street Analysts Forecast Growth

CNC has been the topic of a number of analyst reports. Wells Fargo & Company set a $41.00 target price on shares of Centene and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Barclays set a $44.00 price target on shares of Centene and gave the company an “equal weight” rating in a research report on Tuesday, November 4th. UBS Group set a $42.00 price objective on Centene and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Jefferies Financial Group boosted their target price on Centene from $25.00 to $32.00 in a research report on Monday, November 3rd. Finally, Bank of America lowered Centene from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $52.00 to $30.00 in a research note on Wednesday, July 16th. Three research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.82.

Centene Trading Up 1.1%

NYSE CNC opened at $37.49 on Monday. The stock’s fifty day moving average price is $34.33 and its 200-day moving average price is $40.60. Centene Corporation has a 12 month low of $25.08 and a 12 month high of $66.81. The company has a current ratio of 1.08, a quick ratio of 1.10 and a debt-to-equity ratio of 0.83. The stock has a market cap of $18.43 billion, a P/E ratio of -3.46, a P/E/G ratio of 1.24 and a beta of 0.49.

Centene (NYSE:CNC) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.71. The company had revenue of $49.69 billion for the quarter, compared to the consensus estimate of $47.50 billion. Centene had a negative net margin of 2.85% and a positive return on equity of 7.82%. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.62 earnings per share. As a group, equities analysts forecast that Centene Corporation will post 6.86 EPS for the current fiscal year.

Centene Profile

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.