Board of the Pension Protection Fund Invests $1 Million in Centene Corporation $CNC

Board of the Pension Protection Fund purchased a new stake in Centene Corporation (NYSE:CNC) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 28,100 shares of the company’s stock, valued at approximately $1,003,000.

Several other institutional investors also recently bought and sold shares of CNC. Quarry LP acquired a new position in shares of Centene during the 1st quarter worth approximately $26,000. Assetmark Inc. raised its position in Centene by 248.2% during the second quarter. Assetmark Inc. now owns 1,156 shares of the company’s stock worth $63,000 after acquiring an additional 824 shares during the period. GHP Investment Advisors Inc. lifted its holdings in Centene by 265.8% during the second quarter. GHP Investment Advisors Inc. now owns 1,178 shares of the company’s stock valued at $64,000 after purchasing an additional 856 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in shares of Centene in the second quarter valued at about $76,000. Finally, Intact Investment Management Inc. acquired a new position in shares of Centene during the 2nd quarter worth about $76,000. 93.63% of the stock is owned by institutional investors and hedge funds.

Centene Stock Down 0.5%

Shares of NYSE CNC opened at $39.02 on Friday. Centene Corporation has a 1 year low of $25.08 and a 1 year high of $66.81. The company has a market capitalization of $19.18 billion, a P/E ratio of -3.61, a P/E/G ratio of 1.30 and a beta of 0.48. The company has a 50 day simple moving average of $37.05 and a 200-day simple moving average of $36.40. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.08 and a quick ratio of 1.08.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on CNC shares. Zacks Research upgraded Centene from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 29th. Oppenheimer reissued an “outperform” rating and issued a $45.00 price objective on shares of Centene in a research note on Thursday, October 30th. Mizuho upped their target price on shares of Centene from $28.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. The Goldman Sachs Group reiterated a “sell” rating and issued a $38.00 target price (up from $33.00) on shares of Centene in a research report on Thursday, October 30th. Finally, Robert W. Baird boosted their price target on shares of Centene from $28.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $38.44.

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.