Cerity Partners LLC Has $14.40 Million Position in Centene Corporation $CNC

Cerity Partners LLC boosted its holdings in shares of Centene Corporation (NYSE:CNC) by 321.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 403,479 shares of the company’s stock after purchasing an additional 307,839 shares during the period. Cerity Partners LLC owned about 0.08% of Centene worth $14,396,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Assetmark Inc. boosted its stake in Centene by 248.2% in the second quarter. Assetmark Inc. now owns 1,156 shares of the company’s stock worth $63,000 after purchasing an additional 824 shares in the last quarter. GHP Investment Advisors Inc. grew its position in shares of 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 purchasing an additional 856 shares during the period. Atlantic Union Bankshares Corp acquired a new position in Centene in the 2nd quarter worth $76,000. Intact Investment Management Inc. bought a new stake in Centene in the 2nd quarter valued at approximately $76,000. Finally, CYBER HORNET ETFs LLC acquired a new stake in Centene in the 2nd quarter valued at $76,000. 93.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on CNC shares. Barclays set a $44.00 price target on shares of Centene and gave the company an “equal weight” rating in a research note on Tuesday, November 4th. Truist Financial lifted their price objective on Centene from $45.00 to $47.00 and gave the company a “buy” rating in a report on Monday, January 5th. Weiss Ratings restated a “sell (d)” rating on shares of Centene in a research note on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price objective on Centene from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Finally, Cantor Fitzgerald raised their target price on Centene from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Three investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Centene presently has a consensus rating of “Hold” and an average target price of $40.38.

Centene Stock Down 0.7%

Centene stock opened at $46.58 on Friday. The firm has a market capitalization of $22.90 billion, a price-to-earnings ratio of -4.31, a price-to-earnings-growth ratio of 1.06 and a beta of 0.48. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.83. Centene Corporation has a 1-year low of $25.08 and a 1-year high of $66.81. The firm’s fifty day moving average price is $39.17 and its two-hundred day moving average price is $34.95.

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. Centene had a positive return on equity of 7.82% and a negative net margin of 2.85%.The firm had revenue of $49.69 billion during the quarter, compared to the consensus estimate of $47.50 billion. During the same period in the prior year, the business posted $1.62 earnings per share. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. On average, equities research analysts predict that Centene Corporation will post 6.86 earnings per share for the current fiscal year.

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.