Chicago Partners Investment Group LLC Invests $710,000 in Centene Corporation $CNC

Chicago Partners Investment Group LLC bought a new stake in shares of Centene Corporation (NYSE:CNC) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 21,387 shares of the company’s stock, valued at approximately $710,000.

A number of other large investors have also modified their holdings of the business. Allegiance Financial Group Advisory Services LLC increased its stake in Centene by 38.6% during the 3rd quarter. Allegiance Financial Group Advisory Services LLC now owns 7,961 shares of the company’s stock valued at $284,000 after purchasing an additional 2,219 shares in the last quarter. Sage Mountain Advisors LLC purchased a new position in Centene in the 3rd quarter worth $255,000. Jackson Thornton Wealth Management LLC purchased a new stake in Centene during the 3rd quarter valued at about $557,000. QTR Family Wealth LLC purchased a new position in shares of Centene in the third quarter worth about $221,000. Finally, Arkadios Wealth Advisors acquired a new stake in shares of Centene during the third quarter worth about $256,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on CNC. TD Cowen reissued a “hold” rating on shares of Centene in a research report on Friday, October 31st. Mizuho set a $47.00 price target on shares of Centene in a report on Friday, January 9th. Weiss Ratings reiterated a “sell (d)” rating on shares of Centene in a research note on Wednesday. Robert W. Baird raised their target price on Centene from $28.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Centene from $24.00 to $32.00 in a report on Friday, October 31st. Three equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Centene presently has a consensus rating of “Hold” and a consensus price target of $40.81.

Centene Trading Up 1.4%

Shares of Centene stock opened at $46.07 on Friday. Centene Corporation has a 1-year low of $25.08 and a 1-year high of $66.81. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market cap of $22.65 billion, a P/E ratio of -4.26, a P/E/G ratio of 1.05 and a beta of 0.48. The stock’s 50 day simple moving average is $41.15 and its 200-day simple moving average is $35.10.

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

About Centene

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.