Centene Corporation $CNC Stock Position Decreased by Allen Mooney & Barnes Investment Advisors LLC

Allen Mooney & Barnes Investment Advisors LLC decreased its position in Centene Corporation (NYSE:CNC) by 94.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,956 shares of the company’s stock after selling 212,213 shares during the quarter. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Centene were worth $427,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNC. Quarry LP acquired a new stake in Centene in the first quarter valued at approximately $26,000. Assetmark Inc. raised its holdings in shares of Centene by 248.2% during the 2nd quarter. Assetmark Inc. now owns 1,156 shares of the company’s stock valued at $63,000 after purchasing an additional 824 shares in the last quarter. GHP Investment Advisors Inc. lifted its stake 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 last quarter. Atlantic Union Bankshares Corp bought a new stake in Centene in the second quarter worth $76,000. Finally, Intact Investment Management Inc. acquired a new position in Centene during the second quarter worth $76,000. Institutional investors own 93.63% of the company’s stock.

Centene Stock Up 0.7%

CNC opened at $39.89 on Thursday. The business has a 50 day moving average of $37.27 and a 200-day moving average of $35.95. The stock has a market capitalization of $19.61 billion, a price-to-earnings ratio of -3.69, a P/E/G ratio of 1.32 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.

Centene (NYSE:CNC) last released its earnings results on Wednesday, October 29th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.71. The firm had revenue of $49.69 billion during 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 business’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.62 EPS. As a group, sell-side analysts anticipate that Centene Corporation will post 6.86 earnings per share for the current year.

Wall Street Analyst Weigh In

CNC has been the subject of a number of analyst reports. Cowen reaffirmed a “hold” rating on shares of Centene in a research report on Friday, October 31st. UBS Group set a $42.00 target price on Centene and gave the stock a “neutral” rating in a report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft increased their price target on Centene from $24.00 to $32.00 in a report on Friday, October 31st. Truist Financial restated a “buy” rating and issued a $45.00 price objective (up from $42.00) on shares of Centene in a research note on Thursday, October 30th. Finally, Zacks Research raised shares of Centene from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 29th. Three investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $38.44.

Centene 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.