Centene Corporation $CNC Stake Raised by Allstate Corp

Allstate Corp boosted its holdings in Centene Corporation (NYSE:CNC) by 106.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,823 shares of the company’s stock after acquiring an additional 18,473 shares during the quarter. Allstate Corp’s holdings in Centene were worth $1,474,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Summitry LLC increased its stake in Centene by 19.4% in the 4th quarter. Summitry LLC now owns 23,672 shares of the company’s stock worth $974,000 after purchasing an additional 3,848 shares in the last quarter. Clearstead Advisors LLC lifted its holdings in shares of Centene by 108.5% during the 4th quarter. Clearstead Advisors LLC now owns 27,907 shares of the company’s stock valued at $1,148,000 after buying an additional 14,520 shares during the last quarter. New Age Alpha Advisors LLC lifted its holdings in shares of Centene by 35.2% during the 4th quarter. New Age Alpha Advisors LLC now owns 72,137 shares of the company’s stock valued at $2,968,000 after buying an additional 18,799 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Centene by 22.1% during the 4th quarter. Hantz Financial Services Inc. now owns 7,986 shares of the company’s stock valued at $329,000 after buying an additional 1,444 shares during the last quarter. Finally, Systematic Financial Management LP lifted its holdings in shares of Centene by 80.8% during the 4th quarter. Systematic Financial Management LP now owns 17,912 shares of the company’s stock valued at $737,000 after buying an additional 8,005 shares during the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene Trading Up 1.4%

NYSE CNC opened at $59.72 on Friday. The firm has a market cap of $29.49 billion, a P/E ratio of -4.54, a P/E/G ratio of 0.46 and a beta of 1.06. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.12 and a quick ratio of 1.12. The stock’s 50-day moving average is $45.44 and its 200-day moving average is $42.41. Centene Corporation has a one year low of $25.08 and a one year high of $60.76.

Centene (NYSE:CNC) last released its quarterly earnings results on Tuesday, April 28th. The company reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $1.14. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.The company had revenue of $49.94 billion for the quarter, compared to analyst estimates of $47.53 billion. During the same quarter last year, the firm posted $2.90 earnings per share. Centene’s revenue was up 7.1% compared to the same quarter last year. Sell-side analysts anticipate that Centene Corporation will post 3.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Morgan Stanley lifted their price target on Centene from $45.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday, April 29th. Wall Street Zen upgraded Centene from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Jefferies Financial Group lifted their price target on Centene from $39.00 to $48.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. UBS Group restated a “neutral” rating and set a $61.00 price objective (up from $55.00) on shares of Centene in a research report on Friday, May 22nd. Finally, Oppenheimer boosted their price objective on Centene from $58.00 to $67.00 and gave the stock an “outperform” rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $58.18.

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.