Clear Street Group Inc. Takes $543,000 Position in Centene Corporation $CNC

Clear Street Group Inc. purchased a new position in Centene Corporation (NYSE:CNC) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 13,195 shares of the company’s stock, valued at approximately $543,000.

Other large investors have also recently modified their holdings of the company. Addison Advisors LLC raised its position in shares of Centene by 455.6% in the 3rd quarter. Addison Advisors LLC now owns 739 shares of the company’s stock worth $26,000 after purchasing an additional 606 shares during the last quarter. IFC & Insurance Marketing Inc. purchased a new position in shares of Centene in the 4th quarter worth about $28,000. SBI Securities Co. Ltd. raised its position in shares of Centene by 118.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock worth $31,000 after purchasing an additional 406 shares during the last quarter. Ameriflex Group Inc. raised its position in shares of Centene by 152.5% in the 3rd quarter. Ameriflex Group Inc. now owns 1,010 shares of the company’s stock worth $36,000 after purchasing an additional 610 shares during the last quarter. Finally, GoalVest Advisory LLC purchased a new position in shares of Centene in the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on CNC. The Goldman Sachs Group reiterated a “sell” rating and issued a $40.00 price objective on shares of Centene in a report on Wednesday, April 29th. Weiss Ratings reiterated a “sell (d)” rating on shares of Centene in a report on Monday, April 20th. Wall Street Zen upgraded Centene from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. JPMorgan Chase & Co. lifted their price objective on Centene from $52.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, June 8th. Finally, Wells Fargo & Company lifted their price objective on Centene from $44.00 to $56.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $60.24.

Centene Trading Down 2.8%

Centene stock opened at $63.34 on Tuesday. The business has a 50-day simple moving average of $52.00 and a two-hundred day simple moving average of $44.53. The company has a market cap of $31.28 billion, a P/E ratio of -4.82, a P/E/G ratio of 0.51 and a beta of 1.09. Centene Corporation has a 52-week low of $25.08 and a 52-week high of $66.55. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.76.

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