Flatrock Wealth Partners LLC Makes New Investment in Centene Corporation $CNC

Flatrock Wealth Partners LLC acquired a new position in Centene Corporation (NYSE:CNC) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 7,911 shares of the company’s stock, valued at approximately $259,000.

Other large investors have also recently made changes to their positions in the company. Kestra Advisory Services LLC increased its position in shares of Centene by 0.5% during the fourth quarter. Kestra Advisory Services LLC now owns 52,602 shares of the company’s stock valued at $2,165,000 after buying an additional 264 shares during the period. Arkadios Wealth Advisors grew its stake in Centene by 4.2% during the fourth quarter. Arkadios Wealth Advisors now owns 7,465 shares of the company’s stock valued at $307,000 after acquiring an additional 300 shares in the last quarter. Affinity Investment Advisors LLC increased its holdings in Centene by 3.0% during the 4th quarter. Affinity Investment Advisors LLC now owns 10,927 shares of the company’s stock worth $450,000 after acquiring an additional 316 shares during the period. Prime Capital Investment Advisors LLC lifted its stake in Centene by 5.7% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 5,975 shares of the company’s stock worth $246,000 after purchasing an additional 324 shares in the last quarter. Finally, AdvisorNet Financial Inc boosted its holdings in Centene by 5.5% in the 1st quarter. AdvisorNet Financial Inc now owns 6,308 shares of the company’s stock valued at $207,000 after purchasing an additional 330 shares during the period. 93.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on CNC. Bank of America boosted their price objective on Centene from $72.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Jefferies Financial Group boosted their price target on shares of Centene from $39.00 to $48.00 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. Truist Financial increased their price target on shares of Centene from $58.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, June 1st. JPMorgan Chase & Co. lifted their price objective on shares of Centene from $52.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, June 8th. Finally, Deutsche Bank Aktiengesellschaft raised Centene from a “hold” rating to a “buy” rating and increased their target price for the company from $53.00 to $80.00 in a research note on Wednesday, May 20th. Seven investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $62.44.

Centene Stock Performance

Centene stock opened at $66.14 on Wednesday. The firm has a fifty day simple moving average of $60.44 and a two-hundred day simple moving average of $47.37. 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 Corporation has a twelve month low of $25.08 and a twelve month high of $69.29. The company has a market capitalization of $32.66 billion, a PE ratio of -5.03, a P/E/G ratio of 0.52 and a beta of 1.07.

Centene (NYSE:CNC) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $1.14. The business had revenue of $49.94 billion for the quarter, compared to analyst estimates of $47.53 billion. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.Centene’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the company earned $2.90 EPS. Research analysts expect that Centene Corporation will post 3.44 EPS for the current year.

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.