Chicago Partners Investment Group LLC Grows Holdings in Centene Corporation $CNC

Chicago Partners Investment Group LLC increased its holdings in Centene Corporation (NYSE:CNC) by 20.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,080 shares of the company’s stock after acquiring an additional 9,282 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Centene were worth $1,803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the business. DV Equities LLC bought a new position in shares of Centene during the fourth quarter valued at approximately $26,000. IFC & Insurance Marketing Inc. bought a new stake in shares of Centene in the 4th quarter worth approximately $28,000. SBI Securities Co. Ltd. grew its stake 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 buying an additional 406 shares during the last quarter. Bayban purchased a new stake in shares of Centene in the 4th quarter worth approximately $33,000. Finally, MV Capital Management Inc. bought a new position in Centene during the 4th quarter valued at approximately $34,000. Institutional investors own 93.63% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on CNC shares. Robert W. Baird boosted their target price on Centene from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, April 15th. Sanford C. Bernstein lifted their price target on Centene from $48.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft raised shares of Centene from a “hold” rating to a “buy” rating and lifted their target price for the stock from $53.00 to $80.00 in a report on Wednesday, May 20th. Cantor Fitzgerald upped their target price on shares of Centene from $60.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Finally, Jefferies Financial Group raised their price target on shares of Centene from $39.00 to $48.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. Seven analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Centene currently has an average rating of “Hold” and an average target price of $64.61.

Centene Price Performance

NYSE CNC opened at $68.62 on Wednesday. Centene Corporation has a one year low of $25.08 and a one year high of $69.36. The stock has a 50-day moving average of $62.14 and a 200 day moving average of $48.37. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $33.89 billion, a price-to-earnings ratio of -5.22, a PEG ratio of 0.53 and a beta of 1.07.

Centene (NYSE:CNC) last announced 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. Centene had a negative net margin of 3.25% and a positive return on equity of 5.57%. The firm had revenue of $49.94 billion for the quarter, compared to the consensus estimate of $47.53 billion. During the same quarter last year, the firm posted $2.90 EPS. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, sell-side analysts forecast 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.