Citizens Financial Group Inc. RI Has $643,000 Holdings in Centene Corporation $CNC

Citizens Financial Group Inc. RI lifted its position in Centene Corporation (NYSE:CNC) by 59.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,643 shares of the company’s stock after buying an additional 7,297 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Centene were worth $643,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. DV Equities LLC acquired a new stake in Centene during the 4th quarter valued at $26,000. IFC & Insurance Marketing Inc. bought a new stake in Centene in the 4th quarter valued at about $28,000. SBI Securities Co. Ltd. increased its stake in Centene by 118.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock worth $31,000 after acquiring an additional 406 shares during the period. Bayban acquired a new stake in Centene during the fourth quarter worth about $33,000. Finally, MV Capital Management Inc. bought a new position in Centene in the fourth quarter valued at approximately $34,000. Institutional investors own 93.63% of the company’s stock.

Centene Price Performance

Shares of NYSE CNC opened at $68.62 on Wednesday. Centene Corporation has a 1-year low of $25.08 and a 1-year high of $69.36. The stock has a fifty day simple moving average of $62.14 and a two-hundred day simple moving average of $48.37. The firm has a market cap of $33.89 billion, a price-to-earnings ratio of -5.22, a price-to-earnings-growth ratio of 0.53 and a beta of 1.07. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.76.

Centene (NYSE:CNC) last released its quarterly earnings data on Tuesday, April 28th. The company reported $3.37 EPS for the quarter, beating the consensus estimate 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 business had revenue of $49.94 billion for the quarter, compared to the consensus estimate of $47.53 billion. During the same period in the prior year, the firm earned $2.90 earnings per share. The company’s revenue was up 7.1% compared to the same quarter last year. Analysts anticipate that Centene Corporation will post 3.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CNC shares. Morgan Stanley upped their price target on shares of Centene from $50.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday, June 4th. Robert W. Baird lifted 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. Mizuho set a $63.00 price objective on shares of Centene and gave the company a “neutral” rating in a report on Monday, June 8th. The Goldman Sachs Group reiterated a “sell” rating and issued a $40.00 target price on shares of Centene in a report on Wednesday, April 29th. Finally, TD Cowen reaffirmed a “hold” rating and issued a $65.00 price target (up from $47.00) on shares of Centene in a research report on Tuesday. Seven equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $64.61.

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.