Arrowstreet Capital Limited Partnership Has $221.64 Million Stock Holdings in Centene Corporation $CNC

Arrowstreet Capital Limited Partnership decreased its stake in shares of Centene Corporation (NYSE:CNC) by 21.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,769,765 shares of the company’s stock after selling 1,819,735 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Centene were worth $221,642,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CNC. 180 Wealth Advisors LLC grew its stake in shares of Centene by 3.1% in the first quarter. 180 Wealth Advisors LLC now owns 6,683 shares of the company’s stock valued at $219,000 after buying an additional 199 shares in the last quarter. Kestra Advisory Services LLC lifted its stake in Centene by 0.5% in the fourth quarter. Kestra Advisory Services LLC now owns 52,602 shares of the company’s stock valued at $2,165,000 after acquiring an additional 264 shares during the last quarter. Arkadios Wealth Advisors grew its position in shares of Centene by 4.2% in the 4th quarter. Arkadios Wealth Advisors now owns 7,465 shares of the company’s stock valued at $307,000 after acquiring an additional 300 shares during the period. Affinity Investment Advisors LLC increased its stake in shares of 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 purchasing an additional 316 shares during the last quarter. Finally, SouthState Bank Corp raised its holdings in shares of Centene by 1.3% in the 1st quarter. SouthState Bank Corp now owns 24,013 shares of the company’s stock valued at $786,000 after purchasing an additional 317 shares during the period. Institutional investors and hedge funds own 93.63% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on CNC. Bank of America lifted their price target on Centene from $72.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Zacks Research downgraded Centene from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. UBS Group reissued a “neutral” rating and set a $61.00 target price (up from $55.00) on shares of Centene in a report on Friday, May 22nd. Raymond James Financial set a $75.00 price target on Centene in a report on Tuesday, July 7th. Finally, TD Cowen reiterated a “hold” rating and issued a $65.00 price objective (up from $47.00) on shares of Centene in a report on Tuesday, July 14th. Seven analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $64.61.

Centene Stock Performance

Shares of NYSE CNC opened at $63.35 on Friday. 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 firm has a market cap of $31.28 billion, a price-to-earnings ratio of -4.82, a P/E/G ratio of 0.50 and a beta of 1.07. The stock’s fifty day moving average price is $63.46 and its two-hundred day moving average price is $49.69. Centene Corporation has a one year low of $25.08 and a one year high of $69.36.

Centene (NYSE:CNC) last announced its 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 company had revenue of $49.94 billion during the quarter, compared to analysts’ expectations of $47.53 billion. During the same quarter in the previous year, the business posted $2.90 earnings per share. Centene’s quarterly revenue was up 7.1% on a year-over-year basis. On average, equities analysts forecast that Centene Corporation will post 3.44 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.