Evoke Wealth LLC Boosts Stock Holdings in Centene Corporation $CNC

Evoke Wealth LLC raised its holdings in shares of Centene Corporation (NYSE:CNC) by 120.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 22,218 shares of the company’s stock after purchasing an additional 12,124 shares during the period. Evoke Wealth LLC’s holdings in Centene were worth $914,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Baird Financial Group Inc. acquired a new stake in Centene in the 1st quarter worth approximately $236,000. Sivia Capital Partners LLC raised its position in Centene by 80.0% during the second quarter. Sivia Capital Partners LLC now owns 9,710 shares of the company’s stock worth $527,000 after acquiring an additional 4,315 shares during the period. CW Advisors LLC raised its position in Centene by 20.3% during the second quarter. CW Advisors LLC now owns 4,863 shares of the company’s stock worth $264,000 after acquiring an additional 820 shares during the period. NewEdge Advisors LLC grew its holdings in shares of Centene by 6.1% during the second quarter. NewEdge Advisors LLC now owns 44,945 shares of the company’s stock worth $2,440,000 after buying an additional 2,582 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its position in shares of Centene by 0.4% in the second quarter. Treasurer of the State of North Carolina now owns 231,938 shares of the company’s stock valued at $12,590,000 after buying an additional 967 shares during the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CNC shares. Deutsche Bank Aktiengesellschaft raised shares of Centene from a “hold” rating to a “buy” rating and upped their price objective for the company from $53.00 to $80.00 in a report on Wednesday. Robert W. Baird increased their price target on shares of Centene from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 15th. Truist Financial boosted their target price on Centene from $49.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Wells Fargo & Company raised their price target on Centene from $44.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Finally, Raymond James Financial set a $60.00 target price on shares of Centene in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $56.94.

Centene Stock Up 0.0%

CNC opened at $59.15 on Monday. The firm has a 50 day moving average price of $43.06 and a 200 day moving average price of $41.68. The company has a market cap of $29.21 billion, a PE ratio of -4.50, a price-to-earnings-growth ratio of 1.14 and a beta of 1.06. Centene Corporation has a 1 year low of $25.08 and a 1 year high of $60.76. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.12 and a current ratio of 1.12.

Centene (NYSE:CNC) last posted its earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $47.53 billion. During the same quarter in the prior year, the company earned $2.90 EPS. The company’s revenue was up 7.1% on a year-over-year basis. Sell-side analysts expect that Centene Corporation will post 3.45 earnings per share 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.