Daiwa Securities Group Inc. Purchases 14,828 Shares of Centene Corporation $CNC

Daiwa Securities Group Inc. lifted its position in shares of Centene Corporation (NYSE:CNC) by 13.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 121,679 shares of the company’s stock after purchasing an additional 14,828 shares during the period. Daiwa Securities Group Inc.’s holdings in Centene were worth $5,007,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Oracle Investment Management Inc. bought a new stake in shares of Centene during the third quarter worth about $3,936,000. Capitolis Liquid Global Markets LLC boosted its holdings in Centene by 451.2% in the third quarter. Capitolis Liquid Global Markets LLC now owns 181,900 shares of the company’s stock valued at $6,490,000 after acquiring an additional 148,900 shares during the last quarter. Alberta Investment Management Corp boosted its holdings in Centene by 22.1% in the third quarter. Alberta Investment Management Corp now owns 1,075,000 shares of the company’s stock valued at $38,356,000 after acquiring an additional 194,300 shares during the last quarter. Counterpoint Mutual Funds LLC boosted its holdings in Centene by 161.1% in the third quarter. Counterpoint Mutual Funds LLC now owns 91,943 shares of the company’s stock valued at $3,281,000 after acquiring an additional 56,730 shares during the last quarter. Finally, Kennondale Capital Management LLC boosted its holdings in Centene by 500.0% in the third quarter. Kennondale Capital Management LLC now owns 48,978 shares of the company’s stock valued at $1,748,000 after acquiring an additional 40,815 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors.

Centene Price Performance

Shares of CNC opened at $65.11 on Tuesday. Centene Corporation has a 52-week low of $25.08 and a 52-week high of $65.80. 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 business’s 50 day moving average price is $48.84 and its two-hundred day moving average price is $43.55. The firm has a market cap of $32.15 billion, a PE ratio of -4.96, a price-to-earnings-growth ratio of 0.49 and a beta of 1.09.

Centene (NYSE:CNC) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $1.14. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.The firm had revenue of $49.94 billion for the quarter, compared to analyst estimates of $47.53 billion. During the same period in the previous year, the firm earned $2.90 earnings per share. The company’s revenue was up 7.1% compared to the same quarter last year. On average, equities analysts anticipate that Centene Corporation will post 3.45 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on CNC shares. Deutsche Bank Aktiengesellschaft upgraded Centene from a “hold” rating to a “buy” rating and upped their target price for the company from $53.00 to $80.00 in a report on Wednesday, May 20th. Argus upgraded Centene to a “hold” rating in a report on Monday, February 9th. TD Cowen reiterated a “hold” rating and issued a $47.00 target price (up from $38.00) on shares of Centene in a report on Monday, May 4th. Robert W. Baird upped their target price on Centene from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Wednesday, April 15th. Finally, Jefferies Financial Group upped their target price on Centene from $39.00 to $48.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $60.24.

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.