Rockefeller Capital Management L.P. Buys 13,107 Shares of Centene Corporation $CNC

Rockefeller Capital Management L.P. boosted its stake in shares of Centene Corporation (NYSE:CNC) by 248.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,383 shares of the company’s stock after acquiring an additional 13,107 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Centene were worth $756,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. DV Equities LLC bought a new stake in shares of Centene in the 4th quarter worth about $26,000. IFC & Insurance Marketing Inc. bought a new position in Centene during the 4th quarter valued at about $28,000. SBI Securities Co. Ltd. boosted its position in Centene by 118.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock valued at $31,000 after buying an additional 406 shares in the last quarter. Bayban bought a new stake in Centene during the fourth quarter worth about $33,000. Finally, MV Capital Management Inc. bought a new stake in Centene during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Performance

CNC stock opened at $67.80 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 company has a 50 day moving average price of $59.46 and a 200 day moving average price of $46.95. Centene Corporation has a fifty-two week low of $25.08 and a fifty-two week high of $69.29. The stock has a market capitalization of $33.48 billion, a PE ratio of -5.16, a price-to-earnings-growth ratio of 0.53 and a beta of 1.07.

Centene (NYSE:CNC) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $1.14. The firm had revenue of $49.94 billion for the quarter, compared to analyst estimates of $47.53 billion. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company earned $2.90 EPS. Analysts forecast that Centene Corporation will post 3.44 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CNC shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Centene in a research note on Monday, April 20th. Truist Financial increased their price target on Centene from $58.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Robert W. Baird lifted their price objective on Centene from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Wednesday, April 15th. Barclays reissued an “overweight” rating on shares of Centene in a research note on Tuesday, June 16th. Finally, Wells Fargo & Company increased their target price on Centene from $44.00 to $56.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Seven investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $60.78.

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.