OVERSEA CHINESE BANKING Corp Ltd Makes New $552,000 Investment in Centene Co. (NYSE:CNC)

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Centene Co. (NYSE:CNC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,106 shares of the company’s stock, valued at approximately $552,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC boosted its stake in Centene by 75.3% during the fourth quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company’s stock worth $25,000 after buying an additional 177 shares during the last quarter. Rialto Wealth Management LLC acquired a new position in Centene during the fourth quarter worth $30,000. OFI Invest Asset Management acquired a new position in shares of Centene in the 4th quarter valued at $33,000. SRS Capital Advisors Inc. lifted its stake in shares of Centene by 73.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 631 shares of the company’s stock valued at $38,000 after purchasing an additional 267 shares during the last quarter. Finally, Riverview Trust Co lifted its stake in shares of Centene by 172.7% in the 4th quarter. Riverview Trust Co now owns 758 shares of the company’s stock valued at $46,000 after purchasing an additional 480 shares during the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Analysts Set New Price Targets

CNC has been the topic of several recent analyst reports. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $75.00 price target (down previously from $80.00) on shares of Centene in a research note on Tuesday, December 17th. Barclays upped their price target on Centene from $91.00 to $93.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Truist Financial decreased their price target on Centene from $89.00 to $84.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. Jefferies Financial Group downgraded Centene from a “hold” rating to an “underperform” rating and cut their price objective for the company from $68.00 to $52.00 in a report on Tuesday, December 10th. Finally, Argus downgraded Centene from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $79.92.

Centene Price Performance

Shares of NYSE CNC opened at $59.62 on Friday. The stock’s 50-day moving average is $60.32 and its two-hundred day moving average is $63.41. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.11 and a quick ratio of 1.10. Centene Co. has a 1-year low of $55.03 and a 1-year high of $80.59. The company has a market cap of $29.58 billion, a price-to-earnings ratio of 9.55, a price-to-earnings-growth ratio of 0.80 and a beta of 0.40.

Centene (NYSE:CNC) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.31. Centene had a return on equity of 13.85% and a net margin of 2.03%. The business had revenue of $40.81 billion for the quarter, compared to the consensus estimate of $38.78 billion. During the same quarter in the prior year, the business posted $0.45 EPS. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. Analysts forecast that Centene Co. will post 6.86 EPS for the current fiscal year.

Centene Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children’s health insurance program, foster care, medicare-medicaid plans, long-term services and support.