CIBC Private Wealth Group LLC Purchases 2,871 Shares of Centene Co. (NYSE:CNC)

CIBC Private Wealth Group LLC increased its position in shares of Centene Co. (NYSE:CNC) by 45.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,242 shares of the company’s stock after purchasing an additional 2,871 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Centene were worth $584,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CNC. Osborne Partners Capital Management LLC grew its holdings in shares of Centene by 5.0% in the fourth quarter. Osborne Partners Capital Management LLC now owns 221,156 shares of the company’s stock valued at $13,398,000 after acquiring an additional 10,515 shares in the last quarter. Perpetual Ltd grew its stake in Centene by 68.4% in the 4th quarter. Perpetual Ltd now owns 36,126 shares of the company’s stock valued at $2,189,000 after purchasing an additional 14,671 shares during the period. Polianta Ltd grew its position in Centene by 41.7% during the fourth quarter. Polianta Ltd now owns 22,100 shares of the company’s stock valued at $1,338,000 after buying an additional 6,500 shares during the period. KBC Group NV increased its holdings in Centene by 27.3% during the fourth quarter. KBC Group NV now owns 1,602,533 shares of the company’s stock worth $97,082,000 after buying an additional 343,559 shares during the last quarter. Finally, Washington Capital Management Inc. boosted its stake in Centene by 40.9% in the fourth quarter. Washington Capital Management Inc. now owns 19,130 shares of the company’s stock valued at $1,159,000 after acquiring an additional 5,550 shares during the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene Trading Down 3.4 %

Shares of CNC opened at $62.13 on Friday. Centene Co. has a 1-year low of $55.03 and a 1-year high of $80.59. The company has a market capitalization of $30.82 billion, a P/E ratio of 9.96, a P/E/G ratio of 0.80 and a beta of 0.40. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.11 and a quick ratio of 1.10. The firm’s 50 day simple moving average is $59.72 and its 200 day simple moving average is $62.35.

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

Analyst Ratings Changes

Several research firms recently commented on CNC. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price objective on shares of Centene in a research note on Wednesday, December 11th. Wells Fargo & Company dropped their price target on Centene from $76.00 to $72.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Robert W. Baird boosted their price objective on Centene from $66.00 to $71.00 in a research note on Tuesday, February 4th. StockNews.com lowered shares of Centene from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Finally, Truist Financial lowered their price target on shares of Centene from $89.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $79.92.

Centene Company 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.