Twin Capital Management Inc. Grows Stock Position in Centene Corporation $CNC

Twin Capital Management Inc. boosted its holdings in shares of Centene Corporation (NYSE:CNC) by 35.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,869 shares of the company’s stock after buying an additional 5,217 shares during the quarter. Twin Capital Management Inc.’s holdings in Centene were worth $1,078,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. OneDigital Investment Advisors LLC grew its holdings in Centene by 42.4% during the first quarter. OneDigital Investment Advisors LLC now owns 4,917 shares of the company’s stock valued at $299,000 after purchasing an additional 1,465 shares during the period. Envestnet Asset Management Inc. increased its holdings in Centene by 30.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 708,717 shares of the company’s stock worth $43,026,000 after acquiring an additional 163,462 shares in the last quarter. TD Private Client Wealth LLC raised its stake in Centene by 415.1% during the 1st quarter. TD Private Client Wealth LLC now owns 3,879 shares of the company’s stock worth $235,000 after acquiring an additional 3,126 shares during the period. Crossmark Global Holdings Inc. boosted its position in shares of Centene by 41.2% in the first quarter. Crossmark Global Holdings Inc. now owns 23,636 shares of the company’s stock worth $1,435,000 after purchasing an additional 6,892 shares during the period. Finally, M&T Bank Corp raised its position in shares of Centene by 20.7% during the 1st quarter. M&T Bank Corp now owns 32,854 shares of the company’s stock valued at $1,995,000 after purchasing an additional 5,642 shares during the period. Institutional investors own 93.63% of the company’s stock.

Centene Stock Performance

NYSE:CNC opened at $37.08 on Friday. The firm has a market capitalization of $18.23 billion, a PE ratio of -3.43, a PEG ratio of 1.24 and a beta of 0.49. The stock’s fifty day moving average is $34.16 and its 200 day moving average is $41.02. Centene Corporation has a fifty-two week low of $25.08 and a fifty-two week high of $66.81. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.10 and a current ratio of 1.08.

Centene (NYSE:CNC) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.71. Centene had a negative net margin of 2.85% and a positive return on equity of 7.82%. The business had revenue of $49.69 billion for the quarter, compared to analysts’ expectations of $47.50 billion. During the same quarter in the previous year, the business posted $1.62 earnings per share. The business’s revenue was up 18.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Centene Corporation will post 6.86 earnings per share for the current year.

Wall Street Analyst Weigh In

CNC has been the topic of several recent analyst reports. Wells Fargo & Company set a $41.00 target price on Centene and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. The Goldman Sachs Group reiterated a “sell” rating and set a $38.00 price objective (up previously from $33.00) on shares of Centene in a research report on Thursday, October 30th. JPMorgan Chase & Co. upped their target price on shares of Centene from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Tuesday. Truist Financial restated a “buy” rating and set a $45.00 price objective (up previously from $42.00) on shares of Centene in a research report on Thursday, October 30th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Centene from $24.00 to $32.00 in a research note on Friday, October 31st. Three analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Centene has a consensus rating of “Hold” and a consensus target price of $41.53.

About Centene

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.