CSM Advisors LLC Grows Stake in Centene Corporation $CNC

CSM Advisors LLC grew its position in Centene Corporation (NYSE:CNC) by 1.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 151,288 shares of the company’s stock after buying an additional 1,830 shares during the quarter. CSM Advisors LLC’s holdings in Centene were worth $8,213,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CNC. OneDigital Investment Advisors LLC grew its holdings in Centene by 42.4% during the 1st quarter. OneDigital Investment Advisors LLC now owns 4,917 shares of the company’s stock worth $299,000 after acquiring an additional 1,465 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of 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 purchasing an additional 163,462 shares during the period. TD Private Client Wealth LLC boosted its stake in shares of Centene by 415.1% during the first quarter. TD Private Client Wealth LLC now owns 3,879 shares of the company’s stock valued at $235,000 after purchasing an additional 3,126 shares in the last quarter. M&T Bank Corp raised its stake in Centene by 20.7% in the first quarter. M&T Bank Corp now owns 32,854 shares of the company’s stock worth $1,995,000 after buying an additional 5,642 shares in the last quarter. Finally, Greenleaf Trust lifted its holdings in Centene by 38.9% during the first quarter. Greenleaf Trust now owns 6,714 shares of the company’s stock worth $408,000 after buying an additional 1,880 shares during the period. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene Stock Performance

CNC opened at $37.49 on Friday. The firm’s 50-day moving average price is $34.33 and its 200-day moving average price is $40.75. The company has a market cap of $18.43 billion, a P/E ratio of -3.46, a price-to-earnings-growth ratio of 1.24 and a beta of 0.49. The company has a quick ratio of 1.10, a current ratio of 1.08 and a debt-to-equity ratio of 0.83. Centene Corporation has a 52-week low of $25.08 and a 52-week high of $66.81.

Centene (NYSE:CNC) last released its earnings results on Wednesday, October 29th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.71. The company had revenue of $49.69 billion for the quarter, compared to the consensus estimate of $47.50 billion. Centene had a negative net margin of 2.85% and a positive return on equity of 7.82%. Centene’s revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.62 EPS. As a group, equities analysts anticipate that Centene Corporation will post 6.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CNC has been the topic of a number of analyst reports. Mizuho lifted their price target on Centene from $28.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Truist Financial reiterated a “buy” rating and issued a $45.00 target price (up previously from $42.00) on shares of Centene in a research note on Thursday, October 30th. Cantor Fitzgerald increased their price target on shares of Centene from $38.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Morgan Stanley raised their price target on shares of Centene from $28.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, October 14th. Finally, Jefferies Financial Group boosted their price objective on shares of Centene from $25.00 to $32.00 in a research note on Monday, November 3rd. Three equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $39.82.

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.