Jefferies Financial Group Inc. Has $4.88 Million Holdings in Centene Corporation $CNC

Jefferies Financial Group Inc. cut its stake in Centene Corporation (NYSE:CNC) by 38.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 89,941 shares of the company’s stock after selling 56,235 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Centene were worth $4,882,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Mutual of America Capital Management LLC lifted its holdings in Centene by 3.7% during the first quarter. Mutual of America Capital Management LLC now owns 99,490 shares of the company’s stock worth $6,040,000 after acquiring an additional 3,574 shares in the last quarter. Private Advisor Group LLC bought a new position in shares of Centene during the 1st quarter valued at about $316,000. Avantax Advisory Services Inc. grew its position in shares of Centene by 5.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 17,361 shares of the company’s stock valued at $1,054,000 after purchasing an additional 901 shares during the period. Cetera Investment Advisers increased its stake in Centene by 14.4% during the 1st quarter. Cetera Investment Advisers now owns 59,122 shares of the company’s stock worth $3,589,000 after purchasing an additional 7,435 shares in the last quarter. Finally, TD Asset Management Inc lifted its stake in Centene by 5.2% in the first quarter. TD Asset Management Inc now owns 347,919 shares of the company’s stock valued at $21,122,000 after buying an additional 17,125 shares in the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CNC. Barclays set a $44.00 price target on Centene and gave the company an “equal weight” rating in a research note on Tuesday, November 4th. Morgan Stanley lifted their target price on Centene from $28.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 14th. TD Cowen upped their price target on Centene from $30.00 to $34.00 and gave the stock a “hold” rating in a research report on Friday, October 31st. Truist Financial reiterated a “buy” rating and issued a $45.00 price objective (up from $42.00) on shares of Centene in a report on Thursday, October 30th. Finally, Mizuho increased their target price on shares of Centene from $28.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. Three investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $40.00.

Centene Price Performance

NYSE:CNC opened at $38.19 on Tuesday. The stock has a market capitalization of $18.77 billion, a PE ratio of -3.53, a P/E/G ratio of 1.24 and a beta of 0.49. The firm has a fifty day simple moving average of $35.54 and a 200 day simple moving average of $38.73. Centene Corporation has a 1-year low of $25.08 and a 1-year high of $66.81. The company has a current ratio of 1.08, a quick ratio of 1.10 and a debt-to-equity ratio of 0.83.

Centene (NYSE:CNC) last issued its earnings results on Wednesday, October 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $47.50 billion. During the same period last year, the business posted $1.62 EPS. Centene’s revenue was up 18.2% on a year-over-year basis. On average, research analysts expect that Centene Corporation 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.