Fi3 FINANCIAL ADVISORS LLC Invests $531,000 in Centene Corporation $CNC

Fi3 FINANCIAL ADVISORS LLC acquired a new position in Centene Corporation (NYSE:CNC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 12,904 shares of the company’s stock, valued at approximately $531,000.

Several other hedge funds have also recently made changes to their positions in CNC. Leonteq Securities AG acquired a new stake in shares of Centene in the 4th quarter valued at about $1,002,000. ABN Amro Investment Solutions acquired a new stake in shares of Centene in the 4th quarter valued at about $794,000. IFP Advisors Inc grew its stake in shares of Centene by 269.9% in the 4th quarter. IFP Advisors Inc now owns 10,043 shares of the company’s stock valued at $413,000 after buying an additional 7,328 shares during the period. Poehling Capital Management INC. grew its stake in shares of Centene by 0.7% in the 4th quarter. Poehling Capital Management INC. now owns 96,598 shares of the company’s stock valued at $3,975,000 after buying an additional 631 shares during the period. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Centene in the 4th quarter valued at about $1,914,000. 93.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CNC has been the subject of several research reports. Wall Street Zen upgraded Centene from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. TD Cowen restated a “hold” rating and issued a $47.00 target price (up from $38.00) on shares of Centene in a research note on Monday, May 4th. Argus upgraded Centene to a “hold” rating in a research note on Monday, February 9th. Truist Financial raised their target price on Centene from $49.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft upgraded Centene from a “hold” rating to a “buy” rating and lifted their price target for the company from $53.00 to $80.00 in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $55.88.

Centene Price Performance

CNC stock opened at $58.28 on Thursday. The company has a market capitalization of $28.78 billion, a P/E ratio of -4.44, a price-to-earnings-growth ratio of 1.14 and a beta of 1.06. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.12 and a current ratio of 1.12. Centene Corporation has a 52-week low of $25.08 and a 52-week high of $61.63. The business has a 50-day simple moving average of $42.17 and a two-hundred day simple moving average of $41.35.

Centene (NYSE:CNC) last released its quarterly earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $1.14. The business had revenue of $49.94 billion during the quarter, compared to the consensus estimate of $47.53 billion. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.90 EPS. Research analysts expect that Centene Corporation will post 3.45 EPS for the current fiscal year.

About Centene

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.