LSV Asset Management Has $247.63 Million Stake in Centene Corporation $CNC

LSV Asset Management grew its holdings in Centene Corporation (NYSE:CNC) by 12.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,562,064 shares of the company’s stock after purchasing an additional 506,300 shares during the quarter. LSV Asset Management owned about 0.93% of Centene worth $247,629,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of CNC. Quarry LP acquired a new position in Centene during the 1st quarter valued at $26,000. Assetmark Inc. grew its position in Centene by 248.2% during the second quarter. Assetmark Inc. now owns 1,156 shares of the company’s stock worth $63,000 after buying an additional 824 shares in the last quarter. GHP Investment Advisors Inc. raised its holdings in Centene by 265.8% in the 2nd quarter. GHP Investment Advisors Inc. now owns 1,178 shares of the company’s stock valued at $64,000 after acquiring an additional 856 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Centene in the 2nd quarter worth approximately $76,000. Finally, Trust Co. of Toledo NA OH acquired a new stake in shares of Centene during the 2nd quarter worth approximately $77,000. 93.63% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CNC shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Centene in a research report on Wednesday, October 8th. The Goldman Sachs Group reissued a “sell” rating and issued a $38.00 target price (up previously from $33.00) on shares of Centene in a research note on Thursday, October 30th. Jefferies Financial Group upped their price objective on Centene from $25.00 to $32.00 in a research note on Monday, November 3rd. JPMorgan Chase & Co. increased their price objective on Centene from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Finally, Cantor Fitzgerald boosted their target price on shares of Centene from $38.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Three research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $39.47.

Centene Price Performance

Centene stock opened at $36.40 on Monday. Centene Corporation has a 52 week low of $25.08 and a 52 week high of $66.81. The firm has a market cap of $17.89 billion, a P/E ratio of -3.36, a P/E/G ratio of 1.24 and a beta of 0.49. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.10 and a current ratio of 1.08. The business’s fifty day moving average is $34.97 and its two-hundred day moving average is $39.75.

Centene (NYSE:CNC) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.50 EPS for the quarter, topping 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 firm had revenue of $49.69 billion for the quarter, compared to analyst estimates of $47.50 billion. During the same quarter in the prior year, the firm earned $1.62 EPS. The company’s revenue was up 18.2% on a year-over-year basis. Equities research analysts forecast that Centene Corporation will post 6.86 earnings per share for the current fiscal year.

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.