Sequoia Financial Advisors LLC Acquires 13,663 Shares of Centene Corporation $CNC

Sequoia Financial Advisors LLC lifted its holdings in Centene Corporation (NYSE:CNC) by 60.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 36,148 shares of the company’s stock after purchasing an additional 13,663 shares during the period. Sequoia Financial Advisors LLC’s holdings in Centene were worth $1,487,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. WPG Advisers LLC increased its stake in shares of Centene by 44.5% in the third quarter. WPG Advisers LLC now owns 915 shares of the company’s stock worth $33,000 after purchasing an additional 282 shares during the period. Prime Capital Investment Advisors LLC increased its stake in Centene by 5.7% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 5,975 shares of the company’s stock valued at $246,000 after acquiring an additional 324 shares during the period. Burney Co. increased its stake in Centene by 3.8% during the fourth quarter. Burney Co. now owns 9,053 shares of the company’s stock valued at $373,000 after acquiring an additional 331 shares during the period. Versant Capital Management Inc increased its stake in Centene by 11.6% during the third quarter. Versant Capital Management Inc now owns 3,421 shares of the company’s stock valued at $122,000 after acquiring an additional 355 shares during the period. Finally, Snowden Capital Advisors LLC increased its stake in Centene by 8.0% during the second quarter. Snowden Capital Advisors LLC now owns 5,073 shares of the company’s stock valued at $275,000 after acquiring an additional 374 shares during the period. 93.63% of the stock is currently owned by institutional investors.

Centene Stock Up 0.7%

NYSE:CNC opened at $56.35 on Tuesday. The stock’s fifty day moving average price is $40.13 and its two-hundred day moving average price is $40.17. Centene Corporation has a 52-week low of $25.08 and a 52-week high of $64.15. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $27.82 billion, a price-to-earnings ratio of -4.29, a P/E/G ratio of 1.08 and a beta of 1.06.

Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $1.14. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.The firm had revenue of $49.94 billion for the quarter, compared to the consensus estimate of $47.53 billion. During the same quarter in the prior year, the business earned $2.90 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, analysts anticipate that Centene Corporation will post 3.45 EPS for the current year.

Analyst Ratings Changes

CNC has been the topic of several research reports. TD Cowen restated a “hold” rating and set a $47.00 price target (up from $38.00) on shares of Centene in a research note on Monday, May 4th. Jefferies Financial Group boosted their price target on Centene from $39.00 to $48.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. boosted their price target on Centene from $41.00 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. Sanford C. Bernstein lifted their price objective on Centene from $48.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Finally, Zacks Research raised Centene from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $53.82.

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.