Nisa Investment Advisors LLC Raises Holdings in Centene Corporation $CNC

Nisa Investment Advisors LLC lifted its holdings in Centene Corporation (NYSE:CNC) by 6.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,825 shares of the company’s stock after buying an additional 11,747 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Centene were worth $7,237,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CNC. Assetmark Inc. boosted its position in shares of Centene by 248.2% during the 2nd quarter. Assetmark Inc. now owns 1,156 shares of the company’s stock worth $63,000 after purchasing an additional 824 shares in the last quarter. GHP Investment Advisors Inc. lifted its stake in shares of Centene by 265.8% in the second quarter. GHP Investment Advisors Inc. now owns 1,178 shares of the company’s stock valued at $64,000 after purchasing an additional 856 shares during the period. Atlantic Union Bankshares Corp purchased a new stake in Centene during the second quarter worth about $76,000. Intact Investment Management Inc. acquired a new position in Centene during the second quarter worth about $76,000. Finally, CYBER HORNET ETFs LLC purchased a new position in Centene in the second quarter valued at about $76,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Wall Street Analyst Weigh In

CNC has been the topic of several research analyst reports. Cantor Fitzgerald boosted their price target on Centene from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on Centene from $24.00 to $32.00 in a report on Friday, October 31st. Zacks Research raised Centene from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 29th. UBS Group set a $42.00 price target on Centene and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Finally, Robert W. Baird increased their price objective on shares of Centene from $28.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Three equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $40.38.

Centene Stock Down 0.7%

Shares of NYSE:CNC opened at $46.58 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $22.90 billion, a P/E ratio of -4.31, a P/E/G ratio of 1.06 and a beta of 0.48. Centene Corporation has a 52-week low of $25.08 and a 52-week high of $66.81. The stock’s fifty day simple moving average is $39.17 and its 200-day simple moving average is $34.95.

Centene (NYSE:CNC) last announced its earnings results on Wednesday, October 29th. The company reported $0.50 earnings per share 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 firm had revenue of $49.69 billion during the quarter, compared to the consensus estimate of $47.50 billion. During the same quarter in the previous year, the company posted $1.62 EPS. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. As a group, equities research analysts forecast that Centene Corporation will post 6.86 earnings per share 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.