Focus Partners Advisor Solutions LLC Has $5.28 Million Stake in Centene Corporation $CNC

Focus Partners Advisor Solutions LLC boosted its holdings in Centene Corporation (NYSE:CNC) by 76.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 128,349 shares of the company’s stock after purchasing an additional 55,612 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Centene were worth $5,282,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Prime Capital Investment Advisors LLC raised its position in shares of Centene by 5.7% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 5,975 shares of the company’s stock valued at $246,000 after buying an additional 324 shares in the last quarter. Burney Co. raised its position in shares of Centene by 3.8% in the 4th quarter. Burney Co. now owns 9,053 shares of the company’s stock valued at $373,000 after buying an additional 331 shares in the last quarter. Sapient Capital LLC raised its position in shares of Centene by 4.0% in the 4th quarter. Sapient Capital LLC now owns 9,442 shares of the company’s stock valued at $389,000 after buying an additional 359 shares in the last quarter. Snowden Capital Advisors LLC raised its position in shares of Centene by 8.0% in the 2nd quarter. Snowden Capital Advisors LLC now owns 5,073 shares of the company’s stock valued at $275,000 after buying an additional 374 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Centene by 15.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,785 shares of the company’s stock valued at $115,000 after buying an additional 379 shares in the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Trading Up 1.8%

NYSE:CNC opened at $66.23 on Wednesday. The firm’s fifty day moving average is $49.52 and its 200-day moving average is $43.77. 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 $66.55. The firm has a market cap of $32.70 billion, a P/E ratio of -5.04, a P/E/G ratio of 0.51 and a beta of 1.09.

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Jefferies Financial Group boosted their target price on shares of Centene from $39.00 to $48.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. Bank of America upped their price objective on shares of Centene from $72.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. JPMorgan Chase & Co. upped their price objective on shares of Centene from $52.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday. UBS Group reiterated a “neutral” rating and set a $61.00 price objective (up from $55.00) on shares of Centene in a research report on Friday, May 22nd. Finally, Robert W. Baird upped their price objective on shares of Centene from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 15th. 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 issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $60.24.

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.