MUFG Securities EMEA plc Has $788,000 Holdings in Centene Corporation $CNC

MUFG Securities EMEA plc boosted its holdings in shares of Centene Corporation (NYSE:CNC) by 114.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,149 shares of the company’s stock after acquiring an additional 10,218 shares during the quarter. MUFG Securities EMEA plc’s holdings in Centene were worth $788,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Oracle Investment Management Inc. acquired a new stake in Centene during the 3rd quarter worth about $3,936,000. Capitolis Liquid Global Markets LLC raised its stake in shares of Centene by 451.2% during the 3rd quarter. Capitolis Liquid Global Markets LLC now owns 181,900 shares of the company’s stock worth $6,490,000 after purchasing an additional 148,900 shares in the last quarter. Alberta Investment Management Corp raised its stake in shares of Centene by 22.1% during the 3rd quarter. Alberta Investment Management Corp now owns 1,075,000 shares of the company’s stock worth $38,356,000 after purchasing an additional 194,300 shares in the last quarter. Counterpoint Mutual Funds LLC raised its stake in shares of Centene by 161.1% during the 3rd quarter. Counterpoint Mutual Funds LLC now owns 91,943 shares of the company’s stock worth $3,281,000 after purchasing an additional 56,730 shares in the last quarter. Finally, Kennondale Capital Management LLC raised its stake in shares of Centene by 500.0% during the 3rd quarter. Kennondale Capital Management LLC now owns 48,978 shares of the company’s stock worth $1,748,000 after purchasing an additional 40,815 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Truist Financial raised their price target on Centene from $58.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday. Barclays raised their price target on Centene from $63.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Jefferies Financial Group raised their price target on Centene from $39.00 to $48.00 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. UBS Group reaffirmed a “neutral” rating and set a $61.00 price target (up from $55.00) on shares of Centene in a research note on Friday, May 22nd. Finally, Wall Street Zen raised Centene from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $58.94.

Centene Trading Down 0.6%

Shares of Centene stock opened at $59.64 on Thursday. Centene Corporation has a 1 year low of $25.08 and a 1 year high of $62.10. The company’s fifty day simple moving average is $47.01 and its 200-day simple moving average is $42.99. The company has a market cap of $29.45 billion, a price-to-earnings ratio of -4.54, a PEG ratio of 0.47 and a beta of 1.09. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.76.

Centene (NYSE:CNC) last announced its earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share (EPS) for the quarter, topping 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 business had revenue of $49.94 billion for the quarter, compared to analyst estimates of $47.53 billion. During the same quarter in the previous year, the firm posted $2.90 earnings per share. Centene’s revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts expect that Centene Corporation will post 3.45 EPS for the current 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.