United Capital Financial Advisers LLC Purchases 6,929 Shares of Centene Co. (NYSE:CNC)

United Capital Financial Advisers LLC grew its position in Centene Co. (NYSE:CNCGet Rating) by 7.2% during the second quarter, HoldingsChannel reports. The firm owned 103,775 shares of the company’s stock after buying an additional 6,929 shares during the period. United Capital Financial Advisers LLC’s holdings in Centene were worth $8,780,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Centene by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 63,607,238 shares of the company’s stock valued at $5,355,094,000 after acquiring an additional 1,121,697 shares during the period. Capital World Investors raised its holdings in Centene by 7.9% during the first quarter. Capital World Investors now owns 50,535,746 shares of the company’s stock worth $4,254,604,000 after buying an additional 3,683,887 shares during the last quarter. BlackRock Inc. raised its holdings in Centene by 1.7% during the first quarter. BlackRock Inc. now owns 41,847,249 shares of the company’s stock worth $3,523,119,000 after buying an additional 689,076 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Centene by 12.1% during the second quarter. JPMorgan Chase & Co. now owns 29,944,019 shares of the company’s stock worth $2,533,562,000 after buying an additional 3,223,590 shares during the last quarter. Finally, Politan Capital Management LP raised its holdings in Centene by 1.8% during the first quarter. Politan Capital Management LP now owns 12,914,408 shares of the company’s stock worth $1,087,264,000 after buying an additional 233,000 shares during the last quarter. Institutional investors and hedge funds own 94.74% of the company’s stock.

Centene Price Performance

Shares of NYSE:CNC opened at $83.63 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $47.36 billion, a PE ratio of 24.38, a P/E/G ratio of 1.08 and a beta of 0.60. Centene Co. has a twelve month low of $69.51 and a twelve month high of $98.53. The company has a 50-day moving average price of $80.36 and a two-hundred day moving average price of $84.91.

Centene (NYSE:CNCGet Rating) last issued its earnings results on Tuesday, October 25th. The company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.08. The firm had revenue of $35.84 billion during the quarter, compared to analyst estimates of $35.45 billion. Centene had a net margin of 1.42% and a return on equity of 13.08%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the business earned $1.26 earnings per share. Equities analysts forecast that Centene Co. will post 5.71 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CNC shares. StockNews.com began coverage on shares of Centene in a report on Wednesday, October 12th. They set a “strong-buy” rating on the stock. Cowen lowered their target price on shares of Centene from $108.00 to $101.00 in a report on Thursday, September 22nd. Truist Financial increased their target price on shares of Centene from $102.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, July 27th. Stephens increased their target price on shares of Centene to $110.00 and gave the company an “outperform” rating in a report on Wednesday, July 27th. Finally, Wells Fargo & Company downgraded shares of Centene from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $103.00 to $99.00 in a report on Friday, August 26th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Centene currently has an average rating of “Moderate Buy” and a consensus target price of $98.68.

About Centene

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Centene Corporation operates as a multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. Its Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which cover dually eligible individuals, as well as aged, blind, or disabled programs.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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