C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Takes $167,000 Position in Centene Co. (NYSE:CNC)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in Centene Co. (NYSE:CNC) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 2,757 shares of the company’s stock, valued at approximately $167,000.

A number of other institutional investors have also modified their holdings of the stock. Harris Associates L P increased its holdings in shares of Centene by 5.7% in the third quarter. Harris Associates L P now owns 26,314,183 shares of the company’s stock valued at $1,980,932,000 after purchasing an additional 1,420,825 shares during the period. State Street Corp increased its holdings in shares of Centene by 0.5% in the third quarter. State Street Corp now owns 23,468,159 shares of the company’s stock valued at $1,766,683,000 after purchasing an additional 111,654 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Centene by 3.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,768,534 shares of the company’s stock valued at $434,255,000 after buying an additional 194,566 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Centene by 15.4% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 3,203,049 shares of the company’s stock valued at $241,126,000 after buying an additional 428,100 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Centene by 693.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,705,936 shares of the company’s stock valued at $103,346,000 after buying an additional 1,490,935 shares in the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CNC. StockNews.com downgraded Centene from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $75.00 price objective (down from $80.00) on shares of Centene in a research report on Tuesday, December 17th. Stephens dropped their target price on Centene from $75.00 to $73.00 and set an “equal weight” rating for the company in a research note on Friday, December 13th. Truist Financial dropped their target price on Centene from $89.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Finally, UBS Group upgraded Centene from a “neutral” rating to a “buy” rating and upped their target price for the company from $79.00 to $80.00 in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.92.

Insider Transactions at Centene

In other Centene news, Director H James Dallas purchased 1,693 shares of Centene stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average price of $59.01 per share, with a total value of $99,903.93. Following the completion of the acquisition, the director now owns 1,693 shares of the company’s stock, valued at approximately $99,903.93. This trade represents a ? increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Theodore R. Samuels II purchased 5,000 shares of Centene stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average cost of $58.86 per share, with a total value of $294,300.00. Following the acquisition, the director now directly owns 23,000 shares of the company’s stock, valued at $1,353,780. The trade was a 27.78 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 23,693 shares of company stock valued at $1,409,954 over the last quarter. Company insiders own 0.33% of the company’s stock.

Centene Price Performance

Shares of NYSE CNC opened at $58.50 on Friday. Centene Co. has a 1-year low of $55.03 and a 1-year high of $81.42. The business has a 50-day moving average of $61.05 and a 200-day moving average of $66.03. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.11 and a quick ratio of 1.10. The company has a market capitalization of $29.54 billion, a price-to-earnings ratio of 9.38, a PEG ratio of 0.75 and a beta of 0.45.

Centene (NYSE:CNC) last issued its earnings results on Tuesday, February 4th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.31. Centene had a return on equity of 13.85% and a net margin of 2.03%. The company had revenue of $40.81 billion during the quarter, compared to the consensus estimate of $38.78 billion. During the same quarter in the prior year, the business earned $0.45 earnings per share. The company’s revenue was up 3.4% compared to the same quarter last year. On average, equities analysts anticipate that Centene Co. will post 7.01 EPS for the current fiscal year.

Centene Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children’s health insurance program, foster care, medicare-medicaid plans, long-term services and support.