Pitcairn Co. Acquires 293 Shares of Centene Co. (NYSE:CNC)

Pitcairn Co. increased its holdings in shares of Centene Co. (NYSE:CNC) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,385 shares of the company’s stock after acquiring an additional 293 shares during the quarter. Pitcairn Co.’s holdings in Centene were worth $569,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Hilltop Holdings Inc. boosted its holdings in shares of Centene by 24.4% in the 3rd quarter. Hilltop Holdings Inc. now owns 4,607 shares of the company’s stock worth $347,000 after buying an additional 905 shares during the last quarter. IHT Wealth Management LLC raised its position in Centene by 21.5% in the third quarter. IHT Wealth Management LLC now owns 7,052 shares of the company’s stock worth $528,000 after acquiring an additional 1,250 shares during the period. Point72 Asset Management L.P. boosted its stake in Centene by 123,902.5% in the third quarter. Point72 Asset Management L.P. now owns 248,005 shares of the company’s stock valued at $18,670,000 after acquiring an additional 247,805 shares during the last quarter. Royal London Asset Management Ltd. grew its position in shares of Centene by 1.7% during the 3rd quarter. Royal London Asset Management Ltd. now owns 310,156 shares of the company’s stock valued at $23,349,000 after acquiring an additional 5,112 shares during the period. Finally, Stifel Financial Corp increased its stake in shares of Centene by 1.1% during the 3rd quarter. Stifel Financial Corp now owns 180,478 shares of the company’s stock worth $13,586,000 after purchasing an additional 2,023 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.

Centene Stock Performance

Shares of NYSE:CNC opened at $62.13 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70. The company has a 50-day moving average price of $59.72 and a 200-day moving average price of $62.26. The company has a market cap of $30.82 billion, a price-to-earnings ratio of 9.96, a price-to-earnings-growth ratio of 0.80 and a beta of 0.40. Centene Co. has a 12 month low of $55.03 and a 12 month high of $80.59.

Centene (NYSE:CNC) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.31. The business had revenue of $40.81 billion during the quarter, compared to analyst estimates of $38.78 billion. Centene had a return on equity of 13.85% and a net margin of 2.03%. Centene’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.45 EPS. As a group, equities analysts anticipate that Centene Co. will post 6.86 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CNC. Wells Fargo & Company reduced their price objective on Centene from $76.00 to $72.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Barclays increased their price target on Centene from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Truist Financial dropped their price objective on shares of Centene from $89.00 to $84.00 and set a “buy” rating on the stock in a report on Friday, December 13th. StockNews.com downgraded shares of Centene from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Finally, UBS Group raised Centene from a “neutral” rating to a “buy” rating and lifted their target price for the company from $79.00 to $80.00 in a report on Friday, December 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $79.92.

Centene Company 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.