C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Acquires Shares of 2,757 Centene Co. (NYSE:CNC)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Centene Co. (NYSE:CNC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,757 shares of the company’s stock, valued at approximately $167,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Private Trust Co. NA boosted its stake in Centene by 75.3% in the third quarter. Private Trust Co. NA now owns 773 shares of the company’s stock valued at $58,000 after acquiring an additional 332 shares during the last quarter. True Wealth Design LLC bought a new position in shares of Centene during the third quarter worth $66,000. R Squared Ltd bought a new position in shares of Centene during the fourth quarter worth $82,000. Venturi Wealth Management LLC boosted its position in shares of Centene by 77.3% during the third quarter. Venturi Wealth Management LLC now owns 1,163 shares of the company’s stock worth $88,000 after purchasing an additional 507 shares in the last quarter. Finally, Cromwell Holdings LLC boosted its position in shares of Centene by 588.0% during the third quarter. Cromwell Holdings LLC now owns 1,266 shares of the company’s stock worth $95,000 after purchasing an additional 1,082 shares in the last quarter. 93.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CNC. Truist Financial reduced their price target on shares of Centene from $89.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 price objective on shares of Centene in a research report on Wednesday, December 11th. UBS Group raised shares of Centene from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $79.00 to $80.00 in a research report on Friday, December 13th. Barclays boosted their price objective on shares of Centene from $91.00 to $93.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Finally, Stephens cut their price objective on shares of Centene from $75.00 to $73.00 and set an “equal weight” rating on the stock in a research 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’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.

Centene Stock Up 0.1 %

Shares of CNC stock opened at $56.87 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. Centene Co. has a 1 year low of $55.03 and a 1 year high of $81.42. The firm’s fifty day moving average price is $61.08 and its two-hundred day moving average price is $66.66. The firm has a market capitalization of $28.71 billion, a P/E ratio of 9.11, a PEG ratio of 0.79 and a beta of 0.45.

Centene (NYSE:CNC) last released its quarterly earnings data 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. The company had revenue of $40.81 billion for the quarter, compared to analyst estimates of $38.78 billion. Centene had a net margin of 2.03% and a return on equity of 13.85%. Centene’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 EPS. On average, equities analysts predict that Centene Co. will post 6.97 EPS for the current fiscal year.

Insider Transactions at Centene

In related news, Director H James Dallas bought 1,693 shares of Centene stock in a transaction that occurred on Monday, December 16th. The stock was acquired at an average price of $59.01 per share, with a total value of $99,903.93. Following the acquisition, the director now owns 1,693 shares of the company’s stock, valued at approximately $99,903.93. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Theodore R. Samuels II bought 5,000 shares of Centene stock in a transaction that occurred on Friday, December 13th. The shares were bought 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 in the company, valued at $1,353,780. This trade represents a 27.78 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 23,693 shares of company stock worth $1,409,954 in the last ninety days. Insiders own 0.33% of the company’s stock.

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.