Cornercap Investment Counsel Inc. Takes Position in Centene Corp (CNC)

Cornercap Investment Counsel Inc. purchased a new stake in shares of Centene Corp (NYSE:CNC) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 20,740 shares of the company’s stock, valued at approximately $2,092,000.

Other large investors have also made changes to their positions in the company. Focused Wealth Management Inc lifted its holdings in shares of Centene by 900.0% during the fourth quarter. Focused Wealth Management Inc now owns 1,000 shares of the company’s stock valued at $101,000 after purchasing an additional 900 shares in the last quarter. Financial Gravity Companies Inc. bought a new position in shares of Centene during the fourth quarter valued at $112,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Centene during the fourth quarter valued at $131,000. Tower Research Capital LLC TRC bought a new position in shares of Centene during the fourth quarter valued at $145,000. Finally, Advisors Preferred LLC bought a new position in shares of Centene during the fourth quarter valued at $159,000. 90.53% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of Centene Corp (CNC) opened at $102.66 on Monday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $17,993.49, a PE ratio of 20.41, a price-to-earnings-growth ratio of 0.99 and a beta of 0.76. Centene Corp has a 1 year low of $65.03 and a 1 year high of $112.42.

Centene (NYSE:CNC) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. The business had revenue of $12.81 billion during the quarter, compared to analysts’ expectations of $12.25 billion. Centene had a return on equity of 13.68% and a net margin of 1.71%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.19 earnings per share. sell-side analysts expect that Centene Corp will post 7.2 EPS for the current year.

A number of research analysts have recently issued reports on the company. Leerink Swann reaffirmed a “market perform” rating and set a $90.00 price target (down from $100.00) on shares of Centene in a report on Tuesday, February 13th. Credit Suisse Group upped their price objective on Centene from $110.00 to $112.00 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. Cantor Fitzgerald upped their price objective on Centene from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Morgan Stanley upped their price objective on Centene from $118.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Finally, Citigroup reiterated an “outperform” rating and set a $130.00 price objective (up previously from $122.00) on shares of Centene in a research report on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Centene currently has an average rating of “Buy” and a consensus price target of $110.28.

In other Centene news, Director Robert K. Ditmore sold 8,750 shares of the company’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $104.30, for a total value of $912,625.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jesse N. Hunter sold 10,000 shares of the company’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $98.73, for a total value of $987,300.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,500 shares of company stock valued at $3,311,613. Company insiders own 3.00% of the company’s stock.

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Centene Profile

Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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