Centene Corporation (NYSE:CNC) Shares Acquired by Grove Bank & Trust

Grove Bank & Trust increased its position in shares of Centene Corporation (NYSE:CNC) by 2.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,319 shares of the company’s stock after buying an additional 280 shares during the period. Grove Bank & Trust’s holdings in Centene were worth $687,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Murphy Pohlad Asset Management LLC acquired a new stake in shares of Centene in the first quarter valued at approximately $1,254,000. Janney Montgomery Scott LLC grew its position in Centene by 48.1% in the first quarter. Janney Montgomery Scott LLC now owns 49,468 shares of the company’s stock valued at $3,003,000 after acquiring an additional 16,068 shares in the last quarter. Brighton Jones LLC acquired a new position in Centene in the 1st quarter worth $324,000. Exchange Traded Concepts LLC boosted its holdings in Centene by 6.2% in the first quarter. Exchange Traded Concepts LLC now owns 75,008 shares of the company’s stock valued at $4,554,000 after purchasing an additional 4,396 shares during the last quarter. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Centene in the first quarter worth $148,000. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Stock Performance

Shares of NYSE:CNC opened at $54.91 on Wednesday. Centene Corporation has a twelve month low of $53.99 and a twelve month high of $80.59. The firm has a market cap of $27.32 billion, a PE ratio of 8.18, a price-to-earnings-growth ratio of 0.65 and a beta of 0.45. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.11 and a current ratio of 1.11. The business has a fifty day moving average of $58.98 and a 200-day moving average of $59.85.

Centene (NYSE:CNC) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.90 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.38. Centene had a return on equity of 14.56% and a net margin of 2.04%. The firm had revenue of $46.62 billion during the quarter, compared to analyst estimates of $43.16 billion. During the same period last year, the company earned $2.26 earnings per share. The company’s revenue was up 15.4% on a year-over-year basis. On average, equities research analysts predict that Centene Corporation will post 6.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CNC has been the topic of several research analyst reports. Wall Street Zen cut Centene from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 28th. Morgan Stanley started coverage on Centene in a research note on Monday, June 9th. They set an “overweight” rating and a $70.00 target price on the stock. Guggenheim reaffirmed a “neutral” rating on shares of Centene in a research note on Tuesday, April 29th. Barclays reiterated an “equal weight” rating and set a $65.00 price target (down previously from $84.00) on shares of Centene in a report on Monday, June 2nd. Finally, Jefferies Financial Group dropped their price objective on Centene from $64.00 to $61.00 and set a “hold” rating on the stock in a report on Tuesday, April 29th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $77.71.

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.