ProShare Advisors LLC Has $6.20 Million Holdings in Centene Corporation $CNC

ProShare Advisors LLC grew its holdings in shares of Centene Corporation (NYSE:CNC) by 9.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 114,266 shares of the company’s stock after acquiring an additional 10,121 shares during the period. ProShare Advisors LLC’s holdings in Centene were worth $6,202,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Ballentine Partners LLC lifted its stake in Centene by 8.4% in the first quarter. Ballentine Partners LLC now owns 4,561 shares of the company’s stock valued at $277,000 after buying an additional 354 shares during the period. Mutual of America Capital Management LLC lifted its position in shares of Centene by 3.7% during the 1st quarter. Mutual of America Capital Management LLC now owns 99,490 shares of the company’s stock valued at $6,040,000 after acquiring an additional 3,574 shares during the period. Schechter Investment Advisors LLC bought a new position in Centene during the first quarter worth $205,000. Apollon Wealth Management LLC bought a new stake in Centene in the first quarter valued at $407,000. Finally, Wealthfront Advisers LLC raised its holdings in shares of Centene by 38.3% during the first quarter. Wealthfront Advisers LLC now owns 23,195 shares of the company’s stock valued at $1,408,000 after purchasing an additional 6,419 shares during the period. Institutional investors own 93.63% of the company’s stock.

Analyst Upgrades and Downgrades

CNC has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Centene in a research report on Wednesday, October 8th. Robert W. Baird decreased their price objective on Centene from $68.00 to $28.00 and set a “neutral” rating for the company in a report on Friday, July 25th. Wells Fargo & Company cut their target price on Centene from $41.00 to $35.00 and set an “equal weight” rating on the stock in a report on Wednesday. Truist Financial restated a “buy” rating and set a $45.00 price target (up previously from $42.00) on shares of Centene in a research note on Thursday, October 30th. Finally, Jefferies Financial Group raised their price objective on shares of Centene from $25.00 to $32.00 in a research note on Monday, November 3rd. Three equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $39.47.

Centene Price Performance

CNC opened at $36.09 on Friday. Centene Corporation has a 1 year low of $25.08 and a 1 year high of $66.81. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.08 and a quick ratio of 1.10. The company has a market capitalization of $17.74 billion, a price-to-earnings ratio of -3.34, a P/E/G ratio of 1.24 and a beta of 0.49. The firm’s fifty day moving average price is $34.82 and its two-hundred day moving average price is $40.19.

Centene (NYSE:CNC) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.71. Centene had a negative net margin of 2.85% and a positive return on equity of 7.82%. The company had revenue of $49.69 billion for the quarter, compared to analyst estimates of $47.50 billion. During the same period last year, the firm earned $1.62 earnings per share. The firm’s revenue was up 18.2% on a year-over-year basis. As a group, analysts anticipate that Centene Corporation will post 6.86 earnings per share for the current fiscal year.

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.