Factorial Partners LLC Has $3.75 Million Position in Centene Corporation $CNC

Factorial Partners LLC decreased its position in shares of Centene Corporation (NYSE:CNC) by 4.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,000 shares of the company’s stock after selling 3,000 shares during the period. Centene comprises 2.7% of Factorial Partners LLC’s holdings, making the stock its 13th largest holding. Factorial Partners LLC’s holdings in Centene were worth $3,745,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CNC. Quarry LP bought a new position in shares of Centene in the 1st quarter valued at $26,000. Assetmark Inc. boosted its stake in Centene by 248.2% in the second quarter. Assetmark Inc. now owns 1,156 shares of the company’s stock valued at $63,000 after buying an additional 824 shares in the last quarter. GHP Investment Advisors Inc. grew its position in Centene by 265.8% in the second quarter. GHP Investment Advisors Inc. now owns 1,178 shares of the company’s stock valued at $64,000 after acquiring an additional 856 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new position in Centene during the second quarter worth about $76,000. Finally, Trust Co. of Toledo NA OH acquired a new stake in shares of Centene in the 2nd quarter valued at approximately $77,000. 93.63% of the stock is currently owned by institutional investors.

Centene Stock Performance

Shares of CNC stock opened at $37.08 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.08 and a quick ratio of 1.10. Centene Corporation has a one year low of $25.08 and a one year high of $66.81. The business’s 50 day simple moving average is $35.14 and its 200 day simple moving average is $39.60. The stock has a market capitalization of $18.22 billion, a PE ratio of -3.43, a PEG ratio of 1.24 and a beta of 0.49.

Centene (NYSE:CNC) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $49.69 billion for the quarter, compared to the consensus estimate of $47.50 billion. During the same quarter in the previous year, the company earned $1.62 EPS. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. As a group, research analysts forecast that Centene Corporation will post 6.86 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CNC shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Centene in a research report on Wednesday, October 8th. Cantor Fitzgerald upped their price target on shares of Centene from $38.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Sanford C. Bernstein reissued an “outperform” rating on shares of Centene in a report on Wednesday, October 29th. UBS Group set a $42.00 target price on Centene and gave the stock a “neutral” rating in a report on Thursday, October 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Centene from $24.00 to $32.00 in a research note on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Centene currently has an average rating of “Hold” and a consensus price target of $39.47.

About Centene

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.