Jefferies Financial Group Inc. Has $2.97 Million Stock Holdings in Centene Corporation $CNC

Jefferies Financial Group Inc. decreased its holdings in Centene Corporation (NYSE:CNC) by 31.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,195 shares of the company’s stock after selling 32,710 shares during the period. Jefferies Financial Group Inc.’s holdings in Centene were worth $2,971,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Addison Advisors LLC raised its stake in Centene by 455.6% in the third quarter. Addison Advisors LLC now owns 739 shares of the company’s stock valued at $26,000 after buying an additional 606 shares during the period. SBI Securities Co. Ltd. raised its stake in Centene by 118.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock valued at $31,000 after buying an additional 406 shares during the period. GoalVest Advisory LLC bought a new stake in Centene in the fourth quarter valued at approximately $37,000. Union Bancaire Privee UBP SA bought a new stake in Centene in the fourth quarter valued at approximately $37,000. Finally, Elyxium Wealth LLC bought a new stake in Centene in the fourth quarter valued at approximately $41,000. Institutional investors own 93.63% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. UBS Group restated a “neutral” rating and issued a $61.00 price objective (up from $55.00) on shares of Centene in a research note on Friday. Zacks Research upgraded Centene from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. Weiss Ratings restated a “sell (d)” rating on shares of Centene in a research note on Monday, April 20th. Sanford C. Bernstein increased their target price on Centene from $48.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Finally, Barclays increased their target price on Centene from $63.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $57.65.

Centene Price Performance

Shares of NYSE CNC opened at $57.19 on Wednesday. The firm has a market cap of $28.24 billion, a P/E ratio of -4.35, a price-to-earnings-growth ratio of 0.46 and a beta of 1.06. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.76. Centene Corporation has a 1-year low of $25.08 and a 1-year high of $60.76. The business’s 50 day moving average is $44.01 and its 200-day moving average is $41.99.

Centene (NYSE:CNC) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $1.14. The business had revenue of $49.94 billion for the quarter, compared to the consensus estimate of $47.53 billion. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.90 earnings per share. Equities research analysts predict that Centene Corporation will post 3.45 earnings per share for the current year.

Centene Company Profile

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.