Rockefeller Capital Management L.P. Acquires 13,107 Shares of Centene Corporation $CNC

Rockefeller Capital Management L.P. raised its holdings in Centene Corporation (NYSE:CNC) by 248.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,383 shares of the company’s stock after acquiring an additional 13,107 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Centene were worth $756,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CNC. Kestra Advisory Services LLC lifted its stake in shares of Centene by 0.5% in the 4th quarter. Kestra Advisory Services LLC now owns 52,602 shares of the company’s stock valued at $2,165,000 after purchasing an additional 264 shares during the period. Arkadios Wealth Advisors grew its stake in shares of Centene by 4.2% during the fourth quarter. Arkadios Wealth Advisors now owns 7,465 shares of the company’s stock worth $307,000 after purchasing an additional 300 shares during the period. Affinity Investment Advisors LLC increased its holdings in Centene by 3.0% in the fourth quarter. Affinity Investment Advisors LLC now owns 10,927 shares of the company’s stock valued at $450,000 after purchasing an additional 316 shares during the last quarter. Prime Capital Investment Advisors LLC increased its holdings in Centene by 5.7% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 5,975 shares of the company’s stock valued at $246,000 after purchasing an additional 324 shares during the last quarter. Finally, Burney Co. lifted its stake in Centene by 3.8% in the fourth quarter. Burney Co. now owns 9,053 shares of the company’s stock valued at $373,000 after buying an additional 331 shares during the period. Institutional investors and hedge funds own 93.63% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. UBS Group restated a “neutral” rating and set a $61.00 target price (up from $55.00) on shares of Centene in a research report on Friday, May 22nd. Robert W. Baird lifted their price objective on shares of Centene from $36.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 15th. TD Cowen restated a “hold” rating and set a $47.00 price objective (up from $38.00) on shares of Centene in a report on Monday, May 4th. Royal Bank Of Canada started coverage on shares of Centene in a research note on Tuesday, June 23rd. They issued a “sector perform” rating and a $70.00 target price for the company. Finally, Raymond James Financial set a $60.00 target price on shares of Centene in a report on Wednesday, April 29th. Seven analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Centene presently has a consensus rating of “Hold” and a consensus price target of $60.78.

Centene Trading Down 0.1%

NYSE CNC opened at $67.80 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.12 and a quick ratio of 1.12. The stock’s 50-day moving average is $59.46 and its 200-day moving average is $46.95. Centene Corporation has a one year low of $25.08 and a one year high of $69.29. The firm has a market cap of $33.48 billion, a P/E ratio of -5.16, a P/E/G ratio of 0.53 and a beta of 1.07.

Centene (NYSE:CNC) last announced its earnings results on Tuesday, April 28th. The company reported $3.37 EPS for the quarter, topping the consensus estimate of $2.23 by $1.14. Centene had a negative net margin of 3.25% and a positive return on equity of 5.57%. The firm had revenue of $49.94 billion for the quarter, compared to the consensus estimate of $47.53 billion. During the same period last year, the company posted $2.90 EPS. The business’s quarterly revenue was up 7.1% on a year-over-year basis. Sell-side analysts anticipate that Centene Corporation will post 3.44 earnings per share for the current fiscal 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.