C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Acquires Shares of 2,757 Centene Co. (NYSE:CNC)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Centene Co. (NYSE:CNC) in the fourth quarter, Holdings Channel reports. The fund acquired 2,757 shares of the company’s stock, valued at approximately $167,000.

Other institutional investors have also recently bought and sold shares of the company. Private Trust Co. NA boosted its holdings in Centene by 75.3% in the 3rd quarter. Private Trust Co. NA now owns 773 shares of the company’s stock valued at $58,000 after purchasing an additional 332 shares during the period. True Wealth Design LLC bought a new stake in Centene in the 3rd quarter valued at about $66,000. Venturi Wealth Management LLC boosted its holdings in Centene by 77.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,163 shares of the company’s stock valued at $88,000 after purchasing an additional 507 shares during the period. Cromwell Holdings LLC lifted its holdings in shares of Centene by 588.0% during the 3rd quarter. Cromwell Holdings LLC now owns 1,266 shares of the company’s stock worth $95,000 after acquiring an additional 1,082 shares during the period. Finally, R Squared Ltd bought a new stake in shares of Centene during the 4th quarter worth approximately $82,000. Institutional investors own 93.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price target on shares of Centene in a report on Wednesday, December 11th. UBS Group raised shares of Centene from a “neutral” rating to a “buy” rating and upped their price target for the stock from $79.00 to $80.00 in a report on Friday, December 13th. Truist Financial cut their price target on shares of Centene from $89.00 to $84.00 and set a “buy” rating for the company in a report on Friday, December 13th. Stephens cut their price target on shares of Centene from $75.00 to $73.00 and set an “equal weight” rating for the company in a report on Friday, December 13th. Finally, Oppenheimer lowered their price objective on shares of Centene from $95.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $79.92.

Insider Transactions at Centene

In other news, Director Thomas Greco acquired 17,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was bought at an average cost of $59.75 per share, for a total transaction of $1,015,750.00. Following the completion of the transaction, the director now directly owns 19,309 shares in the company, valued at $1,153,712.75. This represents a 736.25 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director H James Dallas acquired 1,693 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were purchased at an average price of $59.01 per share, with a total value of $99,903.93. Following the completion of the transaction, the director now owns 1,693 shares of the company’s stock, valued at $99,903.93. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 23,693 shares of company stock worth $1,409,954 over the last three months. 0.33% of the stock is owned by company insiders.

Centene Trading Up 0.1 %

Shares of NYSE CNC opened at $56.87 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 1.11. Centene Co. has a 52-week low of $55.03 and a 52-week high of $81.42. The firm has a 50 day moving average price of $61.08 and a two-hundred day moving average price of $66.66. The stock has a market cap of $28.71 billion, a P/E ratio of 9.11, a price-to-earnings-growth ratio of 0.79 and a beta of 0.45.

Centene (NYSE:CNC) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.31. Centene had a net margin of 2.03% and a return on equity of 13.85%. The firm had revenue of $40.81 billion during the quarter, compared to analysts’ expectations of $38.78 billion. During the same period in the prior year, the company posted $0.45 EPS. The company’s revenue was up 3.4% on a year-over-year basis. As a group, equities analysts forecast that Centene Co. will post 6.97 EPS for the current 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.