CIBC Asset Management Inc Has $4.71 Million Position in Centene Co. (NYSE:CNC)

CIBC Asset Management Inc grew its holdings in shares of Centene Co. (NYSE:CNC) by 1.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 77,798 shares of the company’s stock after acquiring an additional 905 shares during the quarter. CIBC Asset Management Inc’s holdings in Centene were worth $4,713,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CNC. Private Trust Co. NA grew its holdings in Centene by 75.3% during the 3rd quarter. Private Trust Co. NA now owns 773 shares of the company’s stock worth $58,000 after acquiring an additional 332 shares during the period. True Wealth Design LLC acquired a new stake in Centene during the 3rd quarter worth about $66,000. R Squared Ltd acquired a new stake in Centene during the 4th quarter worth about $82,000. Venturi Wealth Management LLC grew its holdings in Centene by 77.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,163 shares of the company’s stock worth $88,000 after acquiring an additional 507 shares during the period. Finally, Cromwell Holdings LLC grew its holdings in 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. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Price Performance

Centene stock opened at $57.81 on Thursday. Centene Co. has a 52 week low of $55.03 and a 52 week high of $81.42. The company’s 50 day moving average price is $61.03 and its two-hundred day moving average price is $66.09. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.70. The stock has a market cap of $29.19 billion, a P/E ratio of 9.26, a P/E/G ratio of 0.76 and a beta of 0.45.

Centene (NYSE:CNC) last posted its earnings results on Tuesday, February 4th. The company reported $0.80 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $38.78 billion. During the same quarter last year, the firm earned $0.45 EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities analysts predict that Centene Co. will post 7.01 earnings per share for the current year.

Analysts Set New Price Targets

CNC has been the subject of several research reports. Robert W. Baird raised their target price on Centene from $66.00 to $71.00 in a research note on Tuesday, February 4th. Wells Fargo & Company reduced their target price on Centene from $76.00 to $72.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. UBS Group upgraded Centene from a “neutral” rating to a “buy” rating and raised their target price for the company from $79.00 to $80.00 in a research note on Friday, December 13th. Sanford C. Bernstein reduced their target price on Centene from $96.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Finally, Truist Financial reduced their target price on Centene from $89.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Centene has an average rating of “Moderate Buy” and an average target price of $79.92.

Insiders Place Their Bets

In related news, Director Thomas Greco purchased 17,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were bought at an average price of $59.75 per share, with a total value of $1,015,750.00. Following the acquisition, the director now owns 19,309 shares of the company’s stock, valued at $1,153,712.75. This trade represents a 736.25 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director H James Dallas purchased 1,693 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was bought at an average cost of $59.01 per share, for a total transaction of $99,903.93. Following the acquisition, the director now directly owns 1,693 shares in the company, valued at $99,903.93. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 23,693 shares of company stock valued at $1,409,954 in the last 90 days. 0.29% of the stock is currently owned by corporate insiders.

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.