Centene Co. (NYSE:CNC) Shares Acquired by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI increased its holdings in Centene Co. (NYSE:CNC) by 14.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,333 shares of the company’s stock after acquiring an additional 1,467 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Centene were worth $685,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Capital Advisors Ltd. LLC lifted its stake in shares of Centene by 75.3% in the fourth quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company’s stock worth $25,000 after acquiring an additional 177 shares in the last quarter. SRS Capital Advisors Inc. increased its holdings in Centene by 73.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 631 shares of the company’s stock valued at $38,000 after buying an additional 267 shares during the last quarter. Riverview Trust Co increased its holdings in Centene by 172.7% in the fourth quarter. Riverview Trust Co now owns 758 shares of the company’s stock valued at $46,000 after buying an additional 480 shares during the last quarter. Private Trust Co. NA increased its holdings in Centene by 75.3% in the third quarter. Private Trust Co. NA now owns 773 shares of the company’s stock valued at $58,000 after buying an additional 332 shares during the last quarter. Finally, True Wealth Design LLC bought a new stake in Centene in the third quarter valued at about $66,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on CNC shares. Wells Fargo & Company lowered their price objective on Centene from $76.00 to $72.00 and set an “overweight” rating for the company in a report on Friday, February 14th. StockNews.com lowered Centene from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Jefferies Financial Group lowered Centene from a “hold” rating to an “underperform” rating and lowered their price objective for the company from $68.00 to $52.00 in a report on Tuesday, December 10th. Barclays upped their target price on Centene from $91.00 to $93.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, Truist Financial lowered their target price on Centene from $89.00 to $84.00 and set a “buy” rating for the company in a report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $79.92.

Centene Stock Performance

Shares of CNC stock opened at $57.99 on Wednesday. Centene Co. has a 12-month low of $55.03 and a 12-month high of $80.59. The firm has a market capitalization of $28.76 billion, a price-to-earnings ratio of 9.29, a price-to-earnings-growth ratio of 0.80 and a beta of 0.45. The business has a 50 day simple moving average of $60.89 and a 200 day simple moving average of $64.82. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.11 and a quick ratio of 1.10.

Centene (NYSE:CNC) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.31. Centene had a return on equity of 13.85% and a net margin of 2.03%. The business had revenue of $40.81 billion during the quarter, compared to analyst estimates of $38.78 billion. During the same period in the prior year, the company posted $0.45 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities research analysts anticipate that Centene Co. will post 6.86 EPS for the current year.

Insiders Place Their Bets

In other news, Director Theodore R. Samuels II bought 5,000 shares of the business’s stock in a transaction on Friday, December 13th. The stock was purchased at an average cost of $58.86 per share, for a total transaction of $294,300.00. Following the completion of the transaction, the director now directly owns 23,000 shares of the company’s stock, valued at approximately $1,353,780. This trade represents a 27.78 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas Greco bought 17,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was purchased at an average price of $59.75 per share, with a total value of $1,015,750.00. Following the completion of the transaction, the director now directly owns 19,309 shares of the company’s stock, valued at $1,153,712.75. This trade represents a 736.25 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 23,693 shares of company stock worth $1,409,954 over the last ninety days. Company insiders own 0.33% of the company’s stock.

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.