Norden Group LLC Has $728,000 Position in Centene Co. (NYSE:CNC)

Norden Group LLC boosted its position in shares of Centene Co. (NYSE:CNC) by 36.1% in the 4th quarter, HoldingsChannel reports. The firm owned 12,017 shares of the company’s stock after buying an additional 3,187 shares during the period. Norden Group LLC’s holdings in Centene were worth $728,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. lifted its holdings in Centene by 4.1% during the 4th quarter. Stratos Wealth Partners LTD. now owns 4,094 shares of the company’s stock valued at $248,000 after purchasing an additional 163 shares during the last quarter. Capital Advisors Ltd. LLC raised its position in Centene by 75.3% in the 4th quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company’s stock worth $25,000 after purchasing an additional 177 shares during the last quarter. Private Trust Co. NA lifted its holdings in Centene by 23.7% during the 4th quarter. Private Trust Co. NA now owns 956 shares of the company’s stock worth $58,000 after buying an additional 183 shares in the last quarter. Howard Capital Management Inc. increased its stake in shares of Centene by 5.4% in the 4th quarter. Howard Capital Management Inc. now owns 3,591 shares of the company’s stock valued at $218,000 after buying an additional 184 shares during the period. Finally, Aptus Capital Advisors LLC raised its position in shares of Centene by 6.2% during the third quarter. Aptus Capital Advisors LLC now owns 3,722 shares of the company’s stock worth $280,000 after acquiring an additional 217 shares during the last quarter. 93.63% of the stock is owned by institutional investors.

Insider Buying and Selling at Centene

In other news, Director Theodore R. Samuels II bought 5,000 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was bought at an average price of $58.86 per share, with a total value of $294,300.00. Following the completion of the acquisition, the director now owns 23,000 shares of the company’s stock, valued at $1,353,780. This represents a 27.78 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director H James Dallas bought 1,693 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were purchased at an average cost of $59.01 per share, with a total value of $99,903.93. Following the acquisition, the director now directly owns 1,693 shares of the company’s stock, valued at approximately $99,903.93. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders acquired 23,693 shares of company stock valued at $1,409,954 in the last quarter. 0.33% of the stock is currently owned by insiders.

Centene Price Performance

Shares of CNC opened at $58.65 on Tuesday. The company has a 50 day moving average of $60.95 and a 200-day moving average of $64.96. Centene Co. has a twelve month low of $55.03 and a twelve month high of $80.59. The stock has a market capitalization of $29.09 billion, a P/E ratio of 9.40, a P/E/G ratio of 0.80 and a beta of 0.45. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.70.

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 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 the consensus estimate of $38.78 billion. During the same quarter last year, the firm posted $0.45 EPS. The company’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts forecast that Centene Co. will post 6.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CNC has been the subject of a number of research reports. Oppenheimer lowered their price objective on Centene from $95.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, December 13th. Truist Financial cut their target price on shares of Centene from $89.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Barclays increased their price target on shares of Centene from $91.00 to $93.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price target on shares of Centene in a research report on Wednesday, December 11th. Finally, Jefferies Financial Group cut Centene from a “hold” rating to an “underperform” rating and lowered their target price for the stock from $68.00 to $52.00 in a research note on Tuesday, December 10th. One research 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $79.92.

Centene 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.