New Age Alpha Advisors LLC Increases Stake in Centene Corporation $CNC

by · The Cerbat Gem

New Age Alpha Advisors LLC lifted its stake in Centene Corporation (NYSE:CNC – Free Report) by 35.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 72,137 shares of the company’s stock after acquiring an additional 18,799 shares during the period. New Age Alpha Advisors LLC’s holdings in Centene were worth $2,968,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Addison Advisors LLC raised its position in shares of Centene by 455.6% in the 3rd quarter. Addison Advisors LLC now owns 739 shares of the company’s stock valued at $26,000 after purchasing an additional 606 shares during the last quarter. SBI Securities Co. Ltd. raised its position in Centene by 118.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock worth $31,000 after buying an additional 406 shares during the last quarter. GoalVest Advisory LLC purchased a new position in Centene during the 4th quarter worth approximately $37,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Centene in the 4th quarter valued at $37,000. Finally, Elyxium Wealth LLC purchased a new stake in shares of Centene in the 4th quarter valued at $41,000. 93.63% of the stock is owned by hedge funds and other institutional investors.

Centene Trading Down 3.3%

Shares of NYSE:CNC opened at $57.19 on Wednesday. Centene Corporation has a 12-month low of $25.08 and a 12-month high of $60.76. The company has a market capitalization of $28.24 billion, a PE ratio of -4.35, a PEG ratio of 0.46 and a beta of 1.06. The business has a 50 day moving average of $44.01 and a two-hundred day moving average of $41.99. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.76.

Centene (NYSE:CNC – Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $1.14. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.The company had revenue of $49.94 billion during the quarter, compared to the consensus estimate of $47.53 billion. During the same period in the previous year, the company posted $2.90 earnings per share. Centene’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, analysts forecast that Centene Corporation will post 3.45 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Truist Financial upped their price objective on shares of Centene from $49.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. UBS Group reaffirmed a “neutral” rating and issued a $61.00 price objective (up from $55.00) on shares of Centene in a report on Friday. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $40.00 price objective on shares of Centene in a report on Wednesday, April 29th. Morgan Stanley upped their price objective on shares of Centene from $45.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday, April 29th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $58.00 price objective (up from $45.00) on shares of Centene in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $57.65.

Get Our Latest Analysis on Centene

Centene Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding CNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Centene Corporation (NYSE:CNC – Free Report).