Twin Capital Management Inc. Boosts Position in Centene Corporation $CNC

Twin Capital Management Inc. grew its stake in Centene Corporation (NYSE:CNC) by 35.6% during the second quarter, Holdings Channel.com reports. The fund owned 19,869 shares of the company’s stock after purchasing an additional 5,217 shares during the quarter. Twin Capital Management Inc.’s holdings in Centene were worth $1,078,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Quadcap Wealth Management LLC grew its stake in Centene by 3.2% in the first quarter. Quadcap Wealth Management LLC now owns 5,617 shares of the company’s stock worth $341,000 after purchasing an additional 172 shares in the last quarter. Poinciana Advisors Group LLC grew its position in shares of Centene by 2.8% during the 1st quarter. Poinciana Advisors Group LLC now owns 7,221 shares of the company’s stock worth $438,000 after buying an additional 195 shares in the last quarter. Carnegie Investment Counsel raised its holdings in shares of Centene by 6.0% in the first quarter. Carnegie Investment Counsel now owns 3,811 shares of the company’s stock valued at $234,000 after acquiring an additional 215 shares in the last quarter. Allworth Financial LP grew its holdings in Centene by 6.1% during the 1st quarter. Allworth Financial LP now owns 4,387 shares of the company’s stock worth $270,000 after acquiring an additional 254 shares in the last quarter. Finally, Grove Bank & Trust raised its holdings in shares of Centene by 2.8% in the 2nd quarter. Grove Bank & Trust now owns 11,632 shares of the company’s stock valued at $631,000 after purchasing an additional 313 shares in the last quarter. Institutional investors own 93.63% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Wall Street Zen downgraded shares of Centene from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. Weiss Ratings restated a “sell (d)” rating on shares of Centene in a research note on Wednesday, October 8th. TD Cowen boosted their target price on shares of Centene from $30.00 to $34.00 and gave the stock a “hold” rating in a report on Friday, October 31st. Oppenheimer reissued an “outperform” rating and set a $45.00 price target on shares of Centene in a research report on Thursday, October 30th. Finally, UBS Group set a $42.00 price objective on shares of Centene and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Three equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $41.53.

Centene Stock Up 0.7%

Centene stock opened at $37.08 on Friday. Centene Corporation has a fifty-two week low of $25.08 and a fifty-two week high of $66.81. The company has a market cap of $18.23 billion, a PE ratio of -3.43, a PEG ratio of 1.24 and a beta of 0.49. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.10 and a current ratio of 1.08. The business’s 50-day simple moving average is $34.16 and its two-hundred day simple moving average is $41.02.

Centene (NYSE:CNC) last issued its earnings results on Wednesday, October 29th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.71. Centene had a positive return on equity of 7.82% and a negative net margin of 2.85%.The firm had revenue of $49.69 billion for the quarter, compared to analyst estimates of $47.50 billion. During the same quarter in the prior year, the firm earned $1.62 earnings per share. Centene’s revenue for the quarter was up 18.2% on a year-over-year basis. Equities analysts anticipate that Centene Corporation will post 6.86 EPS for the current year.

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.