Chicago Partners Investment Group LLC Makes New $570,000 Investment in Centene Co. (NYSE:CNC)

Chicago Partners Investment Group LLC purchased a new stake in Centene Co. (NYSE:CNC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,019 shares of the company's stock, valued at approximately $570,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Park Place Capital Corp grew its position in shares of Centene by 1,190.0% during the 3rd quarter. Park Place Capital Corp now owns 387 shares of the company's stock worth $29,000 after buying an additional 357 shares during the period. Private Trust Co. NA raised its holdings in shares of Centene by 75.3% during the third quarter. Private Trust Co. NA now owns 773 shares of the company's stock valued at $58,000 after purchasing an additional 332 shares during the period. True Wealth Design LLC bought a new position in shares of Centene during the 3rd quarter worth about $66,000. R Squared Ltd acquired a new stake in shares of Centene in the 4th quarter valued at about $82,000. Finally, Venturi Wealth Management LLC raised its stake 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 buying an additional 507 shares during the period. 93.63% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Centene

In other news, Director Thomas Greco bought 17,000 shares of the firm's stock in a transaction that occurred on Wednesday, December 18th. The shares were acquired 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 approximately $1,153,712.75. The trade was a 736.25 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Andrew Lynn Asher purchased 17,200 shares of Centene stock in a transaction dated Wednesday, November 13th. The shares were purchased at an average price of $58.14 per share, with a total value of $1,000,008.00. Following the completion of the transaction, the chief financial officer now directly owns 486,847 shares in the company, valued at approximately $28,305,284.58. This represents a 3.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 40,893 shares of company stock worth $2,409,962. 0.29% of the stock is owned by corporate insiders.

Centene Stock Performance

Shares of NYSE CNC traded up $0.32 during mid-day trading on Friday, reaching $58.95. 3,382,215 shares of the company's stock were exchanged, compared to its average volume of 4,434,116. The firm has a market capitalization of $29.76 billion, a price-to-earnings ratio of 10.23, a price-to-earnings-growth ratio of 0.85 and a beta of 0.45. The firm has a 50-day moving average price of $61.25 and a two-hundred day moving average price of $67.00. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10. Centene Co. has a 52 week low of $55.03 and a 52 week high of $81.42.

Centene (NYSE:CNC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.31. Centene had a return on equity of 13.32% and a net margin of 1.90%. 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 earned $0.45 earnings per share. Centene's revenue was up 3.4% compared to the same quarter last year. Analysts predict that Centene Co. will post 6.82 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CNC. Sanford C. Bernstein lowered their target price on Centene from $96.00 to $88.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 30th. Oppenheimer dropped their price objective on shares of Centene from $95.00 to $85.00 and set an "outperform" rating on the stock in a research note on Friday, December 13th. UBS Group raised shares of Centene from a "neutral" rating to a "buy" rating and raised their price target for the company from $79.00 to $80.00 in a research report on Friday, December 13th. StockNews.com lowered Centene from a "strong-buy" rating to a "buy" rating in a report on Thursday. Finally, Truist Financial dropped their target price on Centene from $89.00 to $84.00 and set a "buy" rating on the stock in a report on Friday, December 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Centene has a consensus rating of "Moderate Buy" and a consensus target price of $81.31.

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.