24,386 Shares in Centene Corporation $CNC Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI acquired a new position in shares of Centene Corporation (NYSE:CNC - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 24,386 shares of the company's stock, valued at approximately $1,565,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 180 Wealth Advisors LLC raised its stake in shares of Centene by 3.1% in the 1st quarter. 180 Wealth Advisors LLC now owns 6,683 shares of the company's stock valued at $219,000 after acquiring an additional 199 shares during the period. Summitry LLC increased its holdings in Centene by 1.1% in the 1st quarter. Summitry LLC now owns 23,925 shares of the company's stock valued at $783,000 after purchasing an additional 253 shares in the last quarter. GAMMA Investing LLC increased its holdings in Centene by 2.4% in the 2nd quarter. GAMMA Investing LLC now owns 10,674 shares of the company's stock valued at $685,000 after purchasing an additional 253 shares in the last quarter. Kestra Advisory Services LLC raised its position in Centene by 0.5% in the fourth quarter. Kestra Advisory Services LLC now owns 52,602 shares of the company's stock valued at $2,165,000 after purchasing an additional 264 shares during the period. Finally, CX Institutional boosted its position in shares of Centene by 3.1% in the second quarter. CX Institutional now owns 8,999 shares of the company's stock worth $578,000 after buying an additional 269 shares during the period. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on CNC shares. Argus raised shares of Centene from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a research report on Tuesday, August 11th. Zacks Research raised shares of Centene from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft upgraded shares of Centene from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $53.00 to $80.00 in a report on Wednesday, May 20th. JPMorgan Chase & Co. raised their target price on Centene from $60.00 to $67.00 and gave the company a "neutral" rating in a research note on Tuesday, August 4th. Finally, The Goldman Sachs Group reiterated a "sell" rating and issued a $40.00 price target on shares of Centene in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Centene presently has an average rating of "Hold" and an average price target of $70.05.

Centene Stock Performance

CNC opened at $65.29 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.71. The business's 50 day moving average is $64.96 and its 200-day moving average is $52.01. The stock has a market cap of $32.25 billion, a PE ratio of -6.25, a price-to-earnings-growth ratio of 0.36 and a beta of 1.08. Centene Corporation has a twelve month low of $28.24 and a twelve month high of $69.36.

Centene (NYSE:CNC - Get Free Report) last issued its quarterly earnings results on Monday, July 27th. The company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $1.42. Centene had a positive return on equity of 12.12% and a negative net margin of 2.51%.The company had revenue of $53.58 billion for the quarter, compared to analysts' expectations of $47.64 billion. During the same period last year, the firm earned ($0.16) EPS. The firm's revenue for the quarter was up 9.9% on a year-over-year basis. On average, analysts predict that Centene Corporation will post 4.89 earnings per share for the current year.

Centene Company Profile

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.

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