Integrity Alliance LLC. Buys 20,443 Shares of Centene Corporation $CNC

Key Points

• Integrity Alliance LLC initiated a Centene position, buying 20,443 shares valued at approximately $1.27 million in the third quarter. Institutional investors collectively own 93.63% of the company.
• Analysts’ consensus rating is Hold, with an average price target of $73.80; Truist reiterated Buy and raised its target to $82.
• Centene reported quarterly EPS of $0.58, beating the $0.10 consensus, and revenue of $50.65 billion versus expectations of $47.12 billion.

Integrity Alliance LLC. purchased a new stake in Centene Corporation (NYSE:CNC - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,443 shares of the company's stock, valued at approximately $1,270,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Frank Rimerman Advisors LLC boosted its position in shares of Centene by 3.7% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 4,521 shares of the company's stock worth $281,000 after buying an additional 163 shares in the last quarter. Journey Retirement Planning & Investment Management LLC grew its stake in Centene by 3.9% in the 3rd quarter. Journey Retirement Planning & Investment Management LLC now owns 4,652 shares of the company's stock valued at $289,000 after acquiring an additional 175 shares during the last quarter. 180 Wealth Advisors LLC increased its holdings in Centene by 3.1% during 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 in the last quarter. Grove Bank & Trust raised its position in Centene by 2.0% during the third quarter. Grove Bank & Trust now owns 11,294 shares of the company's stock worth $702,000 after acquiring an additional 220 shares during the last quarter. Finally, GoalVest Advisory LLC raised its position in Centene by 25.9% during the third quarter. GoalVest Advisory LLC now owns 1,122 shares of the company's stock worth $70,000 after acquiring an additional 231 shares during the last quarter. Institutional investors and hedge funds own 93.63% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Truist Financial reiterated a "buy" rating and issued a $82.00 price target (up from $80.00) on shares of Centene in a research report on Monday. Raymond James Financial set a $79.00 price objective on Centene in a research report on Wednesday, October 28th. Robert W. Baird upped their target price on Centene from $66.00 to $71.00 and gave the company a "neutral" rating in a research note on Wednesday, October 28th. JPMorgan Chase & Co. increased their target price on Centene from $67.00 to $75.00 and gave the company a "neutral" rating in a report on Thursday, October 29th. Finally, Wells Fargo & Company raised their price target on Centene from $69.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Friday, October 30th. Nine equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $73.80.

Insider Buying and Selling

In other Centene news, General Counsel Christopher Koster sold 56,500 shares of the business's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $66.90, for a total value of $3,779,850.00. Following the completion of the transaction, the general counsel directly owned 248,854 shares in the company, valued at approximately $16,648,332.60. The trade was a 18.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.37% of the company's stock.

Centene Stock Performance

Shares of NYSE CNC opened at $73.96 on Friday. The company has a market cap of $36.61 billion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 0.45 and a beta of 1.07. Centene Corporation has a 12 month low of $31.63 and a 12 month high of $78.08. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.16 and a quick ratio of 1.16. The company has a 50-day simple moving average of $66.55 and a 200-day simple moving average of $55.76.

Centene (NYSE:CNC - Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.48. The business had revenue of $50.65 billion for the quarter, compared to the consensus estimate of $47.12 billion. Centene had a net margin of 0.72% and a return on equity of 12.15%. The company's quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.50 earnings per share. On average, equities analysts anticipate that Centene Corporation will post 5.26 earnings per share for the current year.

About Centene

Centene Corporation is a diversified healthcare enterprise that provides government-sponsored and commercial health insurance programs and related healthcare services. The company's offerings are primarily focused on Medicaid, Medicare, and health insurance marketplace plans, with an emphasis on serving individuals and families who may have limited access to traditional healthcare coverage.

Centene operates Medicaid health plans through state-based contracts and offers Medicare Advantage, Medicare prescription drug, and Medicare Supplement products through its Wellcare brand.

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