Prana Capital Management LP Makes New Investment in Centene Co. (NYSE:CNC)

Prana Capital Management LP acquired a new stake in Centene Co. (NYSE:CNC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 9,160 shares of the company's stock, valued at approximately $555,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Stratos Wealth Partners LTD. boosted its holdings in Centene by 4.1% in the 4th quarter. Stratos Wealth Partners LTD. now owns 4,094 shares of the company's stock valued at $248,000 after purchasing an additional 163 shares in the last quarter. Capital Advisors Ltd. LLC boosted its holdings in Centene by 75.3% in the 4th quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company's stock valued at $25,000 after purchasing an additional 177 shares in the last quarter. Private Trust Co. NA boosted its holdings in Centene by 23.7% in the 4th quarter. Private Trust Co. NA now owns 956 shares of the company's stock valued at $58,000 after purchasing an additional 183 shares in the last quarter. Howard Capital Management Inc. boosted its holdings in Centene by 5.4% in the 4th quarter. Howard Capital Management Inc. now owns 3,591 shares of the company's stock valued at $218,000 after purchasing an additional 184 shares in the last quarter. Finally, Intellectus Partners LLC boosted its holdings in Centene by 2.8% in the 4th quarter. Intellectus Partners LLC now owns 7,224 shares of the company's stock valued at $438,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 93.63% of the company's stock.

Centene Trading Up 2.9%

Shares of NYSE CNC traded up $1.72 during trading on Friday, hitting $61.78. 4,368,389 shares of the company traded hands, compared to its average volume of 4,868,414. Centene Co. has a 1 year low of $55.03 and a 1 year high of $80.59. The company has a 50-day moving average price of $60.66 and a 200-day moving average price of $60.45. The firm has a market capitalization of $30.74 billion, a P/E ratio of 9.90, a P/E/G ratio of 0.80 and a beta of 0.48. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.70.

Centene (NYSE:CNC - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The company reported $2.90 earnings per share for the quarter, topping analysts' consensus estimates of $2.52 by $0.38. Centene had a net margin of 2.03% and a return on equity of 13.85%. The firm had revenue of $46.62 billion during the quarter, compared to analysts' expectations of $43.16 billion. During the same period in the prior year, the company earned $2.26 EPS. The firm's revenue was up 15.4% on a year-over-year basis. On average, equities analysts predict that Centene Co. will post 6.86 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CNC shares. Guggenheim reaffirmed a "neutral" rating on shares of Centene in a report on Tuesday, April 29th. StockNews.com downgraded shares of Centene from a "strong-buy" rating to a "buy" rating in a research report on Monday, April 28th. Jefferies Financial Group reduced their price target on shares of Centene from $64.00 to $61.00 and set a "hold" rating for the company in a research report on Tuesday, April 29th. Barclays reduced their price target on shares of Centene from $93.00 to $84.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Finally, Wells Fargo & Company reduced their price target on shares of Centene from $76.00 to $72.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $79.77.

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.