Nisa Investment Advisors LLC Increases Stock Holdings in Centene Corporation $CNC

Nisa Investment Advisors LLC increased its holdings in shares of Centene Corporation (NYSE:CNC) by 6.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 202,825 shares of the company’s stock after buying an additional 11,747 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Centene were worth $7,237,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Centene during the 2nd quarter valued at about $1,435,997,000. Worldquant Millennium Advisors LLC purchased a new stake in Centene in the second quarter valued at approximately $65,105,000. Vanguard Group Inc. increased its position in Centene by 1.5% during the second quarter. Vanguard Group Inc. now owns 58,396,605 shares of the company’s stock worth $3,169,768,000 after purchasing an additional 869,706 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Centene during the second quarter worth approximately $40,471,000. Finally, Ninety One UK Ltd acquired a new position in shares of Centene in the 3rd quarter valued at $23,378,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Mizuho set a $47.00 price objective on Centene in a report on Friday. Robert W. Baird upped their price target on Centene from $28.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Wells Fargo & Company set a $43.00 price objective on Centene and gave the stock an “equal weight” rating in a report on Wednesday. Morgan Stanley increased their target price on shares of Centene from $28.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 14th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $45.00 price target on shares of Centene in a research report on Thursday, October 30th. Three investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $40.38.

Centene Price Performance

CNC stock opened at $46.58 on Friday. The stock has a 50-day simple moving average of $39.17 and a 200-day simple moving average of $34.95. The firm has a market cap of $22.90 billion, a P/E ratio of -4.31, a price-to-earnings-growth ratio of 1.06 and a beta of 0.48. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.08 and a current ratio of 1.08. Centene Corporation has a 1 year low of $25.08 and a 1 year high of $66.81.

Centene (NYSE:CNC) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.71. The firm had revenue of $49.69 billion during the quarter, compared to analysts’ expectations of $47.50 billion. Centene had a positive return on equity of 7.82% and a negative net margin of 2.85%.Centene’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.62 EPS. On average, equities analysts predict that Centene Corporation will post 6.86 earnings per share for the current fiscal year.

About Centene

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.