Xponance Inc. Has $6.31 Million Holdings in Centene Co. (NYSE:CNC)

Xponance Inc. cut its holdings in shares of Centene Co. (NYSE:CNC) by 3.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 95,196 shares of the company’s stock after selling 3,720 shares during the quarter. Xponance Inc.’s holdings in Centene were worth $6,311,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CNC. Rise Advisors LLC acquired a new position in shares of Centene during the first quarter worth approximately $25,000. WR Wealth Planners LLC lifted its holdings in shares of Centene by 41.4% during the second quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock worth $31,000 after buying an additional 137 shares during the last quarter. Chris Bulman Inc acquired a new position in shares of Centene during the second quarter worth approximately $33,000. Riverview Trust Co raised its stake in shares of Centene by 154.6% in the second quarter. Riverview Trust Co now owns 527 shares of the company’s stock valued at $35,000 after purchasing an additional 320 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Centene in the second quarter valued at $36,000. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. StockNews.com upgraded Centene from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Jefferies Financial Group lowered Centene from a “buy” rating to a “hold” rating and cut their target price for the company from $83.00 to $69.00 in a research note on Wednesday, July 24th. Truist Financial cut their target price on Centene from $92.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Barclays cut their target price on Centene from $98.00 to $97.00 and set an “overweight” rating for the company in a research note on Thursday, September 5th. Finally, Oppenheimer lowered their price target on Centene from $110.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, July 29th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Centene currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.58.

Centene Price Performance

Centene stock opened at $74.42 on Wednesday. The business’s 50-day simple moving average is $74.78 and its 200 day simple moving average is $73.40. The stock has a market cap of $39.71 billion, a price-to-earnings ratio of 14.80, a P/E/G ratio of 0.99 and a beta of 0.48. Centene Co. has a 12-month low of $63.45 and a 12-month high of $81.42. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.64.

Centene (NYSE:CNC) last posted its quarterly earnings results on Friday, July 26th. The company reported $2.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.02). The firm had revenue of $39.84 billion during the quarter, compared to the consensus estimate of $36.83 billion. Centene had a net margin of 1.79% and a return on equity of 14.45%. Centene’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.10 EPS. As a group, research analysts anticipate that Centene Co. will post 6.82 earnings per share for the current year.

About Centene

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.