Pallas Capital Advisors LLC Raises Stock Holdings in Centene Co. (NYSE:CNC)

Pallas Capital Advisors LLC boosted its holdings in shares of Centene Co. (NYSE:CNC) by 152.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,687 shares of the company’s stock after acquiring an additional 7,049 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Centene were worth $880,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CNC. Park Place Capital Corp grew its holdings in shares of Centene by 1,190.0% in the third quarter. Park Place Capital Corp now owns 387 shares of the company’s stock worth $29,000 after purchasing an additional 357 shares during the last quarter. WR Wealth Planners LLC raised its stake in shares of Centene by 41.4% during the second quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock valued at $31,000 after acquiring an additional 137 shares in the last quarter. Chris Bulman Inc bought a new position in Centene in the second quarter worth approximately $33,000. Riverview Trust Co increased its holdings in Centene by 154.6% during the 2nd quarter. Riverview Trust Co now owns 527 shares of the company’s stock worth $35,000 after purchasing an additional 320 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Centene during the 2nd quarter valued at $36,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene Price Performance

Shares of NYSE CNC opened at $61.77 on Thursday. Centene Co. has a fifty-two week low of $59.77 and a fifty-two week high of $81.42. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market cap of $32.96 billion, a PE ratio of 12.28, a P/E/G ratio of 0.98 and a beta of 0.48. The business has a 50-day simple moving average of $71.87 and a two-hundred day simple moving average of $72.09.

Wall Street Analyst Weigh In

CNC has been the topic of a number of recent research reports. TD Cowen increased their price target on Centene from $80.00 to $89.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Oppenheimer cut their target price on shares of Centene from $110.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, July 29th. Truist Financial dropped their price objective on shares of Centene from $92.00 to $89.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Finally, StockNews.com downgraded Centene from a “strong-buy” rating to a “buy” rating in a report on Monday. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Centene has a consensus rating of “Moderate Buy” and a consensus price target of $84.00.

Centene Company 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.