Factorial Partners LLC Purchases New Holdings in Centene Co. (NYSE:CNC)

Factorial Partners LLC acquired a new position in shares of Centene Co. (NYSE:CNC) in the fourth quarter, Holdings Channel reports. The fund acquired 53,500 shares of the company’s stock, valued at approximately $3,241,000. Centene comprises 1.9% of Factorial Partners LLC’s investment portfolio, making the stock its 22nd largest position.

A number of other institutional investors have also modified their holdings of the stock. Capital Advisors Ltd. LLC lifted its holdings in shares of Centene by 75.3% during the fourth quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company’s stock worth $25,000 after purchasing an additional 177 shares during the period. Private Trust Co. NA boosted its holdings in shares of Centene by 75.3% in the third quarter. Private Trust Co. NA now owns 773 shares of the company’s stock valued at $58,000 after acquiring an additional 332 shares in the last quarter. True Wealth Design LLC acquired a new position in shares of Centene during the third quarter worth about $66,000. R Squared Ltd purchased a new position in Centene during the fourth quarter worth about $82,000. Finally, Venturi Wealth Management LLC lifted its position in Centene by 77.3% in the third quarter. Venturi Wealth Management LLC now owns 1,163 shares of the company’s stock valued at $88,000 after purchasing an additional 507 shares during the period. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Performance

NYSE:CNC opened at $58.06 on Friday. 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 Co. has a fifty-two week low of $55.03 and a fifty-two week high of $80.59. The firm’s 50 day moving average is $60.98 and its two-hundred day moving average is $65.26. The company has a market cap of $28.80 billion, a P/E ratio of 9.30, a P/E/G ratio of 0.80 and a beta of 0.45.

Centene (NYSE:CNC) last released its earnings results on Tuesday, February 4th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.49 by $0.31. The company had revenue of $40.81 billion during the quarter, compared to analysts’ expectations of $38.78 billion. Centene had a return on equity of 13.85% and a net margin of 2.03%. The business’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 EPS. Analysts expect that Centene Co. will post 6.86 EPS for the current year.

Insider Transactions at Centene

In other Centene news, Director H James Dallas bought 1,693 shares of the stock in a transaction on Monday, December 16th. The stock was purchased at an average price of $59.01 per share, for a total transaction of $99,903.93. Following the completion of the purchase, the director now directly owns 1,693 shares in the company, valued at approximately $99,903.93. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Theodore R. Samuels II purchased 5,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was acquired at an average cost of $58.86 per share, with a total value of $294,300.00. Following the completion of the acquisition, the director now directly owns 23,000 shares in the company, valued at approximately $1,353,780. This trade represents a 27.78 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 23,693 shares of company stock valued at $1,409,954. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CNC shares. Wells Fargo & Company cut their target price on Centene from $76.00 to $72.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Barclays increased their price objective on Centene from $91.00 to $93.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 target price on shares of Centene in a research report on Wednesday, December 11th. Jefferies Financial Group cut shares of Centene from a “hold” rating to an “underperform” rating and reduced their price objective for the company from $68.00 to $52.00 in a research note on Tuesday, December 10th. Finally, Robert W. Baird upped their target price on shares of Centene from $66.00 to $71.00 in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $79.92.

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.