Liontrust Investment Partners LLP, a renowned investment firm, recently made a significant investment by purchasing a new stake in Centene Co. (NYSE:CNC). According to the firm’s disclosure with the Securities & Exchange Commission, Liontrust acquired 48,737 shares of Centene’s stock during the first quarter of this year. The total value of this purchase amounted to approximately $3,081,000.
Centene Corporation is a well-established healthcare enterprise operating in the United States. Their primary focus is on providing essential programs and services to under-insured and uninsured families, commercial organizations, and military families. The company operates through two distinct segments: Managed Care and Specialty Services.
Under their Managed Care segment, Centene offers comprehensive health plan coverage to individuals through various government-subsidized programs. These include Medicaid, the State children’s health insurance program, long-term services and support, foster care services, as well as medicare-medicaid plans for dually eligible individuals. Additionally, they provide specialized programs catering to aged, blind or disabled individuals.
Specialty Services form another crucial part of Centene’s business operations. Through this segment, they deliver targeted programs and services that meet the unique healthcare needs of specific populations. By focusing on specialized areas such as behavioral health management, vision services, pharmacy benefit management, and telehealth solutions amongst others, Centene aims to enhance overall access to quality care for its beneficiaries.
The recent investment made by Liontrust Investment Partners LLP reflects their confidence in Centene’s potential for growth and success in the healthcare industry. This move also aligns with their strategic investment philosophy aimed at identifying companies with solid prospects and adding them to their portfolio.
By acquiring a substantial stake in Centene Co., Liontrust recognizes the valuable contribution that the company makes towards improving healthcare accessibility for millions of Americans who may otherwise go without proper coverage. As concerns surrounding healthcare costs continue to plague many households across the nation, Centene’s commitment to offering affordable and inclusive plans has positioned them as a significant player in the industry.
This latest development may have far-reaching implications for both Liontrust Investment Partners LLP and Centene Corporation. As the investment firm seeks to diversify its portfolio and secure sustainable returns for its clients, their decision to invest in Centene highlights the company’s strong market position and potential for future growth.
For Centene, this investment represents a vote of confidence from a reputable investor, validating their strategic initiatives and operational performance. It reinforces their mission of providing essential healthcare programs and services that positively impact the lives of millions of Americans.
It is important to note that this information is based on Liontrust Investment Partners LLP’s most recent disclosure with the Securities & Exchange Commission. As of September 10, 2023, it is advised to refer to any subsequent updates or announcements by either party for an accurate assessment of the current situation.
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Hedge Funds and Institutional Investors Show Strong Confidence in Centene (NYSE: CNC) as they Increase Stakes
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”TMUS” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]September 10, 2023 – The strategic moves and investments made by hedge funds and institutional investors in Centene (NYSE: CNC) have caught the attention of market analysts. Several prominent investors, including Moneta Group Investment Advisors LLC and FMR LLC, have significantly increased their stakes in Centene, signaling their confidence in the company’s future prospects.
Moneta Group Investment Advisors LLC witnessed a staggering increase of 84,741.9% in its stake in Centene during the fourth quarter. The company now owns a whopping 225,379,868 shares of Centene’s stock, amounting to a value of $18,483,403,000. This increase was fueled by the acquisition of an additional 225,114,221 shares during the period.
Similarly, FMR LLC also demonstrated its faith in Centene by boosting its stake by 16.6% during the first quarter. It now holds 33,959,390 shares of the company’s stock valued at $2,146,573,000 after acquiring an additional 4,839,483 shares.
Wellington Management Group LLP showed more restrained growth but still grew its position in Centene by 2.3% during the first quarter as well. It currently owns 20,841,828 shares valued at $1,317,4120 million after acquiring an additional 4737;747 shares.
Norges Bank joined this group of investors by purchasing a new stake in Centene worth approximately $71323500 during the fourth quarter.
Lastly,Morgan Stanley raised its holdings in shares of Centene by an impressive 7.0%. They currently possess5 ,119 ,358 shares worth$419839000 after acquiring an additional332702shares.Lines such as these observations indicate that hedge funds and other institutional investors hold a substantial level of trust in Cent ene as they own about90 .92 %oftheIkey assume thebisocks toon ustitheir large-scale investments.
The opinions of various analysts on Centene have also come to the fore. UBS Group started coverage on Centene in June, providing a “neutral” rating and issuing a target price of $72.00 for the company. Barclays, meanwhile, lowered their price objective from $86.00 to $85.00 but maintained an “overweight” rating on Centene’s stock in one of their research notes.
Stephens echoed these sentiments by lowering their target price from $87.00 to $85.00 during a research report released on July 31st.
Wolfe Research took a more critical stance by downgrading Centene from an “outperform” rating to a “peer perform” rating in their July 12th report.
Oppenheimer, however, reaffirmed its “outperform” rating and optimistic outlook, with a price objective of $110.00 on Centene’s shares.
Overall, nine research analysts have given the stock a hold rating, six rate it as a buy, and one analyst has assigned it a strong buy rating. Bloomberg data reveals that the stock currently carries a consensus rating of “Moderate Buy,” with an average target price of approximately $84.22.
Centene’s shares opened at $65.41 on Friday and have been relatively stable recently with its 50-day simple moving average standing at $65.85 and its two-hundred-day simple moving average at $66.23.
With fluctuations between its twelve-month low of $60.83 and high of $93.58—the firm enjoys market capitalization worth$35 .42 billion.Thepeanatiofummagazinre ratio stays at1 .11 , reafpatching tcentlfinancial stabilitywithin reachand not mandavert crisis.T essiallytowSaideamshiThXe quick ratio also residesat 1 ONhe1 giving further assuranceNof the company’s strong liquidity position,h s current ratio mirroring-sharing the same tone.
The company last announced its earnings results on July 28th, presenting notable performance. Centene reported earnings per share of $2.10 for the quarter, surpassing analysts’ consensus estimates of $2.05 by $0.05.
Furthermore, Centene recorded revenue of $37.61 billion during the quarter, which exceeded the pre-established consensus estimate of $36.56 billion.
From a profitability standpoint, Centene showcased a net margin of 1.83% and return on equity of14 .15 %—figures that solidify its market position as an attractive investment option.
On a year-over-year basis, Centene’s quarterly revenue grew by 4.7%. A comparison to the same period last year reveals that the firm posted an increase in earnings per share from $1.77 to$2 .10 more improvements.
Analysts in this sector are optimistic about the future prospects of Centene Co as they project it to post6 .46 EPS—a commendable growth rate—forthecurrent fiscal year.
In summary, investors have demonstrated their confidence in Centene (NYSE: CNC) through significant increases in
