Strs Ohio Has $12.09 Million Holdings in Centene Co. (NYSE:CNC)

Posted by Defense World Staff on Jul 16th, 2023

Strs Ohio decreased its stake in Centene Co. (NYSE:CNC – Free Report) by 2.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 191,257 shares of the company’s stock after selling 5,782 shares during the quarter. Strs Ohio’s holdings in Centene were worth $12,089,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Coppell Advisory Solutions Corp. acquired a new stake in Centene in the 4th quarter valued at $25,000. Whittier Trust Co. of Nevada Inc. boosted its stake in Centene by 5,700.0% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 348 shares of the company’s stock valued at $29,000 after buying an additional 342 shares in the last quarter. Arlington Partners LLC acquired a new stake in Centene in the 1st quarter valued at $35,000. Compagnie Lombard Odier SCmA acquired a new position in Centene in the fourth quarter worth $41,000. Finally, Resurgent Financial Advisors LLC acquired a new position in Centene in the fourth quarter worth $62,000. Institutional investors and hedge funds own 90.11% of the company’s stock.

Insider Transactions at Centene

In other news, Director Lori Jean Robinson sold 1,400 shares of the stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $66.59, for a total transaction of $93,226.00. Following the transaction, the director now owns 8,508 shares in the company, valued at $566,547.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.33% of the stock is owned by corporate insiders.

Centene Price Performance

NYSE:CNC opened at $65.63 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.72. The stock’s 50 day moving average price is $66.19 and its two-hundred day moving average price is $69.04. The firm has a market capitalization of $36.02 billion, a price-to-earnings ratio of 24.86, a P/E/G ratio of 0.85 and a beta of 0.58. Centene Co. has a 12-month low of $61.34 and a 12-month high of $98.53.

Centene (NYSE:CNC – Get Free Report) last released its quarterly earnings data on Tuesday, April 25th. The company reported $2.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.12). The business had revenue of $38.89 billion during the quarter, compared to the consensus estimate of $36.09 billion. Centene had a net margin of 1.01% and a return on equity of 13.61%. Centene’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.83 EPS. On average, analysts anticipate that Centene Co. will post 6.43 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Wolfe Research lowered Centene from an “outperform” rating to a “peer perform” rating in a research note on Wednesday. Credit Suisse Group dropped their price objective on Centene from $94.00 to $87.00 in a report on Wednesday, April 26th. JPMorgan Chase & Co. dropped their price objective on Centene from $81.00 to $77.00 in a report on Friday, July 7th. Barclays decreased their target price on Centene from $90.00 to $86.00 in a research note on Wednesday, April 26th. Finally, UBS Group initiated coverage on Centene in a research note on Tuesday, June 20th. They issued a “neutral” rating and a $72.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Centene presently has an average rating of “Moderate Buy” and a consensus target price of $86.28.

About Centene

(Free Report)

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. It operates in two segments, Managed Care and Specialty Services. The Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which cover dually eligible individuals, as well as aged, blind, or disabled programs.