Centene Co. (NYSE:CNC) Stock Position Trimmed by Great Lakes Advisors LLC

Posted by on Aug 23rd, 2023

Great Lakes Advisors LLC lessened its stake in Centene Co. (NYSE:CNC – Free Report) by 28.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,846 shares of the company’s stock after selling 1,961 shares during the period. Great Lakes Advisors LLC’s holdings in Centene were worth $306,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cibc World Market Inc. boosted its stake in shares of Centene by 1,401.4% during the 1st quarter. Cibc World Market Inc. now owns 46,333 shares of the company’s stock valued at $3,901,000 after buying an additional 43,247 shares during the period. Vontobel Holding Ltd. grew its holdings in shares of Centene by 7.2% in the 1st quarter. Vontobel Holding Ltd. now owns 9,734 shares of the company’s stock worth $841,000 after purchasing an additional 657 shares during the last quarter. Blair William & Co. IL boosted its holdings in shares of Centene by 104.7% in the 1st quarter. Blair William & Co. IL now owns 43,760 shares of the company’s stock worth $3,684,000 after acquiring an additional 22,382 shares in the last quarter. Brighton Jones LLC acquired a new position in Centene during the 1st quarter worth about $203,000. Finally, Candriam Luxembourg S.C.A. grew its stake in shares of Centene by 10.0% during the first quarter. Candriam Luxembourg S.C.A. now owns 37,404 shares of the company’s stock valued at $3,149,000 after purchasing an additional 3,414 shares during the last quarter. Institutional investors own 90.11% of the company’s stock.

Centene Stock Down 0.0 %

CNC opened at $63.80 on Wednesday. The company has a 50-day moving average price of $66.59 and a 200 day moving average price of $67.02. Centene Co. has a twelve month low of $61.34 and a twelve month high of $96.85. The company has a market cap of $34.55 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 0.88 and a beta of 0.57. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.69.

Centene (NYSE:CNC – Get Free Report) last issued its earnings results on Friday, July 28th. The company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.05. The company had revenue of $37.61 billion during the quarter, compared to analysts’ expectations of $36.56 billion. Centene had a return on equity of 14.15% and a net margin of 1.83%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.77 EPS. Sell-side analysts expect that Centene Co. will post 6.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CNC shares. Stephens cut their price objective on shares of Centene from $87.00 to $85.00 in a report on Monday, July 31st. Wolfe Research cut Centene from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, July 12th. Morgan Stanley restated an “overweight” rating and issued a $94.00 price target on shares of Centene in a research note on Friday, July 14th. StockNews.com assumed coverage on Centene in a report on Thursday, August 17th. They set a “strong-buy” rating for the company. Finally, UBS Group assumed coverage on shares of Centene in a research report on Tuesday, June 20th. They issued a “neutral” rating and a $72.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Centene has an average rating of “Moderate Buy” and a consensus target price of $86.11.

Get Our Latest Stock Analysis on CNC

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.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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