MAI Capital Management cut its stake in Centene Co. (NYSE:CNC – Free Report) by 6.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,119 shares of the company’s stock after selling 303 shares during the quarter. MAI Capital Management’s holdings in Centene were worth $260,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CNC. Moneta Group Investment Advisors LLC grew its stake in Centene by 84,741.9% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 225,379,868 shares of the company’s stock worth $18,483,403,000 after buying an additional 225,114,221 shares during the last quarter. Norges Bank purchased a new stake in Centene during the 4th quarter valued at about $713,235,000. Nordea Investment Management AB grew its stake in Centene by 1,837.3% during the 4th quarter. Nordea Investment Management AB now owns 3,056,561 shares of the company’s stock valued at $249,935,000 after purchasing an additional 2,898,790 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in Centene by 598.7% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,342,600 shares of the company’s stock valued at $110,107,000 after purchasing an additional 1,150,444 shares during the last quarter. Finally, Prudential Financial Inc. increased its position in Centene by 132.7% during the 1st quarter. Prudential Financial Inc. now owns 1,552,890 shares of the company’s stock worth $130,738,000 after purchasing an additional 885,683 shares during the period. 90.11% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several brokerages have recently commented on CNC. UBS Group began coverage on Centene in a research note on Tuesday, June 20th. They set a “neutral” rating and a $72.00 price target on the stock. Wolfe Research lowered Centene from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, July 12th. Mizuho decreased their price target on Centene from $80.00 to $76.00 in a research note on Tuesday, July 11th. Barclays decreased their price target on Centene from $86.00 to $85.00 and set an “overweight” rating on the stock in a research note on Monday, July 31st. Finally, JPMorgan Chase & Co. reduced their target price on Centene from $81.00 to $77.00 in a research note on Friday, July 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $86.11.
Centene Trading Up 0.5 %
Shares of Centene stock opened at $63.97 on Friday. The firm has a market cap of $34.64 billion, a PE ratio of 13.19, a P/E/G 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. The business’s fifty day moving average is $66.53 and its two-hundred day moving average is $66.98. Centene Co. has a fifty-two week low of $61.34 and a fifty-two week high of $96.12.
Centene (NYSE:CNC – Get Free Report) last released its quarterly earnings data on Friday, July 28th. The company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. The business had revenue of $37.61 billion during the quarter, compared to the consensus estimate of $36.56 billion. Centene had a return on equity of 14.15% and a net margin of 1.83%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.77 EPS. Analysts anticipate that Centene Co. will post 6.46 earnings per share for the current year.
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. 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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