Nisa Investment Advisors LLC reduced its stake in shares of Centene Corporation (NYSE:CNC) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 118,128 shares of the company’s stock after selling 2,217 shares during the period. Nisa Investment Advisors LLC owned 0.07% of Centene worth $11,917,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in CNC. Columbus Circle Investors bought a new position in shares of Centene in the 3rd quarter worth about $9,387,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Centene in the 2nd quarter worth about $455,000. Handelsbanken Fonder AB raised its position in shares of Centene by 29.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 178,000 shares of the company’s stock worth $17,225,000 after acquiring an additional 40,000 shares in the last quarter. Trustmark National Bank Trust Department bought a new position in shares of Centene in the 3rd quarter worth about $291,000. Finally, Allen Investment Management LLC bought a new position in shares of Centene in the 3rd quarter worth about $327,000. 91.84% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently weighed in on CNC. Goldman Sachs Group began coverage on Centene in a research report on Wednesday, January 3rd. They issued a “buy” rating and a $135.00 price objective for the company. ValuEngine raised Centene from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Zacks Investment Research upgraded Centene from a “hold” rating to a “strong-buy” rating and set a $117.00 target price for the company in a research note on Tuesday, December 26th. Oppenheimer raised their target price on Centene from $111.00 to $122.00 and gave the company an “outperform” rating in a research note on Wednesday, December 20th. Finally, Jefferies Group raised their target price on Centene from $112.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, December 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $104.21.
Centene Corporation (CNC) opened at $109.48 on Friday. The stock has a market capitalization of $18,892.53, a PE ratio of 20.85, a price-to-earnings-growth ratio of 1.37 and a beta of 0.70. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.99 and a current ratio of 0.99. Centene Corporation has a 12 month low of $61.15 and a 12 month high of $109.70.
Centene (NYSE:CNC) last released its quarterly earnings results on Tuesday, October 24th. The company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.11. The business had revenue of $11.90 billion during the quarter, compared to the consensus estimate of $11.75 billion. Centene had a return on equity of 14.79% and a net margin of 1.81%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.12 EPS. equities research analysts expect that Centene Corporation will post 5 earnings per share for the current fiscal year.
In other Centene news, Director Robert K. Ditmore sold 8,750 shares of Centene stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $104.30, for a total transaction of $912,625.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Keith H. Williamson sold 5,000 shares of Centene stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $100.11, for a total value of $500,550.00. The disclosure for this sale can be found here. Insiders have sold a total of 27,917 shares of company stock valued at $2,777,255 in the last quarter. Company insiders own 3.00% of the company’s stock.
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Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.
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