Centene Corporation $CNC Stock Position Decreased by LSV Asset Management

LSV Asset Management cut its position in shares of Centene Corporation (NYSE:CNC) by 46.5% in the fourth quarter, Holdings Channel reports. The firm owned 2,371,261 shares of the company’s stock after selling 2,061,964 shares during the period. LSV Asset Management’s holdings in Centene were worth $97,577,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Evoke Wealth LLC raised its stake in shares of Centene by 120.1% during the 4th quarter. Evoke Wealth LLC now owns 22,218 shares of the company’s stock worth $914,000 after purchasing an additional 12,124 shares in the last quarter. Global Retirement Partners LLC raised its stake in shares of Centene by 44.7% during the 4th quarter. Global Retirement Partners LLC now owns 3,770 shares of the company’s stock worth $155,000 after purchasing an additional 1,165 shares in the last quarter. Fi3 FINANCIAL ADVISORS LLC purchased a new stake in shares of Centene during the 4th quarter worth about $531,000. Leonteq Securities AG purchased a new stake in shares of Centene during the 4th quarter worth about $1,002,000. Finally, ABN Amro Investment Solutions purchased a new stake in shares of Centene during the 4th quarter worth about $794,000. 93.63% of the stock is owned by hedge funds and other institutional investors.

Centene Stock Up 2.4%

Shares of CNC stock opened at $59.15 on Friday. The stock’s 50 day simple moving average is $43.06 and its 200 day simple moving average is $41.63. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.12 and a current ratio of 1.12. Centene Corporation has a twelve month low of $25.08 and a twelve month high of $60.76. The company has a market capitalization of $29.21 billion, a price-to-earnings ratio of -4.50, a PEG ratio of 1.14 and a beta of 1.06.

Centene (NYSE:CNC) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $1.14. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.The business had revenue of $49.94 billion for the quarter, compared to the consensus estimate of $47.53 billion. During the same period last year, the business earned $2.90 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. As a group, research analysts predict that Centene Corporation will post 3.45 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CNC shares. Bank of America raised their price target on Centene from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday. Robert W. Baird raised their price target on Centene from $36.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 15th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $40.00 price target on shares of Centene in a research note on Wednesday, April 29th. JPMorgan Chase & Co. raised their price objective on Centene from $41.00 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. Finally, Wells Fargo & Company raised their price objective on Centene from $44.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $56.94.

Centene Profile

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.