Korea Investment CORP cut its holdings in Centene Co. (NYSE:CNC - Free Report) by 24.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 315,039 shares of the company's stock after selling 102,568 shares during the period. Korea Investment CORP owned approximately 0.06% of Centene worth $19,085,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Harris Associates L P lifted its stake in Centene by 5.7% in the third quarter. Harris Associates L P now owns 26,314,183 shares of the company's stock valued at $1,980,932,000 after buying an additional 1,420,825 shares during the period. State Street Corp boosted its stake in Centene by 0.5% during the third quarter. State Street Corp now owns 23,468,159 shares of the company's stock worth $1,766,683,000 after acquiring an additional 111,654 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Centene by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,803,437 shares of the company's stock valued at $230,412,000 after purchasing an additional 130,895 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Centene by 15.4% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 3,203,049 shares of the company's stock valued at $241,126,000 after purchasing an additional 428,100 shares during the period. Finally, Amundi boosted its position in shares of Centene by 77.2% during the 4th quarter. Amundi now owns 2,786,770 shares of the company's stock worth $176,040,000 after purchasing an additional 1,214,425 shares in the last quarter. Institutional investors own 93.63% of the company's stock.
Centene Stock Performance
Centene stock traded up $2.58 during mid-day trading on Thursday, reaching $63.31. 1,545,267 shares of the company's stock were exchanged, compared to its average volume of 4,418,168. The firm has a market capitalization of $31.40 billion, a PE ratio of 10.15, a P/E/G ratio of 0.80 and a beta of 0.40. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.70. The business's fifty day simple moving average is $59.79 and its 200 day simple moving average is $62.44. Centene Co. has a one year low of $55.03 and a one year high of $80.59.
Centene (NYSE:CNC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.31. The company had revenue of $40.81 billion during the quarter, compared to analyst estimates of $38.78 billion. Centene had a net margin of 2.03% and a return on equity of 13.85%. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.45 earnings per share. On average, sell-side analysts expect that Centene Co. will post 6.86 earnings per share for the current year.
Analysts Set New Price Targets
A number of research firms recently weighed in on CNC. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $75.00 price target (down from $80.00) on shares of Centene in a research note on Tuesday, December 17th. Barclays increased their target price on Centene from $91.00 to $93.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. Argus downgraded shares of Centene from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Jefferies Financial Group cut shares of Centene from a "hold" rating to an "underperform" rating and reduced their price objective for the company from $68.00 to $52.00 in a report on Tuesday, December 10th. Finally, StockNews.com cut shares of Centene from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Centene presently has an average rating of "Moderate Buy" and an average target price of $79.92.
Read Our Latest Stock Analysis on Centene
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. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children's health insurance program, foster care, medicare-medicaid plans, long-term services and support.
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