Centene Co. (NYSE:CNC) Stock Position Decreased by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury cut its stake in shares of Centene Co. (NYSE:CNC - Free Report) by 7.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 224,604 shares of the company's stock after selling 17,559 shares during the period. State of Tennessee Department of Treasury's holdings in Centene were worth $13,607,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Virtu Financial LLC acquired a new stake in shares of Centene during the third quarter valued at approximately $844,000. Wilmington Savings Fund Society FSB acquired a new stake in Centene during the 3rd quarter valued at $211,000. Tidal Investments LLC lifted its holdings in shares of Centene by 21.8% in the third quarter. Tidal Investments LLC now owns 42,117 shares of the company's stock valued at $3,171,000 after purchasing an additional 7,549 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its position in shares of Centene by 32.4% in the third quarter. B. Riley Wealth Advisors Inc. now owns 4,152 shares of the company's stock worth $307,000 after buying an additional 1,016 shares during the period. Finally, Principal Financial Group Inc. raised its position in Centene by 3.7% during the third quarter. Principal Financial Group Inc. now owns 621,664 shares of the company's stock valued at $46,799,000 after buying an additional 22,233 shares during the period. Institutional investors and hedge funds own 93.63% of the company's stock.

Centene Stock Up 3.7 %

CNC opened at $60.18 on Wednesday. The firm has a market cap of $29.85 billion, a P/E ratio of 9.64, a price-to-earnings-growth ratio of 0.80 and a beta of 0.53. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 1.11. The business has a 50 day moving average price of $59.86 and a 200 day moving average price of $61.13. Centene Co. has a twelve month low of $55.03 and a twelve month high of $80.59.

Centene (NYSE:CNC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.49 by $0.31. Centene had a net margin of 2.03% and a return on equity of 13.85%. The business had revenue of $40.81 billion during the quarter, compared to analysts' expectations of $38.78 billion. During the same period in the previous year, the company earned $0.45 earnings per share. Centene's revenue for the quarter was up 3.4% on a year-over-year basis. Research analysts forecast that Centene Co. will post 6.86 EPS for the current year.

Wall Street Analysts Forecast Growth

CNC has been the subject of a number of research reports. Robert W. Baird decreased their price objective on Centene from $71.00 to $69.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Wells Fargo & Company lowered their price objective on shares of Centene from $76.00 to $72.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Jefferies Financial Group raised shares of Centene from an "underperform" rating to a "hold" rating and lifted their target price for the company from $53.00 to $64.00 in a research note on Tuesday, April 8th. Guggenheim started coverage on shares of Centene in a research note on Wednesday, April 9th. They issued a "neutral" rating on the stock. Finally, Argus cut Centene from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $80.69.

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. 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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