Dimensional Fund Advisors LP Cuts Stake in Centene Co. (NYSE:CNC)

Dimensional Fund Advisors LP lessened its holdings in Centene Co. (NYSE:CNC - Free Report) by 3.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,404,989 shares of the company's stock after selling 172,062 shares during the period. Dimensional Fund Advisors LP owned about 0.87% of Centene worth $266,845,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Osborne Partners Capital Management LLC boosted its position in Centene by 5.0% during the fourth quarter. Osborne Partners Capital Management LLC now owns 221,156 shares of the company's stock valued at $13,398,000 after purchasing an additional 10,515 shares in the last quarter. Perpetual Ltd grew its position in shares of Centene by 68.4% in the 4th quarter. Perpetual Ltd now owns 36,126 shares of the company's stock worth $2,189,000 after buying an additional 14,671 shares during the last quarter. Polianta Ltd raised its stake in shares of Centene by 41.7% during the 4th quarter. Polianta Ltd now owns 22,100 shares of the company's stock worth $1,338,000 after acquiring an additional 6,500 shares in the last quarter. KBC Group NV grew its holdings in Centene by 27.3% in the fourth quarter. KBC Group NV now owns 1,602,533 shares of the company's stock worth $97,082,000 after purchasing an additional 343,559 shares during the last quarter. Finally, Washington Capital Management Inc. lifted its holdings in shares of Centene by 40.9% during the 4th quarter. Washington Capital Management Inc. now owns 19,130 shares of the company's stock valued at $1,159,000 after purchasing an additional 5,550 shares during the last quarter. Institutional investors own 93.63% of the company's stock.

Centene Stock Down 4.5 %

Centene stock opened at $57.97 on Tuesday. Centene Co. has a 12 month low of $55.03 and a 12 month high of $80.59. The stock has a market capitalization of $28.76 billion, a PE ratio of 9.29, 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 current ratio of 1.11 and a quick ratio of 1.10. The business has a 50 day simple moving average of $59.80 and a 200-day simple moving average of $61.13.

Centene (NYSE:CNC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $38.78 billion. During the same period last year, the firm posted $0.45 earnings per share. The company's revenue was up 3.4% compared to the same quarter last year. On average, analysts anticipate that Centene Co. will post 6.86 EPS for the current fiscal year.

Analysts Set New Price Targets

CNC has been the subject of a number of research analyst reports. StockNews.com upgraded Centene from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 11th. Guggenheim initiated coverage on shares of Centene in a research report on Wednesday, April 9th. They set a "neutral" rating on the stock. Wells Fargo & Company decreased their price target on shares of Centene from $76.00 to $72.00 and set an "overweight" rating for the company in a report on Friday, February 14th. Jefferies Financial Group raised Centene from an "underperform" rating to a "hold" rating and upped their target price for the company from $53.00 to $64.00 in a research report on Tuesday, April 8th. Finally, Robert W. Baird lowered their price target on Centene from $71.00 to $69.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $80.69.

About Centene

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.

Want to see what other hedge funds are holding CNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Centene Co. (NYSE:CNC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.