Federated Hermes Inc. Sells 298,341 Shares of Centene Co. (NYSE:CNC)

Federated Hermes Inc. reduced its holdings in Centene Co. (NYSE:CNC - Free Report) by 66.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 153,635 shares of the company's stock after selling 298,341 shares during the quarter. Federated Hermes Inc.'s holdings in Centene were worth $9,307,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CNC. Capital Advisors Ltd. LLC boosted its position in shares of Centene by 75.3% in the 4th quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company's stock worth $25,000 after purchasing an additional 177 shares in the last quarter. Hurley Capital LLC bought a new stake in Centene in the fourth quarter worth $26,000. Rialto Wealth Management LLC purchased a new stake in Centene during the 4th quarter valued at $30,000. OFI Invest Asset Management purchased a new position in shares of Centene in the fourth quarter worth $33,000. Finally, SRS Capital Advisors Inc. lifted its holdings in shares of Centene by 73.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 631 shares of the company's stock valued at $38,000 after purchasing an additional 267 shares in the last quarter. Institutional investors own 93.63% of the company's stock.

Centene Price Performance

NYSE CNC traded down $0.92 on Monday, reaching $62.94. The company had a trading volume of 3,113,182 shares, compared to its average volume of 4,695,223. The stock has a market capitalization of $31.22 billion, a PE ratio of 10.09, a price-to-earnings-growth ratio of 0.80 and a beta of 0.53. The firm's 50 day moving average price is $59.49 and its 200 day moving average price is $61.65. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.70. Centene Co. has a 12 month low of $55.03 and a 12 month high of $80.59.

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Centene (NYSE:CNC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.80 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 13.85% and a net margin of 2.03%. The firm's revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.45 earnings per share. As a group, equities analysts predict that Centene Co. will post 6.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Jefferies Financial Group raised shares of Centene from an "underperform" rating to a "hold" rating and raised their price target for the company from $53.00 to $64.00 in a report on Tuesday, April 8th. Argus lowered Centene from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Robert W. Baird boosted their price target on Centene from $66.00 to $71.00 in a research note on Tuesday, February 4th. StockNews.com raised shares of Centene from a "buy" rating to a "strong-buy" rating in a report on Friday. Finally, Wells Fargo & Company lowered their target price on Centene from $76.00 to $72.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. 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. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $80.85.

Centene Company 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.