150,456 Shares in Centene Co. (NYSE:CNC) Bought by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. bought a new stake in Centene Co. (NYSE:CNC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 150,456 shares of the company's stock, valued at approximately $9,115,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Advisors Ltd. LLC raised its position in shares of Centene by 75.3% during the 4th quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company's stock worth $25,000 after acquiring an additional 177 shares in the last quarter. Rialto Wealth Management LLC acquired a new stake in Centene during the fourth quarter worth approximately $30,000. OFI Invest Asset Management acquired a new position in shares of Centene in the 4th quarter valued at $33,000. SRS Capital Advisors Inc. grew its position in shares of Centene by 73.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 631 shares of the company's stock valued at $38,000 after buying an additional 267 shares during the last quarter. Finally, Riverview Trust Co lifted its position in Centene by 172.7% in the fourth quarter. Riverview Trust Co now owns 758 shares of the company's stock valued at $46,000 after acquiring an additional 480 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Stock Performance

NYSE CNC traded up $1.43 on Friday, hitting $63.82. 3,887,943 shares of the company's stock were exchanged, compared to its average volume of 4,701,515. 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 firm's 50-day moving average price is $59.49 and its two-hundred day moving average price is $61.65. The firm has a market cap of $31.66 billion, a price-to-earnings ratio of 10.23, a P/E/G ratio of 0.80 and a beta of 0.53. Centene Co. has a fifty-two week low of $55.03 and a fifty-two week high of $80.59.

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Centene (NYSE:CNC - Get Free Report) last released its 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 the consensus estimate of $38.78 billion. Centene had a return on equity of 13.85% and a net margin of 2.03%. Centene's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 earnings per share. On average, research analysts expect that Centene Co. will post 6.86 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Jefferies Financial Group raised Centene from an "underperform" rating to a "hold" rating and raised their price objective for the stock from $53.00 to $64.00 in a report on Tuesday, April 8th. Robert W. Baird lifted their price target on Centene from $66.00 to $71.00 in a research report on Tuesday, February 4th. Guggenheim began coverage on shares of Centene in a research report on Wednesday. They set a "neutral" rating on the stock. StockNews.com upgraded shares of Centene from a "buy" rating to a "strong-buy" rating in a research report on Friday. Finally, Wells Fargo & Company dropped their price objective on shares of Centene from $76.00 to $72.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Centene presently has an average rating of "Moderate Buy" and an average price target 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.