Rockefeller Capital Management L.P. Sells 1,480,505 Shares of Centene Co. (NYSE:CNC)

Rockefeller Capital Management L.P. lessened its position in shares of Centene Co. (NYSE:CNC - Free Report) by 94.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 84,710 shares of the company's stock after selling 1,480,505 shares during the period. Rockefeller Capital Management L.P.'s holdings in Centene were worth $5,135,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Advisors Ltd. LLC grew its stake 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 purchasing an additional 177 shares during the period. Hurley Capital LLC acquired a new position in Centene in the 4th quarter valued at $26,000. Rialto Wealth Management LLC purchased a new position in Centene during the fourth quarter worth about $30,000. OFI Invest Asset Management purchased a new position in Centene during the fourth quarter worth approximately $33,000. Finally, SRS Capital Advisors Inc. grew its position in 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 acquiring an additional 267 shares during the period. Institutional investors and hedge funds own 93.63% of the company's stock.

Centene Price Performance

Shares of CNC stock traded up $1.76 on Wednesday, reaching $61.99. The company had a trading volume of 932,017 shares, compared to its average volume of 4,691,540. The business's 50-day moving average is $59.86 and its 200 day moving average is $61.13. The stock has a market capitalization of $30.75 billion, a PE ratio of 9.93, a price-to-earnings-growth ratio of 0.80 and a beta of 0.53. Centene Co. has a one year low of $55.03 and a one year high of $80.59. 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 (NYSE:CNC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.49 by $0.31. The business 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 quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business earned $0.45 EPS. Equities research analysts forecast that Centene Co. will post 6.86 EPS for the current fiscal year.

Analysts Set New Price Targets

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