Centene Corporation $CNC Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its position in Centene Corporation (NYSE:CNC) by 7.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,297,942 shares of the company’s stock after selling 108,653 shares during the period. Hsbc Holdings PLC owned approximately 0.26% of Centene worth $70,242,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Mutual of America Capital Management LLC increased its position in shares of Centene by 3.7% in the first quarter. Mutual of America Capital Management LLC now owns 99,490 shares of the company’s stock valued at $6,040,000 after buying an additional 3,574 shares in the last quarter. Avantax Advisory Services Inc. grew its stake in Centene by 5.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 17,361 shares of the company’s stock valued at $1,054,000 after acquiring an additional 901 shares during the last quarter. Cetera Investment Advisers increased its holdings in Centene by 14.4% during the 1st quarter. Cetera Investment Advisers now owns 59,122 shares of the company’s stock valued at $3,589,000 after acquiring an additional 7,435 shares in the last quarter. LPL Financial LLC raised its position in Centene by 7.7% during the first quarter. LPL Financial LLC now owns 233,626 shares of the company’s stock worth $14,183,000 after acquiring an additional 16,698 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of Centene by 82.9% in the first quarter. Federated Hermes Inc. now owns 280,954 shares of the company’s stock valued at $17,057,000 after purchasing an additional 127,319 shares in the last quarter. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on CNC shares. Morgan Stanley lifted their price objective on Centene from $28.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 14th. Oppenheimer reissued an “outperform” rating and issued a $45.00 price target on shares of Centene in a report on Thursday, October 30th. Mizuho increased their price objective on Centene from $28.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Barclays set a $44.00 target price on shares of Centene and gave the company an “equal weight” rating in a research note on Tuesday, November 4th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Centene from $30.00 to $38.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Three investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Centene presently has a consensus rating of “Hold” and an average target price of $40.00.

Centene Stock Down 0.7%

CNC opened at $39.19 on Friday. Centene Corporation has a 12 month low of $25.08 and a 12 month high of $66.81. The business has a 50-day moving average of $36.14 and a two-hundred day moving average of $38.28. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.08 and a quick ratio of 1.10. The stock has a market capitalization of $19.26 billion, a price-to-earnings ratio of -3.62, a price-to-earnings-growth ratio of 1.24 and a beta of 0.49.

Centene (NYSE:CNC) last released its earnings results on Wednesday, October 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.71. Centene had a negative net margin of 2.85% and a positive return on equity of 7.82%. The business had revenue of $49.69 billion for the quarter, compared to analysts’ expectations of $47.50 billion. During the same period last year, the company earned $1.62 earnings per share. The company’s quarterly revenue was up 18.2% on a year-over-year basis. On average, research analysts expect that Centene Corporation will post 6.86 earnings per share for the current year.

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.