Centene Corporation $CNC Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. cut its position in shares of Centene Corporation (NYSE:CNC) by 43.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,697 shares of the company’s stock after selling 9,836 shares during the quarter. Securian Asset Management Inc.’s holdings in Centene were worth $522,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Baird Financial Group Inc. acquired a new position in Centene in the 1st quarter valued at $236,000. Sivia Capital Partners LLC boosted its holdings in shares of Centene by 80.0% during the second quarter. Sivia Capital Partners LLC now owns 9,710 shares of the company’s stock worth $527,000 after purchasing an additional 4,315 shares during the last quarter. CW Advisors LLC grew its position in shares of Centene by 20.3% in the second quarter. CW Advisors LLC now owns 4,863 shares of the company’s stock valued at $264,000 after purchasing an additional 820 shares during the period. NewEdge Advisors LLC increased its stake in Centene by 6.1% in the second quarter. NewEdge Advisors LLC now owns 44,945 shares of the company’s stock valued at $2,440,000 after purchasing an additional 2,582 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in Centene by 0.4% during the second quarter. Treasurer of the State of North Carolina now owns 231,938 shares of the company’s stock worth $12,590,000 after buying an additional 967 shares during the period. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Analyst Ratings Changes

CNC has been the subject of several recent analyst reports. Truist Financial lifted their price target on Centene from $49.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Jefferies Financial Group raised their target price on shares of Centene from $39.00 to $48.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Centene from $39.00 to $53.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. Morgan Stanley increased their price target on shares of Centene from $45.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 29th. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $40.00 price objective on shares of Centene in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $53.82.

Centene Price Performance

CNC opened at $58.25 on Friday. The company has a 50 day moving average of $41.26 and a two-hundred day moving average of $40.81. Centene Corporation has a 52-week low of $25.08 and a 52-week high of $62.21. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.76. The company has a market cap of $28.76 billion, a P/E ratio of -4.43, a P/E/G ratio of 1.13 and a beta of 1.06.

Centene (NYSE:CNC) last posted its earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $2.23 by $1.14. Centene had a negative net margin of 3.25% and a positive return on equity of 5.57%. The business had revenue of $49.94 billion for the quarter, compared to analyst estimates of $47.53 billion. During the same quarter in the previous year, the business posted $2.90 EPS. The business’s quarterly revenue was up 7.1% on a year-over-year basis. On average, analysts expect that Centene Corporation will post 3.45 earnings per share for the current year.

Centene Company Profile

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.