Mitsubishi UFJ Trust & Banking Corp Lowers Position in Centene Corporation $CNC

Mitsubishi UFJ Trust & Banking Corp trimmed its position in Centene Corporation (NYSE:CNC) by 53.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 367,452 shares of the company’s stock after selling 419,268 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Centene were worth $13,111,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Centene in the 3rd quarter worth about $27,000. WPG Advisers LLC grew its holdings in Centene by 44.5% in the third quarter. WPG Advisers LLC now owns 915 shares of the company’s stock worth $33,000 after purchasing an additional 282 shares during the period. Bogart Wealth LLC increased its stake in shares of Centene by 11,011.1% during the third quarter. Bogart Wealth LLC now owns 1,000 shares of the company’s stock valued at $36,000 after purchasing an additional 991 shares in the last quarter. Financial Network Wealth Advisors LLC boosted its position in shares of Centene by 54.9% in the 3rd quarter. Financial Network Wealth Advisors LLC now owns 1,100 shares of the company’s stock worth $39,000 after purchasing an additional 390 shares in the last quarter. Finally, Quent Capital LLC purchased a new stake in shares of Centene in the 3rd quarter worth approximately $45,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CNC. Mizuho set a $47.00 target price on Centene in a report on Friday, January 9th. Zacks Research upgraded shares of Centene from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 29th. Morgan Stanley raised their price objective on shares of Centene from $28.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 14th. Barclays set a $44.00 target price on shares of Centene and gave the stock an “equal weight” rating in a research note on Tuesday, November 4th. Finally, Wells Fargo & Company set a $43.00 price target on shares of Centene and gave the company an “equal weight” rating in a research report on Wednesday, January 7th. Three investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Centene currently has an average rating of “Hold” and an average target price of $40.81.

Centene Stock Performance

Shares of NYSE CNC opened at $41.50 on Wednesday. The firm’s 50-day moving average price is $41.43 and its 200-day moving average price is $35.28. Centene Corporation has a 52-week low of $25.08 and a 52-week high of $66.81. The company has a market cap of $20.40 billion, a PE ratio of -3.84, a PEG ratio of 1.05 and a beta of 0.48. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.83.

Centene (NYSE:CNC) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $49.69 billion for the quarter, compared to the consensus estimate of $47.50 billion. During the same quarter in the prior year, the firm earned $1.62 earnings per share. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. As a group, analysts anticipate that Centene Corporation will post 6.86 EPS for the current year.

Centene 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.