Robeco Institutional Asset Management B.V. Has $15.70 Million Stake in Centene Corporation $CNC

Robeco Institutional Asset Management B.V. lowered its holdings in Centene Corporation (NYSE:CNC) by 60.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 440,011 shares of the company’s stock after selling 671,571 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.09% of Centene worth $15,700,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Earned Wealth Advisors LLC acquired a new stake in shares of Centene in the third quarter valued at about $381,000. Gateway Investment Advisers LLC acquired a new position in shares of Centene during the 3rd quarter worth approximately $270,000. Signaturefd LLC raised its stake in shares of Centene by 23.1% during the 3rd quarter. Signaturefd LLC now owns 15,296 shares of the company’s stock worth $546,000 after purchasing an additional 2,869 shares in the last quarter. True Wealth Design LLC boosted its holdings in shares of Centene by 443.1% in the 3rd quarter. True Wealth Design LLC now owns 3,628 shares of the company’s stock valued at $129,000 after buying an additional 2,960 shares during the last quarter. Finally, Ninety One UK Ltd bought a new position in shares of Centene in the third quarter valued at $23,378,000. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CNC has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of Centene from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Centene from $24.00 to $32.00 in a research note on Friday, October 31st. Sanford C. Bernstein reissued an “outperform” rating and set a $59.00 price target on shares of Centene in a research report on Tuesday. Robert W. Baird raised their price objective on Centene from $28.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Finally, Cantor Fitzgerald boosted their target price on Centene from $38.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Three research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $39.94.

Centene Stock Up 2.4%

CNC stock opened at $46.87 on Friday. Centene Corporation has a fifty-two week low of $25.08 and a fifty-two week high of $66.81. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market capitalization of $23.04 billion, a price-to-earnings ratio of -4.33, a PEG ratio of 1.04 and a beta of 0.48. The business’s fifty day moving average price is $38.94 and its two-hundred day moving average price is $35.13.

Centene (NYSE:CNC) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.50 EPS for the quarter, beating 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 the consensus estimate of $47.50 billion. During the same period in the prior year, the company posted $1.62 earnings per share. Centene’s revenue was up 18.2% compared to the same quarter last year. On average, equities analysts anticipate that Centene Corporation will post 6.86 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.