Centene Co. (NYSE:CNC) Shares Acquired by Sei Investments Co.

Sei Investments Co. raised its stake in Centene Co. (NYSE:CNC) by 7.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,066,775 shares of the company’s stock after purchasing an additional 69,565 shares during the period. Sei Investments Co.’s holdings in Centene were worth $83,720,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Centene during the 4th quarter worth approximately $1,325,441,000. Harris Associates L P increased its holdings in shares of Centene by 172.8% in the 4th quarter. Harris Associates L P now owns 10,863,367 shares of the company’s stock valued at $806,170,000 after acquiring an additional 6,881,450 shares during the period. Boston Partners raised its position in Centene by 4.7% in the 4th quarter. Boston Partners now owns 8,619,750 shares of the company’s stock valued at $639,878,000 after purchasing an additional 385,839 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Centene by 12.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,112,397 shares of the company’s stock worth $305,173,000 after purchasing an additional 467,246 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Centene by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,664,940 shares of the company’s stock worth $271,975,000 after purchasing an additional 117,243 shares during the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Insider Activity at Centene

In other Centene news, Director Christopher J. Coughlin sold 878 shares of Centene stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $76.75, for a total transaction of $67,386.50. Following the completion of the transaction, the director now owns 25,504 shares in the company, valued at $1,957,432. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Christopher J. Coughlin sold 878 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $76.75, for a total value of $67,386.50. Following the completion of the transaction, the director now directly owns 25,504 shares of the company’s stock, valued at $1,957,432. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Kenneth J. Fasola sold 8,000 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $77.62, for a total value of $620,960.00. Following the sale, the president now directly owns 300,357 shares in the company, valued at approximately $23,313,710.34. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CNC shares. Stephens reiterated an “equal weight” rating and set a $83.00 target price on shares of Centene in a research note on Thursday, May 30th. StockNews.com upgraded Centene from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Truist Financial cut their price target on Centene from $92.00 to $89.00 and set a “buy” rating for the company in a research note on Monday. Barclays lifted their price objective on shares of Centene from $101.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Centene from $85.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $86.23.

Centene Price Performance

Shares of CNC stock traded down $1.86 during midday trading on Monday, reaching $66.00. 3,878,659 shares of the company traded hands, compared to its average volume of 3,365,200. The firm’s 50 day simple moving average is $70.98 and its two-hundred day simple moving average is $74.34. The firm has a market cap of $35.22 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 0.88 and a beta of 0.50. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.17 and a quick ratio of 1.17. Centene Co. has a 1-year low of $60.83 and a 1-year high of $81.42.

Centene (NYSE:CNC) last issued its quarterly earnings data on Friday, April 26th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.17. The firm had revenue of $40.41 billion during the quarter, compared to analysts’ expectations of $36.43 billion. Centene had a return on equity of 14.19% and a net margin of 1.76%. During the same period in the previous year, the firm posted $2.11 earnings per share. Centene’s revenue was up 3.9% on a year-over-year basis. On average, equities research analysts expect that Centene Co. will post 6.81 EPS for the current fiscal 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.