Meeder Asset Management Inc. Has $1.65 Million Position in Centene Co. (NYSE:CNC)

Meeder Asset Management Inc. lessened its stake in shares of Centene Co. (NYSE:CNC) by 63.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,274 shares of the company’s stock after selling 47,671 shares during the period. Meeder Asset Management Inc.’s holdings in Centene were worth $1,652,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Harris Associates L P lifted its position in Centene by 5.7% during the 3rd quarter. Harris Associates L P now owns 26,314,183 shares of the company’s stock worth $1,980,932,000 after acquiring an additional 1,420,825 shares during the last quarter. Norges Bank bought a new position in shares of Centene in the fourth quarter worth about $1,536,167,000. State Street Corp lifted its position in shares of Centene by 0.5% during the 3rd quarter. State Street Corp now owns 23,468,159 shares of the company’s stock worth $1,766,683,000 after purchasing an additional 111,654 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Centene by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,803,437 shares of the company’s stock valued at $230,412,000 after buying an additional 130,895 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its position in Centene by 15.4% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 3,203,049 shares of the company’s stock worth $241,126,000 after buying an additional 428,100 shares during the period. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CNC shares. JPMorgan Chase & Co. restated an “overweight” rating and issued a $75.00 price objective (down previously from $80.00) on shares of Centene in a research note on Tuesday, December 17th. Stephens decreased their price target on shares of Centene from $75.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Friday, December 13th. Truist Financial cut their price objective on shares of Centene from $89.00 to $84.00 and set a “buy” rating for the company in a research report on Friday, December 13th. StockNews.com downgraded Centene from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Finally, Argus downgraded Centene from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $79.92.

Centene Stock Down 0.5 %

Shares of NYSE CNC opened at $59.96 on Monday. Centene Co. has a 52-week low of $55.03 and a 52-week high of $80.59. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 1.11. The business has a fifty day moving average of $59.94 and a two-hundred day moving average of $62.66. The stock has a market cap of $29.74 billion, a PE ratio of 9.61, a PEG ratio of 0.80 and a beta of 0.40.

Centene (NYSE:CNC) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.31. The firm had revenue of $40.81 billion during the quarter, compared to the consensus estimate of $38.78 billion. Centene had a net margin of 2.03% and a return on equity of 13.85%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the firm posted $0.45 EPS. As a group, equities research analysts expect that Centene Co. will post 6.86 earnings per share 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.