Cambiar Investors LLC Has $39.47 Million Stake in Centene Corporation $CNC

Cambiar Investors LLC reduced its holdings in Centene Corporation (NYSE:CNC) by 5.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 727,068 shares of the company’s stock after selling 41,922 shares during the quarter. Centene comprises 1.7% of Cambiar Investors LLC’s portfolio, making the stock its 25th biggest holding. Cambiar Investors LLC owned approximately 0.15% of Centene worth $39,465,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Quadcap Wealth Management LLC grew its position in shares of Centene by 3.2% in the first quarter. Quadcap Wealth Management LLC now owns 5,617 shares of the company’s stock valued at $341,000 after purchasing an additional 172 shares during the last quarter. Poinciana Advisors Group LLC grew its position in shares of Centene by 2.8% in the first quarter. Poinciana Advisors Group LLC now owns 7,221 shares of the company’s stock valued at $438,000 after purchasing an additional 195 shares during the last quarter. Carnegie Investment Counsel grew its position in shares of Centene by 6.0% in the first quarter. Carnegie Investment Counsel now owns 3,811 shares of the company’s stock valued at $234,000 after purchasing an additional 215 shares during the last quarter. Allworth Financial LP grew its position in shares of Centene by 6.1% in the first quarter. Allworth Financial LP now owns 4,387 shares of the company’s stock valued at $270,000 after purchasing an additional 254 shares during the last quarter. Finally, Beverly Hills Private Wealth LLC grew its position in shares of Centene by 8.3% in the first quarter. Beverly Hills Private Wealth LLC now owns 4,002 shares of the company’s stock valued at $243,000 after purchasing an additional 308 shares during the last quarter. 93.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. UBS Group set a $42.00 price target on Centene and gave the company a “neutral” rating in a research report on Thursday. JPMorgan Chase & Co. decreased their target price on Centene from $48.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 29th. Bank of America downgraded Centene from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $52.00 to $30.00 in a research report on Wednesday, July 16th. Oppenheimer reissued an “outperform” rating and set a $45.00 target price on shares of Centene in a research report on Thursday. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Centene in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $40.53.

Centene Stock Up 0.9%

NYSE CNC opened at $35.34 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.10 and a debt-to-equity ratio of 0.83. The stock’s 50 day moving average is $33.57 and its two-hundred day moving average is $41.58. The company has a market capitalization of $17.36 billion, a price-to-earnings ratio of -3.27, a PEG ratio of 1.24 and a beta of 0.48. Centene Corporation has a 1-year low of $25.08 and a 1-year high of $66.81.

Centene (NYSE:CNC) last released 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. The company had revenue of $49.69 billion for the quarter, compared to the consensus estimate of $47.50 billion. Centene had a positive return on equity of 7.82% and a negative net margin of 2.85%.The company’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.62 earnings per share. Equities analysts forecast that Centene Corporation will post 6.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Sarah London acquired 19,230 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were bought at an average cost of $25.50 per share, with a total value of $490,365.00. Following the completion of the acquisition, the chief executive officer owned 845,275 shares of the company’s stock, valued at $21,554,512.50. This trade represents a 2.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.36% of the company’s stock.

About Centene

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.