Centene Corporation $CNC Holdings Trimmed by LSV Asset Management

LSV Asset Management lowered its position in shares of Centene Corporation (NYSE:CNC) by 46.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,371,261 shares of the company’s stock after selling 2,061,964 shares during the quarter. LSV Asset Management owned 0.48% of Centene worth $97,577,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CNC. Baird Financial Group Inc. bought a new position in Centene during the first quarter valued at about $236,000. Sivia Capital Partners LLC boosted its stake in Centene by 80.0% during the second quarter. Sivia Capital Partners LLC now owns 9,710 shares of the company’s stock valued at $527,000 after buying an additional 4,315 shares in the last quarter. CW Advisors LLC boosted its stake in Centene by 20.3% during the second quarter. CW Advisors LLC now owns 4,863 shares of the company’s stock valued at $264,000 after buying an additional 820 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Centene by 6.1% in the 2nd quarter. NewEdge Advisors LLC now owns 44,945 shares of the company’s stock valued at $2,440,000 after purchasing an additional 2,582 shares during the period. Finally, Treasurer of the State of North Carolina boosted its position in shares of Centene by 0.4% in the 2nd quarter. Treasurer of the State of North Carolina now owns 231,938 shares of the company’s stock valued at $12,590,000 after purchasing an additional 967 shares during the period. Institutional investors own 93.63% of the company’s stock.

Centene Trading Up 2.4%

NYSE:CNC opened at $59.15 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.12 and a quick ratio of 1.12. Centene Corporation has a fifty-two week low of $25.08 and a fifty-two week high of $60.76. The stock’s 50-day moving average is $43.06 and its two-hundred day moving average is $41.63. The stock has a market cap of $29.21 billion, a PE ratio of -4.50, a price-to-earnings-growth ratio of 1.14 and a beta of 1.06.

Centene (NYSE:CNC) last released its earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $2.23 by $1.14. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.The company had revenue of $49.94 billion for the quarter, compared to analysts’ expectations of $47.53 billion. During the same quarter in the previous year, the business posted $2.90 EPS. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities research analysts forecast that Centene Corporation will post 3.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CNC shares. Bank of America increased their price target on Centene from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday. UBS Group reiterated a “neutral” rating and issued a $61.00 price target (up from $55.00) on shares of Centene in a research report on Friday. JPMorgan Chase & Co. increased their price target on Centene from $41.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. Robert W. Baird increased their price target on Centene from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Wednesday, April 15th. Finally, Jefferies Financial Group increased their price target on Centene from $39.00 to $48.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $56.94.

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.