Centene Corporation $CNC Shares Sold by Private Management Group Inc.

Private Management Group Inc. cut its holdings in Centene Corporation (NYSE:CNC) by 27.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 560,998 shares of the company’s stock after selling 211,447 shares during the period. Private Management Group Inc. owned 0.11% of Centene worth $23,085,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CNC. Addison Advisors LLC raised its holdings in Centene by 455.6% in the 3rd quarter. Addison Advisors LLC now owns 739 shares of the company’s stock valued at $26,000 after acquiring an additional 606 shares during the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of Centene by 118.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock worth $31,000 after buying an additional 406 shares during the last quarter. Ameriflex Group Inc. increased its holdings in shares of Centene by 152.5% during the 3rd quarter. Ameriflex Group Inc. now owns 1,010 shares of the company’s stock worth $36,000 after buying an additional 610 shares during the last quarter. GoalVest Advisory LLC acquired a new stake in shares of Centene during the 4th quarter worth $37,000. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Centene during the 4th quarter worth $37,000. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Stock Down 2.8%

Shares of NYSE CNC opened at $63.53 on Friday. Centene Corporation has a 12-month low of $25.08 and a 12-month high of $66.55. The company has a market cap of $31.37 billion, a P/E ratio of -4.83, a P/E/G ratio of 0.51 and a beta of 1.09. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.76. The stock has a fifty day moving average price of $50.81 and a 200 day moving average price of $44.17.

Centene (NYSE:CNC) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $1.14. The firm had revenue of $49.94 billion during the quarter, compared to the consensus estimate of $47.53 billion. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.90 EPS. Research analysts anticipate that Centene Corporation will post 3.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Robert W. Baird upped their price objective on Centene from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, April 15th. Raymond James Financial set a $60.00 price objective on Centene in a report on Wednesday, April 29th. Truist Financial upped their price objective on Centene from $58.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Wall Street Zen upgraded Centene from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Morgan Stanley upped their price objective on Centene from $50.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Centene currently has a consensus rating of “Hold” and a consensus price target of $60.24.

Centene 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.