Twin Capital Management Inc. Reduces Holdings in Centene Co. (NYSE:CNC)

Twin Capital Management Inc. decreased its position in shares of Centene Co. (NYSE:CNC) by 0.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 16,557 shares of the company’s stock after selling 150 shares during the period. Twin Capital Management Inc.’s holdings in Centene were worth $1,229,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Coppell Advisory Solutions Corp. acquired a new position in Centene during the 4th quarter worth $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in Centene during the 4th quarter worth $25,000. Operose Advisors LLC acquired a new position in Centene during the 3rd quarter worth $25,000. OFI Invest Asset Management acquired a new position in Centene during the 3rd quarter worth $26,000. Finally, Headinvest LLC acquired a new position in Centene during the 3rd quarter worth $35,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Wall Street Analyst Weigh In

CNC has been the subject of several research reports. Stephens reaffirmed an “equal weight” rating and issued a $85.00 price target (down from $92.00) on shares of Centene in a report on Thursday, March 21st. Wells Fargo & Company boosted their price target on shares of Centene from $89.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday. Truist Financial boosted their target price on shares of Centene from $83.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, December 21st. StockNews.com downgraded shares of Centene from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 28th. Finally, UBS Group boosted their target price on shares of Centene from $72.00 to $79.00 and gave the stock a “neutral” rating in a report on Thursday, December 21st. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Centene presently has a consensus rating of “Moderate Buy” and an average price target of $85.38.

Insiders Place Their Bets

In other Centene news, Director Lori Jean Robinson sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $77.41, for a total value of $774,100.00. Following the completion of the sale, the director now directly owns 11,455 shares of the company’s stock, valued at $886,731.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Lori Jean Robinson sold 10,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $77.41, for a total value of $774,100.00. Following the completion of the sale, the director now directly owns 11,455 shares in the company, valued at $886,731.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Kenneth J. Fasola sold 12,000 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $75.07, for a total transaction of $900,840.00. Following the completion of the sale, the president now owns 235,365 shares of the company’s stock, valued at $17,668,850.55. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Centene Stock Performance

Shares of CNC opened at $73.75 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $39.45 billion, a PE ratio of 15.02, a PEG ratio of 0.90 and a beta of 0.38. Centene Co. has a 52 week low of $60.83 and a 52 week high of $81.42. The company’s 50 day moving average price is $76.60 and its 200 day moving average price is $74.53.

Centene (NYSE:CNC) last posted its earnings results on Tuesday, February 6th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.43 by $0.02. The company had revenue of $39.46 billion during the quarter, compared to the consensus estimate of $36.16 billion. Centene had a net margin of 1.75% and a return on equity of 14.26%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.86 earnings per share. Research analysts expect that Centene Co. will post 6.75 EPS for the current fiscal year.

Centene 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.