Channing Capital Management LLC Has $6.40 Million Holdings in Centene Co. (NYSE:CNC)

Channing Capital Management LLC trimmed its position in Centene Co. (NYSE:CNC) by 8.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,205 shares of the company’s stock after selling 8,467 shares during the quarter. Channing Capital Management LLC’s holdings in Centene were worth $6,397,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in CNC. QV Investors Inc. grew its stake in Centene by 12.3% during the 4th quarter. QV Investors Inc. now owns 305,277 shares of the company’s stock valued at $22,655,000 after acquiring an additional 33,350 shares in the last quarter. AustralianSuper Pty Ltd increased its stake in Centene by 23.6% in the 4th quarter. AustralianSuper Pty Ltd now owns 1,215,997 shares of the company’s stock valued at $90,239,000 after buying an additional 231,931 shares during the period. Advisors Preferred LLC acquired a new stake in shares of Centene during the 4th quarter valued at $2,349,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Centene by 57.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 187,958 shares of the company’s stock valued at $13,941,000 after acquiring an additional 68,854 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its stake in shares of Centene by 17.7% in the fourth quarter. Handelsbanken Fonder AB now owns 286,205 shares of the company’s stock worth $21,239,000 after acquiring an additional 43,118 shares during the last quarter. 93.63% of the stock is owned by hedge funds and other institutional investors.

Centene Stock Performance

Shares of Centene stock traded up $0.45 during midday trading on Monday, hitting $75.26. The company had a trading volume of 1,922,049 shares, compared to its average volume of 3,180,963. The stock has a market cap of $40.16 billion, a PE ratio of 14.92, a P/E/G ratio of 0.96 and a beta of 0.41. Centene Co. has a 1-year low of $60.83 and a 1-year high of $81.42. The business’s 50 day simple moving average is $75.74 and its two-hundred day simple moving average is $74.90. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.17 and a quick ratio of 1.17.

Centene (NYSE:CNC) last posted its quarterly earnings data on Friday, April 26th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.17. Centene had a net margin of 1.76% and a return on equity of 14.19%. The company had revenue of $40.41 billion for the quarter, compared to the consensus estimate of $36.43 billion. During the same quarter in the previous year, the firm posted $2.11 EPS. The business’s revenue was up 3.9% compared to the same quarter last year. As a group, equities analysts predict that Centene Co. will post 6.82 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Lori Jean Robinson sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $77.41, for a total transaction of $774,100.00. Following the sale, the director now directly owns 11,455 shares in the company, valued at $886,731.55. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, President Kenneth J. Fasola sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $75.07, for a total value of $900,840.00. Following the sale, the president now directly owns 235,365 shares in the company, valued at approximately $17,668,850.55. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lori Jean Robinson sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $77.41, for a total value of $774,100.00. Following the transaction, the director now owns 11,455 shares of the company’s stock, valued at approximately $886,731.55. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CNC shares. Deutsche Bank Aktiengesellschaft boosted their target price on Centene from $81.00 to $82.00 and gave the company a “hold” rating in a research note on Tuesday, April 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price objective on shares of Centene in a research report on Thursday, April 4th. Stephens restated an “equal weight” rating and set a $85.00 price target (down previously from $92.00) on shares of Centene in a research note on Thursday, March 21st. Oppenheimer reaffirmed an “outperform” rating and issued a $110.00 price objective on shares of Centene in a research note on Monday, April 29th. Finally, Wells Fargo & Company raised their target price on Centene from $89.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Centene currently has an average rating of “Moderate Buy” and an average target price of $85.23.

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.