Centene Corporation $CNC Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. lessened its holdings in Centene Corporation (NYSE:CNC) by 43.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,697 shares of the company’s stock after selling 9,836 shares during the quarter. Securian Asset Management Inc.’s holdings in Centene were worth $522,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Addison Advisors LLC grew its holdings in Centene by 455.6% during the third quarter. Addison Advisors LLC now owns 739 shares of the company’s stock worth $26,000 after acquiring an additional 606 shares during the period. SBI Securities Co. Ltd. lifted its holdings in Centene by 118.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock valued at $31,000 after acquiring an additional 406 shares during the period. GoalVest Advisory LLC purchased a new stake in shares of Centene during the 4th quarter worth $37,000. Union Bancaire Privee UBP SA acquired a new position in shares of Centene during the 4th quarter worth $37,000. Finally, WPG Advisers LLC increased its holdings in shares of Centene by 44.5% in the 3rd quarter. WPG Advisers LLC now owns 915 shares of the company’s stock valued at $33,000 after purchasing an additional 282 shares in the last quarter. 93.63% of the stock is owned by hedge funds and other institutional investors.

Centene Stock Performance

Shares of CNC opened at $58.25 on Friday. The company has a 50-day moving average of $41.26 and a two-hundred day moving average of $40.81. The stock has a market cap of $28.76 billion, a P/E ratio of -4.43, a PEG ratio of 1.13 and a beta of 1.06. Centene Corporation has a 12-month low of $25.08 and a 12-month high of $62.21. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.76.

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

Wall Street Analyst Weigh In

A number of research firms recently commented on CNC. Cantor Fitzgerald raised shares of Centene from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $41.00 to $60.00 in a report on Tuesday, April 28th. Argus upgraded shares of Centene to a “hold” rating in a research report on Monday, February 9th. JPMorgan Chase & Co. upped their price target on Centene from $41.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. Morgan Stanley raised their price objective on Centene from $45.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Centene from $39.00 to $53.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $53.82.

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.