Asset Management One Co. Ltd. Sells 2,881 Shares of Centene Co. (NYSE:CNC)

Asset Management One Co. Ltd. lessened its holdings in shares of Centene Co. (NYSE:CNCGet Rating) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 239,784 shares of the company’s stock after selling 2,881 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Centene were worth $18,657,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNC. Cibc World Market Inc. raised its position in Centene by 1,401.4% during the first quarter. Cibc World Market Inc. now owns 46,333 shares of the company’s stock valued at $3,901,000 after acquiring an additional 43,247 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in Centene by 7.2% during the first quarter. Vontobel Holding Ltd. now owns 9,734 shares of the company’s stock valued at $841,000 after purchasing an additional 657 shares during the last quarter. Blair William & Co. IL grew its holdings in Centene by 104.7% during the first quarter. Blair William & Co. IL now owns 43,760 shares of the company’s stock valued at $3,684,000 after purchasing an additional 22,382 shares during the last quarter. Brighton Jones LLC acquired a new position in Centene during the first quarter valued at approximately $203,000. Finally, Candriam Luxembourg S.C.A. grew its holdings in Centene by 10.0% during the first quarter. Candriam Luxembourg S.C.A. now owns 37,404 shares of the company’s stock valued at $3,149,000 after purchasing an additional 3,414 shares during the last quarter. Institutional investors own 93.28% of the company’s stock.

Analyst Upgrades and Downgrades

CNC has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target on Centene from $99.00 to $94.00 in a report on Wednesday, October 26th. Barclays lowered their price objective on shares of Centene from $107.00 to $100.00 and set an “overweight” rating on the stock in a research note on Monday, October 3rd. JPMorgan Chase & Co. lowered their price objective on shares of Centene from $103.00 to $98.00 and set an “overweight” rating on the stock in a research note on Friday, January 6th. StockNews.com upgraded shares of Centene from a “buy” rating to a “strong-buy” rating in a research note on Monday, January 16th. Finally, Credit Suisse Group raised their price objective on shares of Centene from $104.00 to $106.00 and gave the stock an “outperform” rating in a research note on Monday, December 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $101.35.

Centene Stock Performance

Centene stock opened at $75.76 on Wednesday. The stock has a market capitalization of $42.90 billion, a price-to-earnings ratio of 22.09, a P/E/G ratio of 0.89 and a beta of 0.60. Centene Co. has a 12-month low of $73.19 and a 12-month high of $98.53. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.71. The stock has a 50-day simple moving average of $81.37 and a 200 day simple moving average of $84.56.

Centene (NYSE:CNCGet Rating) last announced its quarterly earnings data on Tuesday, October 25th. The company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.08. The firm had revenue of $35.84 billion during the quarter, compared to analysts’ expectations of $35.45 billion. Centene had a return on equity of 13.08% and a net margin of 1.42%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.26 EPS. On average, research analysts anticipate that Centene Co. will post 5.72 earnings per share for the current fiscal year.

Centene announced that its Board of Directors has authorized a stock buyback program on Friday, December 16th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

About Centene

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Centene Corporation operates as a multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. Its Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which cover dually eligible individuals, as well as aged, blind, or disabled programs.

Further Reading

Institutional Ownership by Quarter for Centene (NYSE:CNC)

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