Mutual of America Capital Management LLC Purchases 445 Shares of Centene Co. (NYSE:CNC)

Mutual of America Capital Management LLC raised its position in shares of Centene Co. (NYSE:CNC) by 0.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 99,575 shares of the company’s stock after purchasing an additional 445 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Centene were worth $7,815,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CNC. Turtle Creek Wealth Advisors LLC purchased a new stake in Centene during the fourth quarter valued at approximately $25,000. Rise Advisors LLC bought a new stake in Centene during the first quarter valued at about $25,000. Riggs Asset Managment Co. Inc. purchased a new stake in Centene in the fourth quarter worth about $32,000. Headinvest LLC bought a new position in shares of Centene in the third quarter worth about $35,000. Finally, Neo Ivy Capital Management purchased a new position in shares of Centene during the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on CNC. StockNews.com downgraded shares of Centene from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 29th. Wells Fargo & Company upped their target price on shares of Centene from $89.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Stephens restated an “equal weight” rating and issued a $83.00 price objective on shares of Centene in a research report on Thursday, May 30th. Baird R W upgraded Centene to a “hold” rating in a research report on Thursday, May 30th. Finally, Robert W. Baird assumed coverage on Centene in a research note on Thursday, May 30th. They issued a “neutral” rating and a $83.00 price target for the company. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Centene presently has an average rating of “Hold” and a consensus price target of $85.54.

Insider Buying and Selling at Centene

In other Centene news, President Kenneth J. Fasola sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $77.62, for a total transaction of $620,960.00. Following the completion of the transaction, the president now owns 300,357 shares in the company, valued at $23,313,710.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, President Kenneth J. Fasola sold 8,000 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $77.62, for a total transaction of $620,960.00. Following the completion of the sale, the president now directly owns 300,357 shares of the company’s stock, valued at $23,313,710.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher J. Coughlin sold 878 shares of Centene stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $76.75, for a total transaction of $67,386.50. Following the sale, the director now owns 25,504 shares of the company’s stock, valued at approximately $1,957,432. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Centene Price Performance

Shares of Centene stock traded down $0.16 during trading hours on Monday, reaching $66.21. The company’s stock had a trading volume of 2,750,010 shares, compared to its average volume of 3,364,136. 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 Co. has a one year low of $60.83 and a one year high of $81.42. The firm has a 50 day moving average price of $71.52 and a 200-day moving average price of $74.53. The stock has a market cap of $35.33 billion, a P/E ratio of 13.16, a P/E/G ratio of 0.85 and a beta of 0.50.

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

About Centene

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.