Asset Management One Co. Ltd. Has $12.43 Million Stock Position in Centene Corporation $CNC

Asset Management One Co. Ltd. reduced its position in Centene Corporation (NYSE:CNC) by 1.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 229,045 shares of the company’s stock after selling 2,999 shares during the period. Asset Management One Co. Ltd.’s holdings in Centene were worth $12,433,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. R Squared Ltd lifted its position in Centene by 9.0% during the second quarter. R Squared Ltd now owns 9,285 shares of the company’s stock worth $504,000 after acquiring an additional 765 shares during the last quarter. First Citizens Bank & Trust Co. lifted its position in Centene by 41.5% during the second quarter. First Citizens Bank & Trust Co. now owns 100,287 shares of the company’s stock worth $5,444,000 after acquiring an additional 29,423 shares during the last quarter. Forum Financial Management LP lifted its position in Centene by 15.4% during the second quarter. Forum Financial Management LP now owns 8,791 shares of the company’s stock worth $477,000 after acquiring an additional 1,172 shares during the last quarter. Ethic Inc. lifted its position in Centene by 7.7% during the second quarter. Ethic Inc. now owns 68,384 shares of the company’s stock worth $3,692,000 after acquiring an additional 4,867 shares during the last quarter. Finally, VCI Wealth Management LLC lifted its position in Centene by 14.7% during the second quarter. VCI Wealth Management LLC now owns 13,572 shares of the company’s stock worth $737,000 after acquiring an additional 1,736 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Sanford C. Bernstein cut their price objective on shares of Centene from $40.00 to $36.00 and set an “outperform” rating for the company in a research report on Friday, September 5th. Robert W. Baird dropped their price target on shares of Centene from $68.00 to $28.00 and set a “neutral” rating for the company in a research report on Friday, July 25th. TD Cowen reiterated a “hold” rating and issued a $33.00 price target (down from $73.00) on shares of Centene in a research report on Monday, July 21st. Barclays lifted their price target on shares of Centene from $33.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, September 12th. Finally, Bank of America downgraded shares of Centene from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $52.00 to $30.00 in a research report on Wednesday, July 16th. Three equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $39.50.

Centene Stock Performance

NYSE CNC opened at $34.07 on Monday. The firm’s fifty day moving average price is $33.01 and its two-hundred day moving average price is $42.56. The stock has a market cap of $16.73 billion, a PE ratio of 8.43, a PEG ratio of 1.34 and a beta of 0.48. Centene Corporation has a fifty-two week low of $25.08 and a fifty-two week high of $70.11. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.10 and a current ratio of 1.10.

Centene (NYSE:CNC) last posted its earnings results on Friday, July 25th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.39). The company had revenue of $48.74 billion for the quarter, compared to the consensus estimate of $44.71 billion. Centene had a return on equity of 9.57% and a net margin of 1.15%.The business’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.42 EPS. On average, equities analysts expect that Centene Corporation will post 6.86 EPS for the current fiscal year.

Insider Buying and Selling at Centene

In related news, CEO Sarah London bought 19,230 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were purchased at an average price of $25.50 per share, with a total value of $490,365.00. Following the completion of the purchase, the chief executive officer owned 845,275 shares in the company, valued at $21,554,512.50. This represents a 2.33% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.36% of the company’s stock.

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.