TIAA CREF Investment Management LLC lessened its position in shares of Centene Corp (NYSE:CNC) by 27.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,462,447 shares of the company’s stock after selling 554,042 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.84% of Centene worth $147,532,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Focused Wealth Management Inc lifted its stake in shares of Centene by 900.0% in the fourth quarter. Focused Wealth Management Inc now owns 1,000 shares of the company’s stock worth $101,000 after buying an additional 900 shares in the last quarter. Financial Gravity Companies Inc. purchased a new position in shares of Centene in the fourth quarter worth about $112,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Centene in the fourth quarter worth about $131,000. Tower Research Capital LLC TRC purchased a new position in shares of Centene in the fourth quarter worth about $145,000. Finally, Advisors Preferred LLC purchased a new position in shares of Centene in the fourth quarter worth about $159,000. Institutional investors own 90.54% of the company’s stock.
Centene stock traded down $1.92 during trading on Friday, reaching $107.03. The stock had a trading volume of 1,142,546 shares, compared to its average volume of 1,581,461. The company has a market capitalization of $18,759.47, a P/E ratio of 21.28, a P/E/G ratio of 1.02 and a beta of 0.75. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.68. Centene Corp has a 52-week low of $70.04 and a 52-week high of $112.42.
Centene (NYSE:CNC) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.03. The business had revenue of $12.81 billion during the quarter, compared to the consensus estimate of $12.25 billion. Centene had a net margin of 1.71% and a return on equity of 13.68%. The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.19 EPS. research analysts anticipate that Centene Corp will post 7.2 earnings per share for the current fiscal year.
CNC has been the subject of several recent analyst reports. Oppenheimer restated a “buy” rating and set a $111.00 price objective on shares of Centene in a research report on Friday, December 15th. Cantor Fitzgerald restated a “buy” rating and set a $115.00 price objective on shares of Centene in a research report on Monday, December 18th. Piper Jaffray restated a “buy” rating and set a $134.00 price objective on shares of Centene in a research report on Monday, December 18th. Jefferies Group raised their price objective on shares of Centene from $112.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, December 18th. Finally, Zacks Investment Research cut shares of Centene from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 22nd. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $110.28.
In related news, EVP Christopher D. Bowers sold 4,800 shares of the company’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $102.27, for a total value of $490,896.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert K. Ditmore sold 8,750 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $104.13, for a total transaction of $911,137.50. The disclosure for this sale can be found here. Insiders have sold a total of 22,300 shares of company stock valued at $2,314,659 in the last 90 days. Insiders own 3.00% of the company’s stock.
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Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.
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