Livforsakringsbolaget Skandia Omsesidigt Has $95,000 Position in Centene Co. (NYSE:CNC)

Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Centene Co. (NYSE:CNC) by 57.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,285 shares of the company’s stock after purchasing an additional 471 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Centene were worth $95,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. QV Investors Inc. increased its stake in Centene by 12.3% during the 4th quarter. QV Investors Inc. now owns 305,277 shares of the company’s stock worth $22,655,000 after acquiring an additional 33,350 shares during the period. AustralianSuper Pty Ltd increased its stake in shares of Centene by 23.6% in the 4th quarter. AustralianSuper Pty Ltd now owns 1,215,997 shares of the company’s stock valued at $90,239,000 after purchasing an additional 231,931 shares during the last quarter. Advisors Preferred LLC bought a new position in shares of Centene in the 4th quarter valued at $2,349,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Centene by 57.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 187,958 shares of the company’s stock valued at $13,941,000 after purchasing an additional 68,854 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its stake in shares of Centene by 8.2% in the 3rd quarter. Teacher Retirement System of Texas now owns 186,080 shares of the company’s stock valued at $12,817,000 after purchasing an additional 14,070 shares during the last quarter. 93.63% of the stock is owned by institutional investors and hedge funds.

Centene Stock Up 2.4 %

NYSE:CNC opened at $73.75 on Friday. The firm has a market capitalization of $39.45 billion, a P/E ratio of 15.02, a PEG ratio of 0.90 and a beta of 0.38. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.11 and a quick ratio of 1.11. The company’s fifty day moving average price is $76.60 and its 200-day moving average price is $74.53. Centene Co. has a 1-year low of $60.83 and a 1-year high of $81.42.

Centene (NYSE:CNC) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The firm had revenue of $39.46 billion for the quarter, compared to analyst estimates of $36.16 billion. Centene had a net margin of 1.75% and a return on equity of 14.26%. Centene’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 earnings per share. As a group, equities research analysts anticipate that Centene Co. will post 6.75 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CNC. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price target on shares of Centene in a research note on Thursday, April 4th. UBS Group boosted their price objective on Centene from $72.00 to $79.00 and gave the stock a “neutral” rating in a research report on Thursday, December 21st. Barclays began coverage on Centene in a research report on Wednesday, March 6th. They set an “overweight” rating and a $101.00 price objective on the stock. Truist Financial boosted their price objective on Centene from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, December 21st. Finally, Wells Fargo & Company boosted their price objective on Centene from $89.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $85.38.

Insider Buying and Selling

In other Centene news, President Kenneth J. Fasola sold 12,000 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $75.07, for a total value of $900,840.00. Following the sale, the president now directly owns 235,365 shares of the company’s stock, valued at approximately $17,668,850.55. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, President Kenneth J. Fasola sold 12,000 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $75.07, for a total value of $900,840.00. Following the completion of the transaction, the president now owns 235,365 shares in the company, valued at approximately $17,668,850.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lori Jean Robinson sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $77.41, for a total transaction of $774,100.00. Following the transaction, the director now owns 11,455 shares of the company’s stock, valued at $886,731.55. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

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.