Centene Co. (NYSE:CNC) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its position in shares of Centene Co. (NYSE:CNC) by 2.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 95,916 shares of the company’s stock after selling 2,106 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Centene were worth $5,811,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its holdings in shares of Centene by 693.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,705,936 shares of the company’s stock worth $103,346,000 after acquiring an additional 1,490,935 shares during the period. Harris Associates L P lifted its holdings in shares of Centene by 5.7% during the 3rd quarter. Harris Associates L P now owns 26,314,183 shares of the company’s stock worth $1,980,932,000 after acquiring an additional 1,420,825 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Centene by 15.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 3,203,049 shares of the company’s stock worth $241,126,000 after acquiring an additional 428,100 shares during the period. KBC Group NV lifted its holdings in shares of Centene by 27.3% during the 4th quarter. KBC Group NV now owns 1,602,533 shares of the company’s stock worth $97,082,000 after acquiring an additional 343,559 shares during the period. Finally, Worldquant Millennium Advisors LLC purchased a new position in shares of Centene during the 3rd quarter worth about $19,464,000. 93.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Truist Financial cut their price objective on shares of Centene from $89.00 to $84.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Wells Fargo & Company cut their price target on shares of Centene from $76.00 to $72.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 price target on shares of Centene in a report on Wednesday, December 11th. Argus lowered shares of Centene from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, StockNews.com lowered shares of Centene from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Centene currently has a consensus rating of “Moderate Buy” and an average target price of $79.92.

Centene Trading Up 0.8 %

CNC opened at $58.65 on Tuesday. The firm has a market capitalization of $29.09 billion, a P/E ratio of 9.40, a P/E/G ratio of 0.80 and a beta of 0.45. The firm’s 50 day moving average is $60.95 and its 200-day moving average is $64.96. Centene Co. has a 52-week low of $55.03 and a 52-week high of $80.59. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.70.

Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.31. Centene had a net margin of 2.03% and a return on equity of 13.85%. The company had revenue of $40.81 billion for the quarter, compared to analyst estimates of $38.78 billion. During the same quarter last year, the firm posted $0.45 earnings per share. The business’s quarterly revenue was up 3.4% on a year-over-year basis. Analysts expect that Centene Co. will post 6.86 EPS for the current fiscal year.

Insider Transactions at Centene

In related news, Director Thomas Greco purchased 17,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was acquired at an average price of $59.75 per share, with a total value of $1,015,750.00. Following the completion of the transaction, the director now owns 19,309 shares of the company’s stock, valued at $1,153,712.75. This represents a 736.25 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Theodore R. Samuels II purchased 5,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were bought at an average cost of $58.86 per share, with a total value of $294,300.00. Following the transaction, the director now directly owns 23,000 shares of the company’s stock, valued at approximately $1,353,780. This represents a 27.78 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 23,693 shares of company stock valued at $1,409,954. 0.33% of the stock is currently owned by corporate 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.