Corient Private Wealth LLC Decreases Stock Holdings in Centene Co. (NYSE:CNC)

Corient Private Wealth LLC decreased its holdings in Centene Co. (NYSE:CNC) by 9.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 83,791 shares of the company’s stock after selling 9,243 shares during the quarter. Corient Private Wealth LLC’s holdings in Centene were worth $5,076,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CNC. Envestnet Portfolio Solutions Inc. increased its position in shares of Centene by 3.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 72,600 shares of the company’s stock valued at $4,398,000 after purchasing an additional 2,689 shares during the last quarter. Natixis Advisors LLC increased its position in shares of Centene by 10.4% during the 4th quarter. Natixis Advisors LLC now owns 457,928 shares of the company’s stock valued at $27,742,000 after purchasing an additional 42,968 shares during the last quarter. Catalyst Funds Management Pty Ltd increased its position in shares of Centene by 166.7% during the 4th quarter. Catalyst Funds Management Pty Ltd now owns 19,200 shares of the company’s stock valued at $1,163,000 after purchasing an additional 12,000 shares during the last quarter. Poinciana Advisors Group LLC purchased a new stake in shares of Centene during the 4th quarter valued at about $426,000. Finally, Thompson Siegel & Walmsley LLC increased its position in shares of Centene by 18.3% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 1,091,175 shares of the company’s stock valued at $66,103,000 after purchasing an additional 168,856 shares during the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene Trading Down 1.2 %

CNC stock opened at $58.88 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.11 and a quick ratio of 1.10. The company has a market capitalization of $29.21 billion, a price-to-earnings ratio of 9.44, a PEG ratio of 0.80 and a beta of 0.40. Centene Co. has a 1-year low of $55.03 and a 1-year high of $80.59. The business has a 50 day simple moving average of $60.27 and a two-hundred day simple moving average of $63.27.

Centene (NYSE:CNC) last posted its earnings results on Tuesday, February 4th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.31. The firm had revenue of $40.81 billion during the quarter, compared to the consensus estimate of $38.78 billion. Centene had a return on equity of 13.85% and a net margin of 2.03%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.45 EPS. Research analysts anticipate that Centene Co. will post 6.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CNC shares. Barclays upped their price target on shares of Centene from $91.00 to $93.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Argus lowered shares of Centene from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. UBS Group raised shares of Centene from a “neutral” rating to a “buy” rating and increased their target price for the stock from $79.00 to $80.00 in a report on Friday, December 13th. Oppenheimer reduced their target price on shares of Centene from $95.00 to $85.00 and set an “outperform” rating for the company in a report on Friday, December 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 target price on shares of Centene in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.92.

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.