Resona Asset Management Co. Ltd. Makes New $9.12 Million Investment in Centene Co. (NYSE:CNC)

Resona Asset Management Co. Ltd. acquired a new stake in Centene Co. (NYSE:CNC) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 150,456 shares of the company’s stock, valued at approximately $9,115,000.

A number of other institutional investors have also made changes to their positions in the business. IHT Wealth Management LLC boosted its stake in shares of Centene by 21.5% during the 3rd quarter. IHT Wealth Management LLC now owns 7,052 shares of the company’s stock worth $528,000 after buying an additional 1,250 shares during the last quarter. Stifel Financial Corp boosted its position in Centene by 1.1% during the third quarter. Stifel Financial Corp now owns 180,478 shares of the company’s stock valued at $13,586,000 after purchasing an additional 2,023 shares during the last quarter. EP Wealth Advisors LLC increased its position in shares of Centene by 84.8% during the 3rd quarter. EP Wealth Advisors LLC now owns 25,250 shares of the company’s stock worth $1,901,000 after purchasing an additional 11,583 shares during the last quarter. iSAM Funds UK Ltd bought a new stake in shares of Centene during the 3rd quarter worth approximately $221,000. Finally, XTX Topco Ltd bought a new position in shares of Centene in the third quarter valued at $1,047,000. Institutional investors own 93.63% of the company’s stock.

Analyst Ratings Changes

CNC has been the subject of a number of recent analyst reports. Barclays increased their price target on shares of Centene from $91.00 to $93.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Oppenheimer reduced their price target on Centene from $95.00 to $85.00 and set an “outperform” rating for the company in a report on Friday, December 13th. Stephens dropped their price objective on Centene from $75.00 to $73.00 and set an “equal weight” rating on the stock in a research note on Friday, December 13th. Truist Financial decreased their target price on Centene from $89.00 to $84.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Finally, Wells Fargo & Company reduced their price objective on shares of Centene from $76.00 to $72.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. One research 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’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $79.92.

Centene Price Performance

NYSE:CNC opened at $61.27 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 1.11. The firm has a market cap of $30.39 billion, a price-to-earnings ratio of 9.82, a P/E/G ratio of 0.80 and a beta of 0.53. Centene Co. has a 52 week low of $55.03 and a 52 week high of $80.59. The firm’s 50-day simple moving average is $59.63 and its 200 day simple moving average is $62.06.

Centene (NYSE:CNC) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.31. The company had revenue of $40.81 billion during the quarter, compared to the consensus estimate of $38.78 billion. Centene had a net margin of 2.03% and a return on equity of 13.85%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.45 earnings per share. As a group, sell-side analysts predict that Centene Co. will post 6.86 earnings per share for the current year.

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.