Twin Capital Management Inc. Trims Stock Position in Centene Co. (NYSE:CNC)

Twin Capital Management Inc. lowered its position in shares of Centene Co. (NYSE:CNC) by 2.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,782 shares of the company’s stock after selling 393 shares during the period. Twin Capital Management Inc.’s holdings in Centene were worth $895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CNC. Osborne Partners Capital Management LLC lifted its stake in shares of Centene by 5.0% in the 4th quarter. Osborne Partners Capital Management LLC now owns 221,156 shares of the company’s stock valued at $13,398,000 after purchasing an additional 10,515 shares during the last quarter. Perpetual Ltd lifted its position in Centene by 68.4% in the fourth quarter. Perpetual Ltd now owns 36,126 shares of the company’s stock valued at $2,189,000 after buying an additional 14,671 shares during the last quarter. Polianta Ltd increased its position in shares of Centene by 41.7% during the fourth quarter. Polianta Ltd now owns 22,100 shares of the company’s stock valued at $1,338,000 after acquiring an additional 6,500 shares during the last quarter. KBC Group NV raised its stake in shares of Centene by 27.3% in the 4th quarter. KBC Group NV now owns 1,602,533 shares of the company’s stock valued at $97,082,000 after acquiring an additional 343,559 shares during the period. Finally, Washington Capital Management Inc. lifted its holdings in shares of Centene by 40.9% in the 4th quarter. Washington Capital Management Inc. now owns 19,130 shares of the company’s stock worth $1,159,000 after acquiring an additional 5,550 shares during the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Analyst Upgrades and Downgrades

CNC has been the topic of a number of research analyst reports. Wells Fargo & Company cut their target price on Centene from $76.00 to $72.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Oppenheimer cut their price objective on Centene from $95.00 to $85.00 and set an “outperform” rating on the stock in a report on Friday, December 13th. UBS Group upgraded Centene from a “neutral” rating to a “buy” rating and raised their target price for the company from $79.00 to $80.00 in a report on Friday, December 13th. Truist Financial cut their price target on shares of Centene from $89.00 to $84.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. Finally, Barclays lifted their price objective on shares of Centene from $91.00 to $93.00 and gave the company an “overweight” rating in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Centene has a consensus rating of “Moderate Buy” and a consensus price target of $79.92.

Centene Trading Down 1.1 %

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

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

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.