APG Asset Management US Inc. Trims Stake in Centene Co. (NYSE:CNC)

APG Asset Management US Inc. lowered its stake in shares of Centene Co. (NYSE:CNC) by 12.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,871 shares of the company’s stock after selling 1,553 shares during the quarter. APG Asset Management US Inc.’s holdings in Centene were worth $659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Capital Advisors Ltd. LLC grew its holdings in Centene by 75.3% in the fourth quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company’s stock worth $25,000 after purchasing an additional 177 shares during the period. Hurley Capital LLC purchased a new stake in Centene in the fourth quarter worth about $26,000. Rialto Wealth Management LLC purchased a new stake in Centene in the fourth quarter worth about $30,000. OFI Invest Asset Management purchased a new stake in Centene in the fourth quarter worth about $33,000. Finally, SRS Capital Advisors Inc. grew its holdings in Centene by 73.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 631 shares of the company’s stock worth $38,000 after purchasing an additional 267 shares during the period. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Wall Street Analyst Weigh In

CNC has been the topic of a number of recent research reports. Wells Fargo & Company cut their price objective 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. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $75.00 price target (down previously from $80.00) on shares of Centene in a report on Tuesday, December 17th. UBS Group upgraded shares of Centene from a “neutral” rating to a “buy” rating and increased their price target 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 report on Friday, December 13th. Finally, Argus cut shares of Centene from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Seven analysts have rated the stock with 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 price target of $80.85.

Centene Stock Up 0.4 %

CNC opened at $62.65 on Thursday. The company has a current ratio of 1.11, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70. Centene Co. has a 1-year low of $55.03 and a 1-year high of $80.59. The company has a market capitalization of $31.08 billion, a PE ratio of 10.04, a PEG ratio of 0.80 and a beta of 0.53. The firm’s 50 day simple moving average is $59.49 and its two-hundred day simple moving average is $61.89.

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