Nisa Investment Advisors LLC Cuts Stock Holdings in Centene Co. (NYSE:CNC)

Nisa Investment Advisors LLC lowered its holdings in shares of Centene Co. (NYSE:CNC) by 9.3% during the second quarter, HoldingsChannel.com reports. The firm owned 229,957 shares of the company’s stock after selling 23,540 shares during the period. Nisa Investment Advisors LLC’s holdings in Centene were worth $15,246,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CNC. International Assets Investment Management LLC purchased a new position in Centene during the fourth quarter valued at $28,140,000. Daiwa Securities Group Inc. raised its holdings in shares of Centene by 24.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 56,771 shares of the company’s stock valued at $4,213,000 after acquiring an additional 11,067 shares during the last quarter. Western Wealth Management LLC purchased a new position in shares of Centene in the fourth quarter valued at approximately $209,000. Fidelis Capital Partners LLC purchased a new stake in shares of Centene during the fourth quarter worth approximately $234,000. Finally, Resonant Capital Advisors LLC raised its stake in Centene by 7.5% in the 4th quarter. Resonant Capital Advisors LLC now owns 4,305 shares of the company’s stock valued at $319,000 after purchasing an additional 301 shares during the last quarter. 93.63% of the stock is owned by institutional investors and hedge funds.

Centene Stock Up 0.2 %

NYSE:CNC opened at $78.29 on Tuesday. Centene Co. has a 52 week low of $60.83 and a 52 week high of $81.42. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.64. The stock’s fifty day moving average is $70.25 and its two-hundred day moving average is $73.76. The stock has a market capitalization of $41.78 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 1.00 and a beta of 0.50.

Centene (NYSE:CNC) last issued its quarterly earnings results on Friday, July 26th. The company reported $2.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). Centene had a return on equity of 14.45% and a net margin of 1.79%. The business had revenue of $39.84 billion for the quarter, compared to analysts’ expectations of $36.83 billion. During the same quarter last year, the company earned $2.10 earnings per share. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. Research analysts anticipate that Centene Co. will post 6.84 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Truist Financial dropped their target price on shares of Centene from $92.00 to $89.00 and set a “buy” rating for the company in a report on Monday, July 15th. JPMorgan Chase & Co. dropped their price target on Centene from $85.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. StockNews.com raised Centene from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Finally, TD Cowen boosted their price target on shares of Centene from $80.00 to $89.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $84.36.

Centene Company 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.