Centene Co. (NYSE:CNC) Stock Position Lifted by Intech Investment Management LLC

Intech Investment Management LLC increased its position in Centene Co. (NYSE:CNC) by 4,390.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 687,814 shares of the company’s stock after buying an additional 672,498 shares during the quarter. Centene comprises approximately 1.2% of Intech Investment Management LLC’s holdings, making the stock its 26th largest position. Intech Investment Management LLC owned approximately 0.14% of Centene worth $41,668,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Capital Advisors Ltd. LLC lifted its holdings in shares of Centene by 75.3% during the fourth quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company’s stock valued at $25,000 after purchasing an additional 177 shares during the last quarter. Rialto Wealth Management LLC acquired a new stake in shares of Centene during the fourth quarter worth approximately $30,000. OFI Invest Asset Management acquired a new stake in shares of Centene during the fourth quarter worth approximately $33,000. SRS Capital Advisors Inc. lifted its stake in Centene by 73.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 631 shares of the company’s stock valued at $38,000 after acquiring an additional 267 shares during the last quarter. Finally, Riverview Trust Co lifted its stake in Centene by 172.7% in the fourth quarter. Riverview Trust Co now owns 758 shares of the company’s stock valued at $46,000 after acquiring an additional 480 shares during the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Insider Activity at Centene

In other news, Director Thomas Greco bought 17,000 shares of the stock in a transaction on Wednesday, December 18th. The stock was acquired at an average price of $59.75 per share, with a total value of $1,015,750.00. Following the acquisition, the director now directly owns 19,309 shares in the company, valued at approximately $1,153,712.75. This trade represents a 736.25 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Centene Stock Up 1.9 %

Shares of CNC stock opened at $59.28 on Tuesday. The stock has a market cap of $29.41 billion, a price-to-earnings ratio of 9.50, a PEG ratio of 0.80 and a beta of 0.40. 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 Co. has a 52-week low of $55.03 and a 52-week high of $80.59. The firm’s 50-day moving average is $60.53 and its 200-day moving average is $63.60.

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. The business had revenue of $40.81 billion during the quarter, compared to analysts’ expectations of $38.78 billion. Centene had a return on equity of 13.85% and a net margin of 2.03%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the firm posted $0.45 EPS. Sell-side analysts predict that Centene Co. will post 6.86 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Truist Financial reduced their price objective on shares of Centene from $89.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Oppenheimer dropped their target price on shares of Centene from $95.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday, December 13th. UBS Group raised 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. Barclays increased their price target on shares of Centene from $91.00 to $93.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and issued a $75.00 price objective (down previously from $80.00) on shares of Centene in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Centene has an average rating of “Moderate Buy” and a consensus price target of $79.92.

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.