Teacher Retirement System of Texas Has $23.63 Million Stock Position in Centene Co. (NYSE:CNC)

Teacher Retirement System of Texas grew its stake in shares of Centene Co. (NYSE:CNC) by 57.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 390,002 shares of the company’s stock after purchasing an additional 142,195 shares during the period. Teacher Retirement System of Texas owned approximately 0.08% of Centene worth $23,626,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CNC. Capital Advisors Ltd. LLC raised 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 period. Rialto Wealth Management LLC acquired a new stake in shares of Centene in the 4th quarter worth about $30,000. OFI Invest Asset Management acquired a new stake in shares of Centene in the 4th quarter worth about $33,000. SRS Capital Advisors Inc. raised its holdings in shares of Centene by 73.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 631 shares of the company’s stock worth $38,000 after acquiring an additional 267 shares during the last quarter. Finally, Riverview Trust Co raised its holdings in shares of Centene by 172.7% in the 4th quarter. Riverview Trust Co now owns 758 shares of the company’s stock worth $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.

Centene Stock Down 1.2 %

CNC opened at $58.88 on Friday. The company has a 50 day moving average of $60.27 and a 200 day moving average of $63.27. The company has a market cap of $29.21 billion, a PE ratio of 9.44, a price-to-earnings-growth ratio of 0.80 and a beta of 0.40. Centene Co. has a 12 month low of $55.03 and a 12 month high of $80.59. 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 (NYSE:CNC) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.80 EPS for the quarter, topping the consensus estimate 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%. Centene’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the firm earned $0.45 EPS. On average, sell-side analysts expect that Centene Co. will post 6.86 EPS for the current year.

Wall Street Analyst Weigh In

CNC has been the topic of a number of analyst reports. JPMorgan Chase & Co. restated an “overweight” rating and issued a $75.00 target price (down previously from $80.00) on shares of Centene in a report on Tuesday, December 17th. Jefferies Financial Group lowered shares of Centene from a “hold” rating to an “underperform” rating and lowered their target price for the stock from $68.00 to $52.00 in a report on Tuesday, December 10th. Argus downgraded shares of Centene from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Stephens reduced their price objective on shares of Centene from $75.00 to $73.00 and set an “equal weight” rating for the company in a research report on Friday, December 13th. Finally, Robert W. Baird upped their price objective on shares of Centene from $66.00 to $71.00 in a research report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Centene has an average rating of “Moderate Buy” and a consensus target price of $79.92.

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.