TD Private Client Wealth LLC Sells 8,476 Shares of Centene Co. (NYSE:CNC)

TD Private Client Wealth LLC cut its holdings in Centene Co. (NYSE:CNC) by 91.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 753 shares of the company’s stock after selling 8,476 shares during the quarter. TD Private Client Wealth LLC’s holdings in Centene were worth $46,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CNC. Semanteon Capital Management LP grew its holdings in Centene by 12.9% in the fourth quarter. Semanteon Capital Management LP now owns 8,887 shares of the company’s stock worth $538,000 after purchasing an additional 1,014 shares during the period. Blueshift Asset Management LLC grew its stake in shares of Centene by 128.9% in the 4th quarter. Blueshift Asset Management LLC now owns 24,016 shares of the company’s stock worth $1,455,000 after buying an additional 13,523 shares during the last quarter. Teacher Retirement System of Texas increased its position in Centene by 57.4% during the 4th quarter. Teacher Retirement System of Texas now owns 390,002 shares of the company’s stock valued at $23,626,000 after buying an additional 142,195 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Centene in the fourth quarter worth $552,000. Finally, Intech Investment Management LLC grew its stake in shares of Centene by 4,390.8% in the fourth quarter. Intech Investment Management LLC now owns 687,814 shares of the company’s stock worth $41,668,000 after acquiring an additional 672,498 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on CNC shares. JPMorgan Chase & Co. reissued an “overweight” rating and set a $75.00 price objective (down from $80.00) on shares of Centene in a research report on Tuesday, December 17th. Robert W. Baird raised their price target on shares of Centene from $66.00 to $71.00 in a research report on Tuesday, February 4th. Jefferies Financial Group downgraded Centene from a “hold” rating to an “underperform” rating and cut their target price for the company from $68.00 to $52.00 in a research note on Tuesday, December 10th. UBS Group upgraded Centene from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $79.00 to $80.00 in a research note on Friday, December 13th. Finally, Truist Financial dropped their price objective on Centene from $89.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $79.92.

Centene Stock Performance

Shares of NYSE CNC opened at $58.88 on Wednesday. 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 12-month low of $55.03 and a 12-month high of $80.59. The firm has a market capitalization of $29.21 billion, a price-to-earnings ratio of 9.44, a price-to-earnings-growth ratio of 0.80 and a beta of 0.40. The firm has a 50 day moving average of $60.09 and a 200 day moving average of $62.90.

Centene (NYSE:CNC) last posted 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. Centene had a return on equity of 13.85% and a net margin of 2.03%. The firm had revenue of $40.81 billion during the quarter, compared to analyst estimates of $38.78 billion. During the same period in the prior year, the business posted $0.45 EPS. Centene’s revenue was up 3.4% on a year-over-year basis. On average, research analysts anticipate that Centene Co. will post 6.86 earnings per share 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.