Corebridge Financial Inc. Sells 26,846 Shares of Centene Co. (NYSE:CNC)

Corebridge Financial Inc. lessened its position in Centene Co. (NYSE:CNC) by 17.3% during the fourth quarter, Holdings Channel reports. The fund owned 128,588 shares of the company’s stock after selling 26,846 shares during the period. Corebridge Financial Inc.’s holdings in Centene were worth $7,790,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC raised its holdings in shares of Centene by 75.3% during the 4th quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company’s stock valued at $25,000 after buying an additional 177 shares in the last quarter. Rialto Wealth Management LLC bought a new position in Centene during the fourth quarter valued at approximately $30,000. OFI Invest Asset Management bought a new stake in shares of Centene in the 4th quarter worth approximately $33,000. SRS Capital Advisors Inc. boosted its stake in shares of Centene by 73.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 631 shares of the company’s stock valued at $38,000 after purchasing an additional 267 shares in the last quarter. Finally, Riverview Trust Co raised its position in Centene by 172.7% in the 4th quarter. Riverview Trust Co now owns 758 shares of the company’s stock worth $46,000 after purchasing an additional 480 shares during the period. Institutional investors own 93.63% of the company’s stock.

Centene Trading Down 0.5 %

CNC opened at $60.23 on Friday. The stock has a market cap of $29.88 billion, a PE ratio of 9.65, a PEG ratio of 0.80 and a beta of 0.40. The business has a 50 day moving average of $59.98 and a 200-day moving average of $62.86. Centene Co. has a 52 week low of $55.03 and a 52 week high of $80.59. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.70.

Centene (NYSE:CNC) last announced its earnings results on Tuesday, February 4th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.31. Centene had a net margin of 2.03% and a return on equity of 13.85%. The firm had revenue of $40.81 billion for the quarter, compared to analysts’ expectations of $38.78 billion. During the same quarter in the previous year, the business posted $0.45 EPS. The company’s quarterly revenue was up 3.4% on a year-over-year basis. Equities research analysts predict that Centene Co. will post 6.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CNC shares. Wells Fargo & Company reduced their price objective on Centene from $76.00 to $72.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. StockNews.com lowered Centene from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $75.00 price objective (down previously from $80.00) on shares of Centene in a research report on Tuesday, December 17th. Robert W. Baird raised their target price on shares of Centene from $66.00 to $71.00 in a report on Tuesday, February 4th. Finally, Argus cut shares of Centene from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $79.92.

Centene 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.