TIAA Trust National Association Lowers Stock Holdings in Centene Co. (NYSE:CNC)

TIAA Trust National Association lessened its stake in shares of Centene Co. (NYSE:CNC) by 12.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 5,530 shares of the company’s stock after selling 796 shares during the period. TIAA Trust National Association’s holdings in Centene were worth $335,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Stratos Wealth Partners LTD. increased its position in shares of Centene by 4.1% during the fourth quarter. Stratos Wealth Partners LTD. now owns 4,094 shares of the company’s stock valued at $248,000 after acquiring an additional 163 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of Centene by 75.3% in the 4th quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company’s stock worth $25,000 after purchasing an additional 177 shares in the last quarter. Private Trust Co. NA raised its stake in shares of Centene by 23.7% in the fourth quarter. Private Trust Co. NA now owns 956 shares of the company’s stock worth $58,000 after purchasing an additional 183 shares during the last quarter. Howard Capital Management Inc. raised its position in Centene by 5.4% in the 4th quarter. Howard Capital Management Inc. now owns 3,591 shares of the company’s stock worth $218,000 after buying an additional 184 shares during the last quarter. Finally, Intellectus Partners LLC lifted its stake in Centene by 2.8% during the 4th quarter. Intellectus Partners LLC now owns 7,224 shares of the company’s stock valued at $438,000 after acquiring an additional 200 shares during the period. 93.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

CNC has been the subject of several research reports. Jefferies Financial Group cut shares of Centene from a “hold” rating to an “underperform” rating and decreased their price objective for the company from $68.00 to $52.00 in a report on Tuesday, December 10th. StockNews.com cut Centene from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 price objective on shares of Centene in a report on Wednesday, December 11th. Truist Financial dropped their target price on Centene from $89.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $75.00 price target (down previously from $80.00) on shares of Centene in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Centene has a consensus rating of “Moderate Buy” and an average target price of $79.92.

Centene Stock Down 0.5 %

Shares of CNC stock opened at $59.96 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.11 and a quick ratio of 1.10. Centene Co. has a one year low of $55.03 and a one year high of $80.59. The company’s fifty day moving average price is $59.94 and its 200-day moving average price is $62.79. The company has a market capitalization of $29.74 billion, a price-to-earnings ratio of 9.61, a PEG ratio of 0.80 and a beta of 0.40.

Centene (NYSE:CNC) last posted its quarterly 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 return on equity of 13.85% and a net margin of 2.03%. The business had revenue of $40.81 billion for the quarter, compared to analysts’ expectations of $38.78 billion. During the same period last year, the firm earned $0.45 earnings per share. The business’s quarterly revenue was up 3.4% on a year-over-year basis. Sell-side analysts expect that Centene Co. will post 6.86 EPS for the current fiscal year.

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.