Pinnacle Bancorp Inc. Has $28,000 Stock Position in Centene Corporation (NYSE:CNC)

Pinnacle Bancorp Inc. lessened its position in shares of Centene Corporation (NYSE:CNC) by 47.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 461 shares of the company’s stock after selling 424 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in Centene were worth $28,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CNC. Norges Bank bought a new stake in Centene in the 4th quarter valued at $1,536,167,000. AQR Capital Management LLC boosted its position in shares of Centene by 42.8% during the 4th quarter. AQR Capital Management LLC now owns 7,742,698 shares of the company’s stock valued at $469,053,000 after acquiring an additional 2,319,952 shares in the last quarter. Two Sigma Investments LP increased its stake in Centene by 1,788.1% in the fourth quarter. Two Sigma Investments LP now owns 2,245,511 shares of the company’s stock valued at $136,033,000 after acquiring an additional 2,126,582 shares during the period. Assenagon Asset Management S.A. raised its position in Centene by 111.5% in the first quarter. Assenagon Asset Management S.A. now owns 3,608,213 shares of the company’s stock worth $219,055,000 after purchasing an additional 1,902,277 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Centene by 21.7% during the fourth quarter. Invesco Ltd. now owns 10,555,456 shares of the company’s stock worth $639,450,000 after purchasing an additional 1,884,358 shares during the period. 93.63% of the stock is currently owned by institutional investors.

Centene Trading Down 0.9%

CNC opened at $53.58 on Thursday. Centene Corporation has a 1-year low of $52.93 and a 1-year high of $80.59. The stock has a market capitalization of $26.66 billion, a PE ratio of 7.99, a PEG ratio of 0.65 and a beta of 0.45. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.65. The firm has a 50-day moving average price of $57.97 and a two-hundred day moving average price of $59.65.

Centene (NYSE:CNC) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.38. Centene had a net margin of 2.04% and a return on equity of 14.56%. The firm had revenue of $46.62 billion during the quarter, compared to analysts’ expectations of $43.16 billion. During the same quarter in the previous year, the company posted $2.26 EPS. Centene’s revenue was up 15.4% on a year-over-year basis. As a group, equities analysts anticipate that Centene Corporation will post 6.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Barclays reiterated an “equal weight” rating and issued a $65.00 price objective (down from $84.00) on shares of Centene in a research note on Monday, June 2nd. Robert W. Baird lowered their price target on Centene from $71.00 to $69.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. Jefferies Financial Group cut their price objective on Centene from $64.00 to $61.00 and set a “hold” rating for the company in a report on Tuesday, April 29th. Guggenheim restated a “neutral” rating on shares of Centene in a research note on Tuesday, April 29th. Finally, Wall Street Zen cut shares of Centene from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 28th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $77.71.

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.