Asset Management One Co. Ltd. Has $12.43 Million Stock Position in Centene Corporation $CNC

Asset Management One Co. Ltd. lessened its holdings in Centene Corporation (NYSE:CNC) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 229,045 shares of the company’s stock after selling 2,999 shares during the period. Asset Management One Co. Ltd.’s holdings in Centene were worth $12,433,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CNC. Quarry LP acquired a new stake in shares of Centene in the 1st quarter worth about $26,000. Golden State Wealth Management LLC raised its holdings in shares of Centene by 203.1% in the 1st quarter. Golden State Wealth Management LLC now owns 579 shares of the company’s stock worth $35,000 after acquiring an additional 388 shares during the last quarter. Trust Co. of Toledo NA OH acquired a new stake in shares of Centene in the 2nd quarter worth about $77,000. Geneos Wealth Management Inc. raised its holdings in shares of Centene by 78.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,462 shares of the company’s stock worth $89,000 after acquiring an additional 641 shares during the last quarter. Finally, OFI Invest Asset Management raised its holdings in shares of Centene by 44.9% in the 2nd quarter. OFI Invest Asset Management now owns 1,700 shares of the company’s stock worth $92,000 after acquiring an additional 527 shares during the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CNC shares. UBS Group reduced their price objective on shares of Centene from $45.00 to $31.00 and set a “neutral” rating for the company in a research report on Monday, July 28th. Bank of America downgraded shares of Centene from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $52.00 to $30.00 in a research report on Wednesday, July 16th. Wall Street Zen downgraded shares of Centene from a “buy” rating to a “hold” rating in a research report on Saturday, July 12th. Oppenheimer reduced their price objective on shares of Centene from $51.00 to $43.00 and set an “outperform” rating for the company in a research report on Monday, July 28th. Finally, Sanford C. Bernstein reduced their price objective on shares of Centene from $40.00 to $36.00 and set an “outperform” rating for the company in a research report on Friday, September 5th. Three research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $39.50.

Centene Stock Down 0.9%

Centene stock opened at $34.07 on Monday. Centene Corporation has a twelve month low of $25.08 and a twelve month high of $70.11. The firm has a 50 day moving average price of $33.01 and a 200-day moving average price of $42.56. The company has a market capitalization of $16.73 billion, a P/E ratio of 8.43, a P/E/G ratio of 1.34 and a beta of 0.48. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64.

Centene (NYSE:CNC) last announced its quarterly earnings results on Friday, July 25th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.39). The business had revenue of $48.74 billion for the quarter, compared to analysts’ expectations of $44.71 billion. Centene had a net margin of 1.15% and a return on equity of 9.57%. The business’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.42 earnings per share. As a group, equities analysts predict that Centene Corporation will post 6.86 EPS for the current year.

Insider Activity at Centene

In other Centene news, CEO Sarah London purchased 19,230 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average cost of $25.50 per share, for a total transaction of $490,365.00. Following the purchase, the chief executive officer owned 845,275 shares of the company’s stock, valued at $21,554,512.50. This represents a 2.33% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.36% of the company’s stock.

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.