Centene Corporation (NYSE:CNC) Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC lessened its position in Centene Corporation (NYSE:CNC) by 31.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,576 shares of the company’s stock after selling 1,163 shares during the period. Penserra Capital Management LLC’s holdings in Centene were worth $155,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CNC. Steward Partners Investment Advisory LLC increased its holdings in shares of Centene by 245.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,947 shares of the company’s stock worth $179,000 after acquiring an additional 2,094 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Centene in the 4th quarter worth about $3,589,000. Independent Advisor Alliance acquired a new stake in shares of Centene in the 4th quarter worth about $204,000. Citizens Financial Group Inc. RI increased its holdings in shares of Centene by 25.3% in the 4th quarter. Citizens Financial Group Inc. RI now owns 3,784 shares of the company’s stock worth $229,000 after acquiring an additional 765 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in Centene by 25.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,585 shares of the company’s stock valued at $96,000 after buying an additional 325 shares during the period. Institutional investors and hedge funds own 93.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. JPMorgan Chase & Co. reissued a “neutral” rating and set a $48.00 target price (down previously from $75.00) on shares of Centene in a research note on Wednesday, July 2nd. Cantor Fitzgerald lowered their target price on shares of Centene from $90.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 2nd. Jefferies Financial Group lowered their target price on shares of Centene from $64.00 to $61.00 and set a “hold” rating on the stock in a research note on Tuesday, April 29th. Barclays lowered their price objective on shares of Centene from $65.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 2nd. Finally, Bank of America lowered their price objective on shares of Centene from $65.00 to $52.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 2nd. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $64.75.

Centene Trading Down 3.4%

Shares of Centene stock opened at $31.42 on Friday. The business has a fifty day simple moving average of $53.21 and a two-hundred day simple moving average of $58.08. Centene Corporation has a 1 year low of $31.40 and a 1 year high of $80.59. The company has a market capitalization of $15.63 billion, a price-to-earnings ratio of 4.68, a P/E/G ratio of 0.47 and a beta of 0.44. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.11 and a quick ratio of 1.11.

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