California Public Employees Retirement System Has $20.55 Million Holdings in Centene Corporation $CNC

California Public Employees Retirement System reduced its stake in shares of Centene Corporation (NYSE:CNC) by 26.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 627,549 shares of the company’s stock after selling 220,718 shares during the quarter. California Public Employees Retirement System owned about 0.13% of Centene worth $20,546,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CNC. Daytona Street Capital LLC bought a new position in Centene in the fourth quarter valued at approximately $2,566,000. Assenagon Asset Management S.A. raised its position in shares of Centene by 29.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,878,973 shares of the company’s stock valued at $77,320,000 after acquiring an additional 428,503 shares during the last quarter. Chicago Partners Investment Group LLC lifted its stake in shares of Centene by 114.1% in the 4th quarter. Chicago Partners Investment Group LLC now owns 45,798 shares of the company’s stock valued at $1,885,000 after purchasing an additional 24,411 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of Centene by 426.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,318,075 shares of the company’s stock worth $95,389,000 after purchasing an additional 1,878,064 shares during the period. Finally, Ninety One UK Ltd increased its holdings in Centene by 162.6% in the fourth quarter. Ninety One UK Ltd now owns 1,720,422 shares of the company’s stock valued at $70,795,000 after purchasing an additional 1,065,223 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.

Centene Price Performance

Shares of CNC opened at $65.94 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $32.56 billion, a PE ratio of -5.02, a P/E/G ratio of 0.53 and a beta of 1.07. The stock has a 50 day simple moving average of $63.26 and a 200 day simple moving average of $49.44. Centene Corporation has a 52-week low of $25.08 and a 52-week high of $69.36.

Centene (NYSE:CNC) last released its quarterly earnings results on Tuesday, April 28th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $2.23 by $1.14. The company had revenue of $49.94 billion during the quarter, compared to analysts’ expectations of $47.53 billion. Centene had a negative net margin of 3.25% and a positive return on equity of 5.57%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.90 earnings per share. Sell-side analysts predict that Centene Corporation will post 3.44 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on CNC shares. Wells Fargo & Company set a $69.00 target price on Centene and gave the stock an “equal weight” rating in a report on Monday, July 13th. Royal Bank Of Canada upped their price target on Centene from $70.00 to $71.00 and gave the company a “sector perform” rating in a research note on Thursday, July 9th. Bank of America lifted their price objective on shares of Centene from $72.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Morgan Stanley boosted their price objective on shares of Centene from $50.00 to $57.00 and gave the company an “equal weight” rating in a report on Thursday, June 4th. Finally, Oppenheimer upped their target price on shares of Centene from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Seven research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Centene has an average rating of “Hold” and a consensus price target of $64.61.

Centene Profile

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.