Mutual of America Capital Management LLC Sells 2,998 Shares of Centene Co. (NYSE:CNC)

Mutual of America Capital Management LLC trimmed its holdings in shares of Centene Co. (NYSE:CNC) by 3.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 96,577 shares of the company’s stock after selling 2,998 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Centene were worth $6,403,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Swedbank AB purchased a new position in shares of Centene during the first quarter valued at $914,080,000. Harris Associates L P increased its stake in shares of Centene by 172.8% during the fourth quarter. Harris Associates L P now owns 10,863,367 shares of the company’s stock valued at $806,170,000 after buying an additional 6,881,450 shares during the period. Boston Partners increased its stake in shares of Centene by 0.4% during the first quarter. Boston Partners now owns 8,652,177 shares of the company’s stock valued at $678,033,000 after buying an additional 32,427 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Centene by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 5,491,968 shares of the company’s stock valued at $364,117,000 after buying an additional 25,595 shares during the period. Finally, Capital International Investors increased its stake in shares of Centene by 60.2% during the first quarter. Capital International Investors now owns 5,216,486 shares of the company’s stock valued at $409,390,000 after buying an additional 1,959,460 shares during the period. 93.63% of the stock is currently owned by institutional investors.

Centene Price Performance

Shares of CNC stock opened at $75.63 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.17 and a current ratio of 1.17. Centene Co. has a fifty-two week low of $63.45 and a fifty-two week high of $81.42. The firm has a market capitalization of $40.36 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 0.99 and a beta of 0.48. The stock’s 50-day simple moving average is $74.48 and its 200-day simple moving average is $73.51.

Centene (NYSE:CNC) last released its earnings results on Friday, July 26th. The company reported $2.42 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). Centene had a return on equity of 14.45% and a net margin of 1.79%. The firm had revenue of $39.84 billion for the quarter, compared to analyst estimates of $36.83 billion. During the same period last year, the firm earned $2.10 EPS. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, equities analysts forecast that Centene Co. will post 6.82 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CNC shares. Barclays cut their price target on Centene from $98.00 to $97.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. Wells Fargo & Company cut their target price on Centene from $93.00 to $91.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. Baird R W upgraded Centene to a “hold” rating in a research note on Thursday, May 30th. Stephens reiterated an “equal weight” rating and issued a $78.00 target price on shares of Centene in a research note on Monday, August 5th. Finally, StockNews.com upgraded Centene from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.58.

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.