Mirae Asset Global Investments Co. Ltd. Increases Holdings in Centene Co. (NYSE:CNC)

Mirae Asset Global Investments Co. Ltd. increased its stake in Centene Co. (NYSE:CNC) by 2.1% during the third quarter, according to its most recent filing with the SEC. The fund owned 73,362 shares of the company’s stock after buying an additional 1,521 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Centene were worth $5,471,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Centene by 18.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 624,944 shares of the company’s stock worth $49,046,000 after purchasing an additional 98,298 shares during the last quarter. GSA Capital Partners LLP lifted its position in shares of Centene by 435.0% during the 1st quarter. GSA Capital Partners LLP now owns 20,052 shares of the company’s stock valued at $1,574,000 after buying an additional 16,304 shares during the last quarter. Diversified Trust Co raised its stake in Centene by 35.8% in the 2nd quarter. Diversified Trust Co now owns 28,009 shares of the company’s stock valued at $1,857,000 after acquiring an additional 7,385 shares during the period. Bessemer Group Inc. increased its stake in shares of Centene by 189.6% in the first quarter. Bessemer Group Inc. now owns 24,162 shares of the company’s stock worth $1,895,000 after purchasing an additional 15,819 shares in the last quarter. Finally, Comerica Bank raised its position in shares of Centene by 7.3% in the first quarter. Comerica Bank now owns 118,597 shares of the company’s stock valued at $9,307,000 after purchasing an additional 8,103 shares during the period. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CNC. Jefferies Financial Group lowered shares of Centene from a “buy” rating to a “hold” rating and reduced their price objective for the company from $83.00 to $69.00 in a research note on Wednesday, July 24th. Truist Financial reduced their price target on shares of Centene from $92.00 to $89.00 and set a “buy” rating for the company in a research report on Monday, July 15th. TD Cowen increased their price objective on Centene from $80.00 to $89.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Robert W. Baird decreased their target price on Centene from $83.00 to $66.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Wells Fargo & Company dropped their price target on Centene from $93.00 to $91.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $84.17.

Centene Stock Down 4.0 %

Shares of NYSE CNC opened at $61.66 on Tuesday. The stock has a market capitalization of $32.91 billion, a P/E ratio of 12.26, a PEG ratio of 0.98 and a beta of 0.48. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.17 and a quick ratio of 1.17. Centene Co. has a one year low of $59.77 and a one year high of $81.42. The firm’s 50 day simple moving average is $72.55 and its two-hundred day simple moving average is $72.24.

Centene (NYSE:CNC) last issued 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 business had revenue of $39.84 billion during the quarter, compared to analysts’ expectations of $36.83 billion. During the same quarter in the previous year, the business earned $2.10 EPS. Centene’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, analysts expect that Centene Co. will post 6.8 EPS for the current fiscal year.

Centene Company 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.