Varma Mutual Pension Insurance Co Trims Holdings in Centene Co. (NYSE:CNC)

Varma Mutual Pension Insurance Co cut its position in shares of Centene Co. (NYSE:CNC) by 91.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,200 shares of the company’s stock after selling 122,200 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Centene were worth $743,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Hohimer Wealth Management LLC grew its stake in Centene by 1.1% in the 4th quarter. Hohimer Wealth Management LLC now owns 12,020 shares of the company’s stock worth $892,000 after acquiring an additional 131 shares during the period. EP Wealth Advisors LLC grew its position in shares of Centene by 1.0% in the first quarter. EP Wealth Advisors LLC now owns 13,604 shares of the company’s stock valued at $1,068,000 after purchasing an additional 133 shares during the period. WR Wealth Planners LLC increased its stake in Centene by 41.4% in the second quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock valued at $31,000 after purchasing an additional 137 shares during the last quarter. Whittier Trust Co. lifted its position in Centene by 10.0% during the second quarter. Whittier Trust Co. now owns 1,562 shares of the company’s stock worth $104,000 after buying an additional 142 shares during the period. Finally, Fidelis Capital Partners LLC grew its holdings in Centene by 5.0% in the 1st quarter. Fidelis Capital Partners LLC now owns 3,316 shares of the company’s stock valued at $260,000 after buying an additional 158 shares during the period. Institutional investors and hedge funds own 93.63% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CNC shares. Jefferies Financial Group lowered shares of Centene from a “buy” rating to a “hold” rating and cut their price objective for the stock from $83.00 to $69.00 in a report on Wednesday, July 24th. StockNews.com upgraded shares of Centene from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Stephens restated an “equal weight” rating and set a $78.00 price objective on shares of Centene in a report on Monday, August 5th. Baird R W upgraded Centene to a “hold” rating in a report on Thursday, May 30th. Finally, Robert W. Baird started coverage on Centene in a research note on Thursday, May 30th. They set a “neutral” rating and a $83.00 price target for the company. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $85.75.

Centene Stock Performance

Centene stock opened at $70.98 on Wednesday. The firm has a market capitalization of $37.34 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 0.95 and a beta of 0.48. Centene Co. has a one year low of $63.45 and a one year high of $81.42. The stock’s 50 day moving average price is $73.09 and its 200 day moving average price is $73.64. 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 (NYSE:CNC) last posted 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 in the previous year, the firm posted $2.10 earnings per share. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. As a group, sell-side analysts expect that Centene Co. will post 6.83 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.