Centene Co. (NYSE:CNC) Stock Holdings Decreased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its position in Centene Co. (NYSE:CNC) by 2.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 43,352 shares of the company’s stock after selling 1,304 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Centene were worth $2,875,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

CNC has been the topic of a number of research analyst reports. Stephens reaffirmed an “equal weight” rating and set a $78.00 price objective on shares of Centene in a research report on Monday, August 5th. Barclays lowered their price objective on shares of Centene from $98.00 to $97.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. Truist Financial lowered their price objective on shares of Centene from $92.00 to $89.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Wells Fargo & Company lowered their price objective on shares of Centene from $93.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Centene from $82.00 to $87.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.58.

Centene Price Performance

NYSE CNC opened at $72.03 on Friday. Centene Co. has a fifty-two week low of $63.45 and a fifty-two week high of $81.42. The stock’s 50-day moving average is $75.82 and its two-hundred day moving average is $73.31. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a market cap of $38.44 billion, a P/E ratio of 14.32, a price-to-earnings-growth ratio of 1.02 and a beta of 0.48.

Centene (NYSE:CNC) last posted its earnings results on Friday, July 26th. The company reported $2.42 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.02). The company had revenue of $39.84 billion for the quarter, compared to the consensus estimate of $36.83 billion. Centene had a net margin of 1.79% and a return on equity of 14.45%. Centene’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the business earned $2.10 earnings per share. On average, analysts anticipate that Centene Co. will post 6.8 earnings per share for the current fiscal 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.