New York State Common Retirement Fund Has $23.44 Million Stock Holdings in Centene Co. (NYSE:CNC)

New York State Common Retirement Fund cut its holdings in Centene Co. (NYSE:CNC) by 24.8% in the third quarter, Holdings Channel.com reports. The fund owned 311,354 shares of the company’s stock after selling 102,800 shares during the quarter. New York State Common Retirement Fund’s holdings in Centene were worth $23,439,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Swedbank AB acquired a new stake in Centene in the first quarter valued at approximately $914,080,000. Boston Partners lifted its stake 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 buying an additional 32,427 shares during the last quarter. Bank of New York Mellon Corp lifted its stake 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 buying an additional 25,595 shares during the last quarter. Capital International Investors lifted its stake in shares of Centene by 60.2% in the first quarter. Capital International Investors now owns 5,216,486 shares of the company’s stock worth $409,390,000 after buying an additional 1,959,460 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Centene by 14.2% in the second quarter. Legal & General Group Plc now owns 5,113,759 shares of the company’s stock worth $339,042,000 after buying an additional 636,683 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Trading Up 0.5 %

Shares of Centene stock opened at $63.82 on Tuesday. The firm has a market capitalization of $32.22 billion, a PE ratio of 11.08, a price-to-earnings-growth ratio of 0.85 and a beta of 0.49. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.17. The company’s fifty day moving average price is $70.97 and its two-hundred day moving average price is $71.89. Centene Co. has a 52-week low of $59.77 and a 52-week high of $81.42.

Wall Street Analyst Weigh In

CNC has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective on shares of Centene from $91.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday. StockNews.com lowered shares of Centene from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 28th. TD Cowen boosted their target price on shares of Centene from $80.00 to $89.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. dropped their target price on shares of Centene from $85.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, Truist Financial dropped their target price 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. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Centene presently has an average rating of “Moderate Buy” and a consensus target price of $83.92.

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.