Retirement Systems of Alabama Has $3.55 Million Stock Position in Centene Corporation $CNC

Retirement Systems of Alabama cut its position in Centene Corporation (NYSE:CNC) by 83.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,531 shares of the company’s stock after selling 493,890 shares during the period. Retirement Systems of Alabama’s holdings in Centene were worth $3,551,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CNC. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Centene during the third quarter worth approximately $27,000. WPG Advisers LLC increased its stake in Centene by 44.5% during the 3rd quarter. WPG Advisers LLC now owns 915 shares of the company’s stock valued at $33,000 after purchasing an additional 282 shares in the last quarter. Bogart Wealth LLC raised its holdings in Centene by 11,011.1% during the third quarter. Bogart Wealth LLC now owns 1,000 shares of the company’s stock worth $36,000 after buying an additional 991 shares during the last quarter. Financial Network Wealth Advisors LLC grew its holdings in shares of Centene by 54.9% during the third quarter. Financial Network Wealth Advisors LLC now owns 1,100 shares of the company’s stock valued at $39,000 after buying an additional 390 shares during the last quarter. Finally, Assetmark Inc. increased its position in shares of Centene by 248.2% during the second quarter. Assetmark Inc. now owns 1,156 shares of the company’s stock worth $63,000 after acquiring an additional 824 shares in the last quarter. Institutional investors own 93.63% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on CNC shares. Mizuho set a $47.00 price target on shares of Centene in a research report on Friday, January 9th. Cantor Fitzgerald raised their target price on Centene from $38.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. TD Cowen reiterated a “hold” rating on shares of Centene in a report on Friday, October 31st. Deutsche Bank Aktiengesellschaft raised their price objective on Centene from $24.00 to $32.00 in a research note on Friday, October 31st. Finally, Robert W. Baird upped their target price on shares of Centene from $28.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Three equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $40.81.

Centene Stock Performance

NYSE CNC opened at $43.31 on Friday. The company has a market capitalization of $21.29 billion, a PE ratio of -4.00, a price-to-earnings-growth ratio of 1.01 and a beta of 0.48. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.08 and a current ratio of 1.08. Centene Corporation has a 52-week low of $25.08 and a 52-week high of $66.81. The company has a 50-day simple moving average of $41.86 and a 200 day simple moving average of $35.51.

Centene (NYSE:CNC) last released its earnings results on Wednesday, October 29th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.71. The firm had revenue of $49.69 billion during the quarter, compared to the consensus estimate of $47.50 billion. Centene had a negative net margin of 2.85% and a positive return on equity of 7.82%. The company’s revenue was up 18.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.62 EPS. On average, research analysts predict that Centene Corporation will post 6.86 EPS for the current year.

Centene Company Profile

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.