Arizona PSPRS Trust Sells 18,296 Shares of Centene Corporation $CNC

Arizona PSPRS Trust trimmed its position in shares of Centene Corporation (NYSE:CNC) by 45.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 21,700 shares of the company’s stock after selling 18,296 shares during the quarter. Centene accounts for 0.0% of Arizona PSPRS Trust’s investment portfolio, making the stock its 13th largest holding. Arizona PSPRS Trust’s holdings in Centene were worth $893,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Prime Capital Investment Advisors LLC raised its position in Centene by 5.7% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 5,975 shares of the company’s stock worth $246,000 after purchasing an additional 324 shares during the period. Burney Co. raised its holdings in shares of Centene by 3.8% in the fourth quarter. Burney Co. now owns 9,053 shares of the company’s stock worth $373,000 after buying an additional 331 shares during the period. Sapient Capital LLC boosted its holdings in Centene by 4.0% during the 4th quarter. Sapient Capital LLC now owns 9,442 shares of the company’s stock valued at $389,000 after acquiring an additional 359 shares during the period. Snowden Capital Advisors LLC lifted its position in shares of Centene by 8.0% during the second quarter. Snowden Capital Advisors LLC now owns 5,073 shares of the company’s stock worth $275,000 after purchasing an additional 374 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Centene by 15.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,785 shares of the company’s stock valued at $115,000 after purchasing an additional 379 shares during the period. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene Stock Performance

Shares of CNC stock opened at $62.35 on Monday. Centene Corporation has a 1 year low of $25.08 and a 1 year high of $63.50. The firm has a market capitalization of $30.79 billion, a price-to-earnings ratio of -4.75, a price-to-earnings-growth ratio of 0.49 and a beta of 1.09. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.12 and a quick ratio of 1.12. The business has a fifty day moving average of $48.20 and a 200 day moving average of $43.36.

Centene (NYSE:CNC) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $3.37 EPS for the quarter, beating the consensus estimate of $2.23 by $1.14. The business had revenue of $49.94 billion during the quarter, compared to analysts’ expectations of $47.53 billion. Centene had a negative net margin of 3.25% and a positive return on equity of 5.57%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.90 EPS. As a group, research analysts expect that Centene Corporation will post 3.45 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CNC shares. Barclays upped their target price on shares of Centene from $63.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Raymond James Financial set a $60.00 price target on Centene in a research note on Wednesday, April 29th. TD Cowen reaffirmed a “hold” rating and issued a $47.00 price objective (up from $38.00) on shares of Centene in a research note on Monday, May 4th. Oppenheimer increased their target price on shares of Centene from $58.00 to $67.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Finally, Wells Fargo & Company boosted their price target on shares of Centene from $44.00 to $56.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Centene presently has an average rating of “Hold” and a consensus target price of $59.47.

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.