Quantinno Capital Management LP Cuts Stock Holdings in Centene Co. (NYSE:CNC)

Quantinno Capital Management LP reduced its position in Centene Co. (NYSE:CNC) by 67.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 37,604 shares of the company’s stock after selling 78,075 shares during the period. Quantinno Capital Management LP’s holdings in Centene were worth $2,278,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Capital Advisors Ltd. LLC boosted its holdings in shares of Centene by 75.3% during the 4th quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company’s stock valued at $25,000 after acquiring an additional 177 shares during the last quarter. Hurley Capital LLC purchased a new stake in Centene in the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new stake in Centene in the 4th quarter worth approximately $30,000. OFI Invest Asset Management purchased a new stake in Centene during the 4th quarter valued at $33,000. Finally, SRS Capital Advisors Inc. increased its position in Centene by 73.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 631 shares of the company’s stock valued at $38,000 after acquiring an additional 267 shares during the last quarter. 93.63% of the stock is owned by institutional investors.

Centene Price Performance

Centene stock opened at $61.89 on Wednesday. Centene Co. has a 52-week low of $55.03 and a 52-week high of $80.59. The company has a market cap of $30.80 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 0.80 and a beta of 0.48. The firm’s fifty day moving average is $60.80 and its 200 day moving average is $60.44. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.70.

Centene (NYSE:CNC) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.38. The company had revenue of $46.62 billion for the quarter, compared to analysts’ expectations of $43.16 billion. Centene had a return on equity of 13.85% and a net margin of 2.03%. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.26 earnings per share. Sell-side analysts forecast that Centene Co. will post 6.86 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CNC shares. Argus downgraded shares of Centene from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Barclays reduced their price objective on Centene from $93.00 to $84.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. Wells Fargo & Company lowered their target price on Centene from $76.00 to $72.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Robert W. Baird decreased their price objective on Centene from $71.00 to $69.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. Finally, Jefferies Financial Group cut their price objective on Centene from $64.00 to $61.00 and set a “hold” rating for the company in a research note on Tuesday, April 29th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Centene currently has an average rating of “Moderate Buy” and a consensus target price of $79.77.

About Centene

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.