Centene Corporation $CNC Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its holdings in shares of Centene Corporation (NYSE:CNC) by 42.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,980 shares of the company’s stock after selling 42,510 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Centene were worth $3,093,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Invesco Ltd. grew its stake in Centene by 5.1% during the 1st quarter. Invesco Ltd. now owns 11,091,964 shares of the company’s stock valued at $673,393,000 after purchasing an additional 536,508 shares in the last quarter. AQR Capital Management LLC grew its stake in Centene by 42.7% during the 1st quarter. AQR Capital Management LLC now owns 11,049,494 shares of the company’s stock valued at $669,820,000 after purchasing an additional 3,306,796 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Centene by 3.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,810,489 shares of the company’s stock valued at $292,045,000 after purchasing an additional 143,573 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Centene by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,433,451 shares of the company’s stock valued at $269,134,000 after purchasing an additional 28,462 shares in the last quarter. Finally, LSV Asset Management grew its stake in Centene by 23.7% during the 1st quarter. LSV Asset Management now owns 4,055,764 shares of the company’s stock valued at $246,225,000 after purchasing an additional 776,331 shares in the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Trading Down 4.7%

Shares of NYSE CNC opened at $34.34 on Friday. The company has a market cap of $16.87 billion, a price-to-earnings ratio of 8.50, a price-to-earnings-growth ratio of 1.42 and a beta of 0.48. Centene Corporation has a 12-month low of $25.08 and a 12-month high of $70.11. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64. The stock’s 50 day simple moving average is $32.90 and its 200 day simple moving average is $43.03.

Centene (NYSE:CNC) last announced its quarterly earnings results on Friday, July 25th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.39). The company had revenue of $48.74 billion during the quarter, compared to the consensus estimate of $44.71 billion. Centene had a return on equity of 9.57% and a net margin of 1.15%.The company’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same period last year, the business posted $2.42 EPS. Equities research analysts expect that Centene Corporation will post 6.86 EPS for the current year.

Insider Buying and Selling at Centene

In other Centene news, Director Theodore R. Samuels II purchased 9,000 shares of Centene stock in a transaction on Monday, July 28th. The stock was bought at an average price of $27.62 per share, for a total transaction of $248,580.00. Following the transaction, the director owned 32,000 shares of the company’s stock, valued at $883,840. The trade was a 39.13% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sarah London purchased 19,230 shares of Centene stock in a transaction on Friday, August 8th. The shares were acquired at an average price of $25.50 per share, with a total value of $490,365.00. Following the transaction, the chief executive officer directly owned 845,275 shares in the company, valued at $21,554,512.50. This trade represents a 2.33% increase in their position. The disclosure for this purchase can be found here. 0.36% of the stock is owned by insiders.

Analysts Set New Price Targets

CNC has been the topic of a number of research analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $38.00 target price on shares of Centene in a report on Tuesday, August 26th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Centene in a report on Wednesday, October 8th. Truist Financial set a $42.00 target price on Centene in a report on Tuesday, October 14th. Wells Fargo & Company set a $41.00 target price on Centene and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Finally, The Goldman Sachs Group initiated coverage on Centene in a report on Tuesday, October 14th. They set a “sell” rating and a $33.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $39.50.

Centene Company 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.