Allspring Global Investments Holdings LLC Has $11.51 Million Stake in Centene Co. (NYSE:CNC)

Allspring Global Investments Holdings LLC lessened its holdings in shares of Centene Co. (NYSE:CNC) by 53.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,186 shares of the company’s stock after selling 221,306 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Centene were worth $11,508,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CNC. Private Trust Co. NA raised its stake in shares of Centene by 75.3% in the 3rd quarter. Private Trust Co. NA now owns 773 shares of the company’s stock valued at $58,000 after purchasing an additional 332 shares during the period. True Wealth Design LLC acquired a new stake in shares of Centene in the third quarter valued at about $66,000. R Squared Ltd acquired a new position in Centene during the fourth quarter valued at approximately $82,000. Venturi Wealth Management LLC raised its stake in shares of Centene by 77.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,163 shares of the company’s stock worth $88,000 after purchasing an additional 507 shares in the last quarter. Finally, Cromwell Holdings LLC grew its stake in shares of Centene by 588.0% in the third quarter. Cromwell Holdings LLC now owns 1,266 shares of the company’s stock valued at $95,000 after buying an additional 1,082 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on CNC shares. Sanford C. Bernstein decreased their price objective on shares of Centene from $96.00 to $88.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 target price on shares of Centene in a research report on Wednesday, December 11th. Truist Financial lowered their price target on shares of Centene from $89.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Jefferies Financial Group lowered shares of Centene from a “hold” rating to an “underperform” rating and decreased their target price for the stock from $68.00 to $52.00 in a research report on Tuesday, December 10th. Finally, Barclays raised their target price on shares of Centene from $91.00 to $93.00 and gave the company an “overweight” rating in a report on Friday, December 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Centene has an average rating of “Moderate Buy” and an average target price of $79.92.

Insider Activity at Centene

In related news, Director Thomas Greco purchased 17,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was purchased at an average cost of $59.75 per share, with a total value of $1,015,750.00. Following the completion of the acquisition, the director now directly owns 19,309 shares of the company’s stock, valued at approximately $1,153,712.75. The trade was a 736.25 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director H James Dallas acquired 1,693 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were bought at an average cost of $59.01 per share, for a total transaction of $99,903.93. Following the acquisition, the director now directly owns 1,693 shares in the company, valued at $99,903.93. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 23,693 shares of company stock valued at $1,409,954. 0.33% of the stock is owned by insiders.

Centene Stock Performance

NYSE CNC opened at $56.87 on Tuesday. Centene Co. has a 12-month low of $55.03 and a 12-month high of $81.42. The company has a market cap of $28.71 billion, a P/E ratio of 9.11, a PEG ratio of 0.79 and a beta of 0.45. The company has a fifty day simple moving average of $61.08 and a 200 day simple moving average of $66.39. The company has a current ratio of 1.11, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70.

Centene (NYSE:CNC) last posted its earnings results on Tuesday, February 4th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.31. Centene had a net margin of 2.03% and a return on equity of 13.85%. The firm had revenue of $40.81 billion during the quarter, compared to analyst estimates of $38.78 billion. During the same quarter in the prior year, the business posted $0.45 EPS. The business’s revenue was up 3.4% compared to the same quarter last year. Sell-side analysts predict that Centene Co. will post 6.97 earnings per share for the current fiscal year.

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.