Elo Mutual Pension Insurance Co Decreases Stake in Centene Co. (NYSE:CNC)

Elo Mutual Pension Insurance Co cut its holdings in Centene Co. (NYSE:CNC) by 1.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,103 shares of the company’s stock after selling 708 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Centene were worth $3,189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in CNC. Rise Advisors LLC purchased a new position in shares of Centene during the first quarter valued at approximately $25,000. WR Wealth Planners LLC grew its stake in shares of Centene by 41.4% during the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock valued at $31,000 after acquiring an additional 137 shares during the period. Chris Bulman Inc bought a new position in Centene in the 2nd quarter worth $33,000. Riverview Trust Co lifted its holdings in shares of Centene by 154.6% in the second quarter. Riverview Trust Co now owns 527 shares of the company’s stock worth $35,000 after buying an additional 320 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Centene during the second quarter valued at about $36,000. 93.63% of the stock is currently owned by institutional investors.

Centene Stock Down 0.9 %

Shares of NYSE CNC opened at $75.63 on Friday. The firm has a market cap of $40.36 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 0.99 and a beta of 0.48. The stock’s 50-day simple moving average is $74.33 and its 200-day simple moving average is $73.53. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.17 and a current ratio of 1.17. Centene Co. has a 1 year low of $63.45 and a 1 year high of $81.42.

Centene (NYSE:CNC) last released its earnings results on Friday, July 26th. The company reported $2.42 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). Centene had a return on equity of 14.45% and a net margin of 1.79%. The firm had revenue of $39.84 billion for the quarter, compared to the consensus estimate of $36.83 billion. During the same period in the prior year, the business earned $2.10 EPS. The company’s quarterly revenue was up 5.9% on a year-over-year basis. As a group, equities analysts anticipate that Centene Co. will post 6.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CNC shares. Jefferies Financial Group downgraded shares of Centene from a “buy” rating to a “hold” rating and lowered their price target for the company from $83.00 to $69.00 in a report on Wednesday, July 24th. Oppenheimer lowered their price target on shares of Centene from $110.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, July 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price target on shares of Centene in a research report on Tuesday, September 10th. Robert W. Baird began coverage on Centene in a research note on Thursday, May 30th. They issued a “neutral” rating and a $83.00 target price on the stock. Finally, Barclays cut their price objective on Centene from $98.00 to $97.00 and set an “overweight” rating for the company in a research report on Thursday, September 5th. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.58.

Centene 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.