Fidelis Capital Partners LLC Trims Position in Centene Co. (NYSE:CNC)

Fidelis Capital Partners LLC lowered its stake in shares of Centene Co. (NYSE:CNC) by 14.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,832 shares of the company’s stock after selling 494 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Centene were worth $188,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Pinebridge Investments L.P. raised its stake in shares of Centene by 52.4% during the fourth quarter. Pinebridge Investments L.P. now owns 327,442 shares of the company’s stock worth $24,298,000 after purchasing an additional 112,605 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Centene by 18.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 624,944 shares of the company’s stock worth $49,046,000 after acquiring an additional 98,298 shares during the period. GSA Capital Partners LLP increased its stake in shares of Centene by 435.0% during the first quarter. GSA Capital Partners LLP now owns 20,052 shares of the company’s stock worth $1,574,000 after acquiring an additional 16,304 shares during the period. Diversified Trust Co raised its holdings in Centene by 35.8% during the second quarter. Diversified Trust Co now owns 28,009 shares of the company’s stock worth $1,857,000 after purchasing an additional 7,385 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in Centene by 189.6% in the first quarter. Bessemer Group Inc. now owns 24,162 shares of the company’s stock valued at $1,895,000 after purchasing an additional 15,819 shares during the period. Institutional investors and hedge funds own 93.63% of the company’s stock.

Wall Street Analysts Forecast Growth

CNC has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Jefferies Financial Group cut Centene from a “buy” rating to a “hold” rating and cut their price objective for the stock from $83.00 to $69.00 in a research report on Wednesday, July 24th. JPMorgan Chase & Co. decreased their target price on shares of Centene from $85.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Robert W. Baird initiated coverage on shares of Centene in a report on Thursday, May 30th. They issued a “neutral” rating and a $83.00 price target for the company. Finally, Truist Financial decreased their price objective on shares of Centene from $92.00 to $89.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $85.58.

Centene Trading Down 0.3 %

Shares of Centene stock opened at $75.35 on Tuesday. The business has a 50 day moving average price of $74.67 and a 200 day moving average price of $73.43. The company has a market capitalization of $40.21 billion, a P/E ratio of 14.98, a P/E/G ratio of 0.99 and a beta of 0.48. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.17 and a quick 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 issued its quarterly earnings data on Friday, July 26th. The company reported $2.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.02). The company had revenue of $39.84 billion during the quarter, compared to analysts’ expectations of $36.83 billion. Centene had a net margin of 1.79% and a return on equity of 14.45%. The firm’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.10 earnings per share. Sell-side analysts anticipate that Centene Co. will post 6.82 EPS for the current fiscal year.

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.