Public Sector Pension Investment Board Acquires 5,329 Shares of Centene Co. (NYSE:CNC)

Public Sector Pension Investment Board lifted its position in Centene Co. (NYSE:CNCFree Report) by 10.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,002 shares of the company’s stock after acquiring an additional 5,329 shares during the quarter. Public Sector Pension Investment Board’s holdings in Centene were worth $3,995,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Teacher Retirement System of Texas lifted its holdings in shares of Centene by 8.2% in the 3rd quarter. Teacher Retirement System of Texas now owns 186,080 shares of the company’s stock worth $12,817,000 after acquiring an additional 14,070 shares during the last quarter. Schroder Investment Management Group increased its stake in Centene by 30.6% in the 2nd quarter. Schroder Investment Management Group now owns 112,264 shares of the company’s stock worth $7,572,000 after buying an additional 26,293 shares during the period. State Board of Administration of Florida Retirement System increased its position in Centene by 4.1% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 677,311 shares of the company’s stock valued at $46,653,000 after purchasing an additional 26,833 shares during the period. Pathstone Family Office LLC increased its position in Centene by 154.8% during the 3rd quarter. Pathstone Family Office LLC now owns 15,451 shares of the company’s stock valued at $1,066,000 after purchasing an additional 9,386 shares during the period. Finally, Heartland Advisors Inc. increased its position in Centene by 22.2% during the 3rd quarter. Heartland Advisors Inc. now owns 471,440 shares of the company’s stock valued at $32,473,000 after purchasing an additional 85,696 shares during the period. Institutional investors own 90.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CNC. Truist Financial raised their target price on shares of Centene from $83.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, December 21st. UBS Group raised their target price on shares of Centene from $72.00 to $79.00 and gave the company a “neutral” rating in a research report on Thursday, December 21st. Wells Fargo & Company raised shares of Centene from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $82.00 to $90.00 in a research report on Tuesday, January 2nd. Barclays assumed coverage on shares of Centene in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $101.00 price objective on the stock. Finally, Cantor Fitzgerald lifted their price objective on shares of Centene from $82.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, December 15th. Four 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 presently has a consensus rating of “Moderate Buy” and an average price target of $85.15.

Read Our Latest Report on Centene

Centene Stock Performance

Shares of NYSE CNC opened at $75.47 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.68. Centene Co. has a 12 month low of $60.83 and a 12 month high of $81.42. The company has a 50 day simple moving average of $77.20 and a two-hundred day simple moving average of $73.13. The stock has a market cap of $40.37 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 0.95 and a beta of 0.38.

Centene (NYSE:CNCGet Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02. The business had revenue of $39.46 billion during the quarter, compared to analysts’ expectations of $36.16 billion. Centene had a net margin of 1.75% and a return on equity of 14.26%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.86 EPS. As a group, analysts predict that Centene Co. will post 6.75 earnings per share for the current year.

Insider Activity

In other news, Director Lori Jean Robinson sold 10,000 shares of Centene stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $77.41, for a total transaction of $774,100.00. Following the completion of the transaction, the director now directly owns 11,455 shares of the company’s stock, valued at approximately $886,731.55. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, President Kenneth J. Fasola sold 12,000 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $75.07, for a total value of $900,840.00. Following the completion of the sale, the president now owns 235,365 shares of the company’s stock, valued at approximately $17,668,850.55. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lori Jean Robinson sold 10,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $77.41, for a total transaction of $774,100.00. Following the completion of the sale, the director now directly owns 11,455 shares of the company’s stock, valued at approximately $886,731.55. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Centene Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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