Legal & General Group Plc Sells 226,817 Shares of Centene Corporation $CNC

by · The Cerbat Gem

Legal & General Group Plc decreased its stake in shares of Centene Corporation (NYSE:CNC – Free Report) by 5.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,220,407 shares of the company’s stock after selling 226,817 shares during the period. Legal & General Group Plc owned approximately 0.86% of Centene worth $173,670,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Prime Capital Investment Advisors LLC increased its position in shares of Centene by 5.7% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 5,975 shares of the company’s stock worth $246,000 after acquiring an additional 324 shares in the last quarter. Burney Co. increased its position in shares of Centene by 3.8% during the fourth quarter. Burney Co. now owns 9,053 shares of the company’s stock worth $373,000 after acquiring an additional 331 shares in the last quarter. Sapient Capital LLC increased its position in shares of Centene by 4.0% during the fourth quarter. Sapient Capital LLC now owns 9,442 shares of the company’s stock worth $389,000 after acquiring an additional 359 shares in the last quarter. Snowden Capital Advisors LLC increased its position in shares of Centene by 8.0% during the second quarter. Snowden Capital Advisors LLC now owns 5,073 shares of the company’s stock worth $275,000 after acquiring an additional 374 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in Centene by 15.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,785 shares of the company’s stock valued at $115,000 after purchasing an additional 379 shares in the last quarter. Institutional investors own 93.63% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $58.00 target price (up from $45.00) on shares of Centene in a research report on Wednesday, April 29th. Bank of America raised their target price on shares of Centene from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Barclays raised their target price on shares of Centene from $63.00 to $75.00 and gave the company an “overweight” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft raised shares of Centene from a “hold” rating to a “buy” rating and raised their target price for the company from $53.00 to $80.00 in a research report on Wednesday, May 20th. Finally, Robert W. Baird raised their target price on shares of Centene from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $57.65.

Read Our Latest Analysis on Centene

Centene Stock Performance

Shares of CNC stock opened at $58.72 on Thursday. The stock has a market cap of $29.00 billion, a P/E ratio of -4.47, a P/E/G ratio of 0.45 and a beta of 1.06. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.12 and a quick ratio of 1.12. The company has a fifty day moving average price of $44.49 and a two-hundred day moving average price of $42.14. Centene Corporation has a one year low of $25.08 and a one year high of $60.76.

Centene (NYSE:CNC – Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $1.14. The firm had revenue of $49.94 billion during the quarter, compared to analysts’ expectations of $47.53 billion. Centene had a negative net margin of 3.25% and a positive return on equity of 5.57%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.90 earnings per share. As a group, equities analysts predict that Centene Corporation will post 3.45 EPS for the current year.

Centene Profile

(Free Report)

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.

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