New York Life Investment Management LLC Cuts Stock Position in Centene Co. (NYSE:CNC)

New York Life Investment Management LLC decreased its holdings in Centene Co. (NYSE:CNC) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 69,302 shares of the company’s stock after selling 3,219 shares during the quarter. New York Life Investment Management LLC’s holdings in Centene were worth $4,198,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Allegiance Financial Group Advisory Services LLC acquired a new position in shares of Centene in the fourth quarter worth $258,000. Impax Asset Management Group plc grew its position in shares of Centene by 60.1% during the fourth quarter. Impax Asset Management Group plc now owns 15,212 shares of the company’s stock worth $922,000 after buying an additional 5,712 shares in the last quarter. Capital Advisors Ltd. LLC raised its holdings in Centene by 75.3% in the fourth quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company’s stock valued at $25,000 after acquiring an additional 177 shares in the last quarter. South Dakota Investment Council lifted its position in shares of Centene by 1.3% during the 4th quarter. South Dakota Investment Council now owns 314,399 shares of the company’s stock worth $19,046,000 after purchasing an additional 4,100 shares during the last quarter. Finally, Howard Capital Management Inc. boosted its position in shares of Centene by 5.4% during the 4th quarter. Howard Capital Management Inc. now owns 3,591 shares of the company’s stock worth $218,000 after acquiring an additional 184 shares in the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Down 0.2 %

Shares of Centene stock opened at $58.06 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.11 and a quick ratio of 1.10. Centene Co. has a 1-year low of $55.03 and a 1-year high of $80.59. The business has a 50-day moving average of $60.98 and a 200-day moving average of $65.18. The company has a market capitalization of $28.80 billion, a PE ratio of 9.30, a P/E/G ratio of 0.80 and a beta of 0.45.

Centene (NYSE:CNC) last released its earnings results on Tuesday, February 4th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.49 by $0.31. The company had revenue of $40.81 billion during the quarter, compared to analysts’ expectations of $38.78 billion. Centene had a return on equity of 13.85% and a net margin of 2.03%. The business’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 EPS. As a group, equities analysts forecast that Centene Co. will post 6.86 EPS for the current fiscal year.

Insider Activity

In other news, Director Thomas Greco acquired 17,000 shares of Centene stock in a transaction that occurred on Wednesday, December 18th. The shares were purchased at an average cost of $59.75 per share, for a total transaction of $1,015,750.00. Following the completion of the purchase, the director now directly owns 19,309 shares of the company’s stock, valued at $1,153,712.75. This trade represents a 736.25 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director H James Dallas bought 1,693 shares of the company’s stock in a transaction on Monday, December 16th. The shares were acquired at an average cost of $59.01 per share, for a total transaction of $99,903.93. Following the completion of the acquisition, the director now directly owns 1,693 shares of the company’s stock, valued at $99,903.93. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 23,693 shares of company stock worth $1,409,954. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price objective on shares of Centene in a research report on Wednesday, December 11th. Wells Fargo & Company dropped their price objective on Centene from $76.00 to $72.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. StockNews.com lowered Centene from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $75.00 price target (down previously from $80.00) on shares of Centene in a research note on Tuesday, December 17th. Finally, Robert W. Baird upped their price objective on shares of Centene from $66.00 to $71.00 in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Centene has an average rating of “Moderate Buy” and an average price target of $79.92.

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.