Corient Private Wealth LLC Decreases Holdings in Centene Co. (NYSE:CNC)

Corient Private Wealth LLC cut its holdings in shares of Centene Co. (NYSE:CNC) by 9.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 83,791 shares of the company’s stock after selling 9,243 shares during the quarter. Corient Private Wealth LLC’s holdings in Centene were worth $5,076,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Stratos Wealth Partners LTD. increased its stake in shares of Centene by 4.1% in the fourth quarter. Stratos Wealth Partners LTD. now owns 4,094 shares of the company’s stock worth $248,000 after buying an additional 163 shares during the period. Capital Advisors Ltd. LLC increased its stake in shares of Centene by 75.3% in the fourth quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company’s stock worth $25,000 after buying an additional 177 shares during the period. Private Trust Co. NA increased its stake in shares of Centene by 23.7% in the fourth quarter. Private Trust Co. NA now owns 956 shares of the company’s stock worth $58,000 after buying an additional 183 shares during the period. Howard Capital Management Inc. increased its stake in shares of Centene by 5.4% in the fourth quarter. Howard Capital Management Inc. now owns 3,591 shares of the company’s stock worth $218,000 after buying an additional 184 shares during the period. Finally, Intellectus Partners LLC increased its stake in shares of Centene by 2.8% in the fourth quarter. Intellectus Partners LLC now owns 7,224 shares of the company’s stock worth $438,000 after buying an additional 200 shares during the period. 93.63% of the stock is owned by hedge funds and other institutional investors.

Centene Stock Performance

Shares of Centene stock opened at $58.88 on Friday. The stock has a market cap of $29.21 billion, a price-to-earnings ratio of 9.44, a PEG ratio of 0.80 and a beta of 0.40. The firm’s 50-day moving average is $60.27 and its 200 day moving average is $63.27. Centene Co. has a 1 year low of $55.03 and a 1 year high of $80.59. 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 (NYSE:CNC) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.31. The company had revenue of $40.81 billion for the quarter, compared to analysts’ expectations of $38.78 billion. Centene had a net margin of 2.03% and a return on equity of 13.85%. Centene’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.45 EPS. Sell-side analysts anticipate that Centene Co. will post 6.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Wells Fargo & Company decreased their target price on shares of Centene from $76.00 to $72.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Robert W. Baird boosted their price objective on shares of Centene from $66.00 to $71.00 in a research report on Tuesday, February 4th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $75.00 price objective (down from $80.00) on shares of Centene in a research report on Tuesday, December 17th. Argus downgraded shares of Centene from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Stephens reduced their price objective on shares of Centene from $75.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.