Allspring Global Investments Holdings LLC Decreases Stake in Centene Co. (NYSE:CNC)

Allspring Global Investments Holdings LLC lessened its position in Centene Co. (NYSE:CNC) by 53.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 190,186 shares of the company’s stock after selling 221,306 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Centene were worth $11,508,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Stratos Wealth Partners LTD. lifted its holdings in Centene by 4.1% in the 4th 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. Mount Yale Investment Advisors LLC lifted its stake in Centene by 2.1% in the third quarter. Mount Yale Investment Advisors LLC now owns 8,082 shares of the company’s stock worth $608,000 after acquiring an additional 167 shares during the period. Aptus Capital Advisors LLC increased its position in Centene by 6.2% during the 3rd quarter. Aptus Capital Advisors LLC now owns 3,722 shares of the company’s stock valued at $280,000 after purchasing an additional 217 shares during the period. Forte Capital LLC ADV raised its holdings in Centene by 5.5% in the 3rd quarter. Forte Capital LLC ADV now owns 5,320 shares of the company’s stock worth $400,000 after purchasing an additional 275 shares in the last quarter. Finally, GAM Holding AG lifted its position in shares of Centene by 0.3% in the 3rd quarter. GAM Holding AG now owns 88,973 shares of the company’s stock worth $6,698,000 after purchasing an additional 288 shares during the period. 93.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

CNC has been the subject of a number of research reports. StockNews.com downgraded shares of Centene from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Truist Financial decreased their target price on Centene from $89.00 to $84.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Oppenheimer reduced their price target on Centene from $95.00 to $85.00 and set an “outperform” rating on the stock in a research note on Friday, December 13th. Argus lowered Centene from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Stephens reduced their target price 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 investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $79.92.

Centene Trading Up 0.1 %

Shares of CNC stock opened at $56.87 on Tuesday. The stock has a market capitalization of $28.71 billion, a P/E ratio of 9.11, a P/E/G ratio of 0.79 and a beta of 0.45. The company has a current ratio of 1.11, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70. The firm’s 50 day moving average is $61.08 and its 200 day moving average is $66.39. Centene Co. has a 12-month low of $55.03 and a 12-month high of $81.42.

Centene (NYSE:CNC) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.49 by $0.31. The company had revenue of $40.81 billion during the quarter, compared to analyst estimates of $38.78 billion. Centene had a return on equity of 13.85% and a net margin of 2.03%. Centene’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 earnings per share. Research analysts expect that Centene Co. will post 6.97 earnings per share for the current year.

Insider Transactions at Centene

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

Centene 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.