Centene Co. (NYSE:CNC) Stock Position Decreased by Franklin Resources Inc.

Franklin Resources Inc. cut its position in shares of Centene Co. (NYSE:CNC) by 57.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,760 shares of the company’s stock after selling 149,323 shares during the period. Franklin Resources Inc.’s holdings in Centene were worth $6,589,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CNC. Capital Advisors Ltd. LLC grew its holdings in Centene by 75.3% in the 4th quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company’s stock valued at $25,000 after buying an additional 177 shares during the last quarter. Rialto Wealth Management LLC bought a new position in Centene in the 4th quarter valued at $30,000. OFI Invest Asset Management bought a new position in Centene in the 4th quarter valued at $33,000. SRS Capital Advisors Inc. raised its position in Centene by 73.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 631 shares of the company’s stock valued at $38,000 after purchasing an additional 267 shares during the last quarter. Finally, Riverview Trust Co raised its position in shares of Centene by 172.7% during the fourth quarter. Riverview Trust Co now owns 758 shares of the company’s stock worth $46,000 after acquiring an additional 480 shares during the last quarter. 93.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CNC shares. Robert W. Baird boosted their target price on Centene from $66.00 to $71.00 in a research note on Tuesday, February 4th. Guggenheim assumed coverage on Centene in a research note on Wednesday. They issued a “neutral” rating on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 target price on shares of Centene in a research note on Wednesday, December 11th. Argus downgraded Centene from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Stephens reduced their target price on Centene from $75.00 to $73.00 and set an “equal weight” rating on the stock in a report on Friday, December 13th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $80.85.

Centene Stock Performance

Centene stock opened at $62.65 on Thursday. The company’s 50-day moving average price is $59.49 and its 200-day moving average price is $61.89. Centene Co. has a twelve month low of $55.03 and a twelve month high of $80.59. The company has a market cap of $31.08 billion, a PE ratio of 10.04, a price-to-earnings-growth ratio of 0.80 and a beta of 0.53. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.70.

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

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.