Groupama Asset Managment Sells 19,677 Shares of Centene Co. (NYSE:CNC)

Groupama Asset Managment decreased its holdings in Centene Co. (NYSE:CNC) by 53.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 16,948 shares of the company’s stock after selling 19,677 shares during the period. Groupama Asset Managment’s holdings in Centene were worth $1,023,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Diametric Capital LP acquired a new position in Centene during the fourth quarter worth about $610,000. AIA Group Ltd bought a new position in Centene in the 4th quarter valued at approximately $411,000. CIBC Private Wealth Group LLC boosted its position in Centene by 45.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 9,242 shares of the company’s stock valued at $584,000 after buying an additional 2,871 shares in the last quarter. MV Capital Management Inc. grew its stake in shares of Centene by 0.6% during the fourth quarter. MV Capital Management Inc. now owns 31,889 shares of the company’s stock worth $1,932,000 after buying an additional 202 shares during the last quarter. Finally, Allianz SE acquired a new stake in Centene during the 4th quarter worth approximately $190,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Up 0.4 %

Centene stock opened at $60.69 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 1.11. The stock has a market cap of $30.10 billion, a PE ratio of 9.73, a price-to-earnings-growth ratio of 0.80 and a beta of 0.40. Centene Co. has a fifty-two week low of $55.03 and a fifty-two week high of $80.59. The firm’s 50-day simple moving average is $59.79 and its 200 day simple moving average is $62.44.

Centene (NYSE:CNC) last issued its quarterly 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 return on equity of 13.85% and a net margin of 2.03%. The company had revenue of $40.81 billion during the quarter, compared to the consensus estimate of $38.78 billion. During the same period last year, the business posted $0.45 earnings per share. Centene’s revenue was up 3.4% on a year-over-year basis. Research analysts predict that Centene Co. will post 6.86 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Barclays raised their price target on shares of Centene from $91.00 to $93.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Truist Financial dropped their price target on shares of Centene from $89.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Oppenheimer lowered their price objective on Centene from $95.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, December 13th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $75.00 price objective (down previously from $80.00) on shares of Centene in a research report on Tuesday, December 17th. Finally, UBS Group raised Centene from a “neutral” rating to a “buy” rating and upped their price target for the stock from $79.00 to $80.00 in a research note on Friday, December 13th. One 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. According to data from MarketBeat, the company has a consensus 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.