Corebridge Financial Inc. Has $7.79 Million Stake in Centene Co. (NYSE:CNC)

Corebridge Financial Inc. reduced its stake in shares of Centene Co. (NYSE:CNC) by 17.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 128,588 shares of the company’s stock after selling 26,846 shares during the quarter. Corebridge Financial Inc.’s holdings in Centene were worth $7,790,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Stratos Wealth Partners LTD. boosted its stake in Centene by 4.1% in the fourth quarter. Stratos Wealth Partners LTD. now owns 4,094 shares of the company’s stock valued at $248,000 after buying an additional 163 shares in the last quarter. Capital Advisors Ltd. LLC increased 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 purchasing an additional 177 shares during the period. Private Trust Co. NA raised its position in shares of Centene by 23.7% during the fourth quarter. Private Trust Co. NA now owns 956 shares of the company’s stock worth $58,000 after acquiring an additional 183 shares during the last quarter. Howard Capital Management Inc. raised its holdings in 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 purchasing an additional 184 shares during the last quarter. Finally, Intellectus Partners LLC lifted its holdings in Centene by 2.8% in the fourth quarter. Intellectus Partners LLC now owns 7,224 shares of the company’s stock valued at $438,000 after buying an additional 200 shares during the period. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Price Performance

Shares of NYSE:CNC opened at $60.23 on Friday. Centene Co. has a 12 month low of $55.03 and a 12 month high of $80.59. 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 stock has a market cap of $29.88 billion, a P/E ratio of 9.65, a P/E/G ratio of 0.80 and a beta of 0.40. The company has a 50 day moving average of $59.98 and a 200 day moving average of $62.86.

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

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $75.00 price target (down from $80.00) on shares of Centene in a research note on Tuesday, December 17th. StockNews.com downgraded Centene from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Stephens reduced their target price on shares of Centene from $75.00 to $73.00 and set an “equal weight” rating for the company in a research note on Friday, December 13th. UBS Group upgraded Centene from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $79.00 to $80.00 in a report on Friday, December 13th. Finally, Argus lowered shares of Centene from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the 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.