TIAA Trust National Association Sells 796 Shares of Centene Co. (NYSE:CNC)

TIAA Trust National Association reduced its holdings in Centene Co. (NYSE:CNC) by 12.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,530 shares of the company’s stock after selling 796 shares during the quarter. TIAA Trust National Association’s holdings in Centene were worth $335,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Algert Global LLC bought a new stake in Centene during the third quarter valued at approximately $761,000. Private Trust Co. NA lifted its holdings in shares of Centene by 75.3% during the 3rd quarter. Private Trust Co. NA now owns 773 shares of the company’s stock worth $58,000 after acquiring an additional 332 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Centene by 2.8% in the third quarter. BNP Paribas Financial Markets now owns 654,251 shares of the company’s stock valued at $49,252,000 after acquiring an additional 18,066 shares during the last quarter. Glenmede Trust Co. NA raised its position in Centene by 3.5% during the third quarter. Glenmede Trust Co. NA now owns 249,105 shares of the company’s stock valued at $18,753,000 after purchasing an additional 8,316 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Centene by 0.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 304,148 shares of the company’s stock worth $22,896,000 after purchasing an additional 2,556 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.

Centene Stock Performance

NYSE:CNC opened at $59.96 on Friday. 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 Co. has a twelve month low of $55.03 and a twelve month high of $80.59. The stock has a market cap of $29.74 billion, a P/E ratio of 9.61, a price-to-earnings-growth ratio of 0.80 and a beta of 0.40. The firm’s fifty day simple moving average is $59.94 and its 200 day simple moving average is $62.79.

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, beating the consensus estimate 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 quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.45 earnings per share. As a group, research analysts predict that Centene Co. will post 6.86 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Robert W. Baird raised their price objective on Centene from $66.00 to $71.00 in a report on Tuesday, February 4th. Barclays boosted their price objective on shares of Centene from $91.00 to $93.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Argus cut shares of Centene from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Jefferies Financial Group lowered shares of Centene from a “hold” rating to an “underperform” rating and cut their price target for the company from $68.00 to $52.00 in a research report on Tuesday, December 10th. Finally, Truist Financial decreased their price objective on Centene from $89.00 to $84.00 and set a “buy” rating on the stock in a 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 given a buy rating to the stock. According to MarketBeat.com, Centene has an average rating of “Moderate Buy” and an average target price 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.