Sumitomo Mitsui Trust Holdings Inc. Decreases Stake in Centene Corp (NYSE:CNC)

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in shares of Centene Corp (NYSE:CNC) by 10.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,608,239 shares of the company’s stock after selling 191,304 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.39% of Centene worth $84,336,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CNC. Toth Financial Advisory Corp boosted its position in shares of Centene by 100.0% during the 1st quarter. Toth Financial Advisory Corp now owns 480 shares of the company’s stock worth $25,000 after purchasing an additional 240 shares in the last quarter. Huntington National Bank boosted its position in shares of Centene by 110.7% during the 1st quarter. Huntington National Bank now owns 472 shares of the company’s stock worth $25,000 after purchasing an additional 248 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Centene during the 1st quarter worth $27,000. Shamrock Asset Management LLC boosted its position in shares of Centene by 100.0% during the 1st quarter. Shamrock Asset Management LLC now owns 522 shares of the company’s stock worth $28,000 after purchasing an additional 261 shares in the last quarter. Finally, North Star Investment Management Corp. boosted its position in shares of Centene by 100.0% during the 1st quarter. North Star Investment Management Corp. now owns 600 shares of the company’s stock worth $32,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 90.90% of the company’s stock.

CNC has been the topic of several research analyst reports. Cantor Fitzgerald restated a “buy” rating and set a $83.00 target price on shares of Centene in a research report on Sunday, April 21st. Morgan Stanley decreased their price objective on shares of Centene from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. ValuEngine lowered shares of Centene from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. SunTrust Banks decreased their price objective on shares of Centene to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. Finally, Zacks Investment Research lowered shares of Centene from a “buy” rating to a “hold” rating and set a $59.00 price objective on the stock. in a research report on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $75.26.

Shares of Centene stock traded down $0.75 on Friday, hitting $48.70. The company’s stock had a trading volume of 3,472,146 shares, compared to its average volume of 5,314,069. Centene Corp has a 52-week low of $45.44 and a 52-week high of $74.49. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.58. The business has a fifty day moving average of $52.47. The stock has a market cap of $20.14 billion, a P/E ratio of 13.76, a P/E/G ratio of 0.78 and a beta of 0.83.

Centene (NYSE:CNC) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.24 by $0.10. Centene had a net margin of 1.84% and a return on equity of 15.87%. The business had revenue of $18.36 billion for the quarter, compared to analyst estimates of $18.02 billion. During the same period in the previous year, the firm earned $0.90 EPS. The business’s revenue for the quarter was up 29.4% compared to the same quarter last year. As a group, analysts expect that Centene Corp will post 4.41 earnings per share for the current year.

In other news, Director Jessica L. Blume bought 2,850 shares of Centene stock in a transaction on Friday, July 26th. The shares were bought at an average cost of $52.99 per share, for a total transaction of $151,021.50. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.50% of the stock is currently owned by corporate insiders.

About Centene

Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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