Achmea Investment Management B.V. Reduces Stock Holdings in Centene Corporation (NYSE:CNC)

Achmea Investment Management B.V. decreased its position in Centene Corporation (NYSE:CNC - Free Report) by 66.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,321 shares of the company's stock after selling 64,714 shares during the period. Achmea Investment Management B.V.'s holdings in Centene were worth $2,023,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of CNC. Proficio Capital Partners LLC purchased a new position in Centene in the fourth quarter valued at approximately $3,589,000. Private Trust Co. NA lifted 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 in the last quarter. SVB Wealth LLC purchased a new stake in shares of Centene during the fourth quarter worth $433,000. Metis Global Partners LLC lifted its position in shares of Centene by 9.7% during the fourth quarter. Metis Global Partners LLC now owns 23,293 shares of the company's stock worth $1,411,000 after acquiring an additional 2,063 shares in the last quarter. Finally, Factorial Partners LLC purchased a new stake in shares of Centene during the fourth quarter worth $3,241,000. Hedge funds and other institutional investors own 93.63% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on CNC shares. Guggenheim restated a "neutral" rating on shares of Centene in a research report on Tuesday, April 29th. Morgan Stanley started coverage on Centene in a research report on Monday, June 9th. They set an "overweight" rating and a $70.00 target price on the stock. Jefferies Financial Group dropped their target price on Centene from $64.00 to $61.00 and set a "hold" rating on the stock in a research report on Tuesday, April 29th. Robert W. Baird dropped their target price on Centene from $71.00 to $69.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Finally, Barclays reiterated an "equal weight" rating and issued a $65.00 price objective (down previously from $84.00) on shares of Centene in a research report on Monday, June 2nd. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $77.71.

Centene Stock Up 0.8%

CNC opened at $53.98 on Friday. The stock has a market cap of $26.86 billion, a PE ratio of 8.04, a P/E/G ratio of 0.65 and a beta of 0.45. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.65. Centene Corporation has a 52 week low of $52.93 and a 52 week high of $80.59. The business's fifty day simple moving average is $57.69 and its 200 day simple moving average is $59.62.

Centene (NYSE:CNC - Get Free Report) last released its earnings results on Friday, April 25th. The company reported $2.90 EPS for the quarter, beating analysts' consensus estimates of $2.52 by $0.38. The business had revenue of $46.62 billion for the quarter, compared to analysts' expectations of $43.16 billion. Centene had a return on equity of 14.56% and a net margin of 2.04%. The firm's revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.26 earnings per share. As a group, research analysts expect that Centene Corporation will post 6.86 earnings per share 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.

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