Homestead Advisers Corp Has $37.74 Million Stock Holdings in Centene Corporation (NYSE:CNC)

Homestead Advisers Corp reduced its position in Centene Corporation (NYSE:CNC - Free Report) by 20.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 621,636 shares of the company's stock after selling 158,100 shares during the period. Homestead Advisers Corp owned 0.12% of Centene worth $37,740,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB grew its holdings in Centene by 8.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 2,092 shares of the company's stock worth $127,000 after acquiring an additional 169 shares during the period. Poinciana Advisors Group LLC boosted its position in shares of Centene by 2.8% in the 1st quarter. Poinciana Advisors Group LLC now owns 7,221 shares of the company's stock worth $438,000 after purchasing an additional 195 shares during 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 purchasing an additional 202 shares during the period. Allworth Financial LP lifted its stake in Centene by 6.1% in the first quarter. Allworth Financial LP now owns 4,387 shares of the company's stock valued at $270,000 after buying an additional 254 shares during the period. Finally, Synovus Financial Corp boosted its holdings in Centene by 5.3% during the fourth quarter. Synovus Financial Corp now owns 5,216 shares of the company's stock worth $316,000 after buying an additional 264 shares during the last quarter. Institutional investors own 93.63% of the company's stock.

Centene Stock Up 4.8%

Shares of NYSE:CNC traded up $1.28 during mid-day trading on Friday, reaching $28.04. 46,050,345 shares of the stock were exchanged, compared to its average volume of 7,553,626. The stock's 50 day simple moving average is $47.43 and its 200-day simple moving average is $56.11. Centene Corporation has a one year low of $26.25 and a one year high of $80.59. The company has a market cap of $13.95 billion, a P/E ratio of 4.18, a P/E/G ratio of 0.55 and a beta of 0.44. 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 (NYSE:CNC - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.39). Centene had a return on equity of 14.56% and a net margin of 2.04%. The company's revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.42 EPS. As a group, equities research analysts predict that Centene Corporation will post 6.86 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CNC shares. Wells Fargo & Company downgraded shares of Centene from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $72.00 to $30.00 in a research report on Wednesday. Cantor Fitzgerald cut their target price on shares of Centene from $90.00 to $65.00 and set an "overweight" rating on the stock in a report on Wednesday, July 2nd. Robert W. Baird decreased their price target on shares of Centene from $68.00 to $28.00 and set a "neutral" rating for the company in a report on Friday. Jefferies Financial Group dropped their price objective on Centene from $64.00 to $61.00 and set a "hold" rating on the stock in a research note on Tuesday, April 29th. Finally, Oppenheimer decreased their target price on Centene from $85.00 to $51.00 and set an "outperform" rating for the company in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $49.94.

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.