Universal Beteiligungs und Servicegesellschaft mbH Trims Position in Centene Corporation (NYSE:CNC)

Universal Beteiligungs und Servicegesellschaft mbH reduced its position in Centene Corporation (NYSE:CNC - Free Report) by 3.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 413,963 shares of the company's stock after selling 15,016 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.08% of Centene worth $25,132,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CNC. LPL Financial LLC increased its stake in Centene by 85.6% in the fourth quarter. LPL Financial LLC now owns 216,928 shares of the company's stock valued at $13,142,000 after purchasing an additional 100,039 shares during the period. Zions Bancorporation N.A. raised its stake in Centene by 39.5% during the 4th quarter. Zions Bancorporation N.A. now owns 3,251 shares of the company's stock valued at $197,000 after acquiring an additional 921 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in Centene during the 4th quarter worth approximately $321,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Centene by 9.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 839,889 shares of the company's stock valued at $51,636,000 after purchasing an additional 72,326 shares during the period. Finally, UniSuper Management Pty Ltd lifted its holdings in shares of Centene by 2.8% during the fourth quarter. UniSuper Management Pty Ltd now owns 51,433 shares of the company's stock worth $3,116,000 after purchasing an additional 1,412 shares during the period. 93.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CNC has been the subject of a number of analyst reports. Jefferies Financial Group cut their price objective on shares of Centene from $64.00 to $61.00 and set a "hold" rating for the company in a research report on Tuesday, April 29th. Mizuho cut their price target on shares of Centene from $71.00 to $40.00 and set a "neutral" rating for the company in a report on Friday, July 11th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $48.00 price objective (down previously from $75.00) on shares of Centene in a report on Wednesday, July 2nd. Truist Financial cut their target price on Centene from $84.00 to $42.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Finally, Bank of America downgraded Centene from a "neutral" rating to an "underperform" rating and decreased their price target for the company from $52.00 to $30.00 in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Centene currently has an average rating of "Hold" and an average target price of $49.94.

Centene Price Performance

NYSE:CNC traded up $1.60 during mid-day trading on Friday, hitting $28.36. 63,439,459 shares of the company's stock traded hands, compared to its average volume of 21,896,604. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $14.11 billion, a PE ratio of 7.02, a price-to-earnings-growth ratio of 0.53 and a beta of 0.44. The firm's 50 day simple moving average is $46.76 and its 200 day simple moving average is $55.82. Centene Corporation has a 1 year low of $26.25 and a 1 year high of $80.59.

Centene (NYSE:CNC - Get Free Report) last issued its quarterly earnings data on Friday, July 25th. The company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.39). The business had revenue of $48.74 billion for the quarter, compared to analysts' expectations of $44.71 billion. 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% on a year-over-year basis. During the same period last year, the business earned $2.42 earnings per share. Sell-side analysts expect that Centene Corporation will post 6.86 EPS for the current year.

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.