Kentucky Retirement Systems Insurance Trust Fund Buys Shares of 14,676 Centene Corporation (NYSE:CNC)

Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Centene Corporation (NYSE:CNC - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 14,676 shares of the company's stock, valued at approximately $891,000.

A number of other institutional investors have also modified their holdings of the business. Blue Trust Inc. increased its stake in Centene by 62.6% in the 1st quarter. Blue Trust Inc. now owns 8,621 shares of the company's stock valued at $523,000 after buying an additional 3,318 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of Centene in the 1st quarter worth about $73,000. Envestnet Portfolio Solutions Inc. boosted its position in shares of Centene by 3.5% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 75,130 shares of the company's stock worth $4,561,000 after buying an additional 2,530 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in Centene by 0.6% in the 1st quarter. State of Alaska Department of Revenue now owns 88,564 shares of the company's stock valued at $5,376,000 after purchasing an additional 525 shares in the last quarter. Finally, Clarius Group LLC purchased a new position in Centene in the 1st quarter valued at about $413,000. 93.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CNC shares. Guggenheim reaffirmed a "neutral" rating on shares of Centene in a research note on Tuesday, April 29th. Wall Street Zen downgraded shares of Centene from a "strong-buy" rating to a "buy" rating in a research report on Monday, April 28th. Robert W. Baird dropped their target price on shares of Centene from $71.00 to $69.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Morgan Stanley assumed coverage on shares of Centene in a research report on Monday, June 9th. They set an "overweight" rating and a $70.00 target price for the company. Finally, Jefferies Financial Group decreased their price target on Centene from $64.00 to $61.00 and set a "hold" rating for the company in a report on Tuesday, April 29th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Centene has an average rating of "Moderate Buy" and a consensus price target of $77.71.

Centene Stock Performance

Shares of CNC stock traded up $0.62 during trading on Tuesday, reaching $54.02. The company had a trading volume of 4,232,384 shares, compared to its average volume of 4,935,609. The firm's 50 day simple moving average is $58.14 and its two-hundred day simple moving average is $59.69. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.11 and a quick ratio of 1.11. Centene Corporation has a one year low of $52.93 and a one year high of $80.59. The company has a market capitalization of $26.88 billion, a PE ratio of 8.05, a PEG ratio of 0.64 and a beta of 0.45.

Centene (NYSE:CNC - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.38. The company had revenue of $46.62 billion for the quarter, compared to analyst estimates of $43.16 billion. Centene had a return on equity of 14.56% and a net margin of 2.04%. Centene's revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.26 EPS. Sell-side analysts forecast that Centene Corporation will post 6.86 earnings per share for the current year.

About Centene

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.