Mackenzie Financial Corp Sells 115,830 Shares of Centene Co. (NYSE:CNC)

Mackenzie Financial Corp decreased its holdings in shares of Centene Co. (NYSE:CNC - Free Report) by 44.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 145,638 shares of the company's stock after selling 115,830 shares during the quarter. Mackenzie Financial Corp's holdings in Centene were worth $8,823,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of CNC. Capital Advisors Ltd. LLC boosted its stake in Centene by 75.3% during the fourth quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company's stock valued at $25,000 after buying an additional 177 shares during the period. Pinney & Scofield Inc. purchased a new position in shares of Centene in the fourth quarter valued at about $25,000. Hurley Capital LLC bought a new position in shares of Centene during the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC bought a new position in shares of Centene during the fourth quarter valued at approximately $30,000. Finally, Studio Investment Management LLC purchased a new stake in Centene in the fourth quarter worth about $32,000. Institutional investors own 93.63% of the company's stock.

Centene Stock Down 0.3%

Shares of CNC traded down $0.16 during trading hours on Friday, hitting $56.36. 6,738,320 shares of the company were exchanged, compared to its average volume of 4,889,053. The company has a market cap of $28.04 billion, a PE ratio of 9.03, a PEG ratio of 0.80 and a beta of 0.48. The firm's 50 day moving average is $60.55 and its 200-day moving average is $60.21. Centene Co. has a 52 week low of $55.03 and a 52 week high of $80.59. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 1.11.

Centene (NYSE:CNC - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $43.16 billion. Centene had a net margin of 2.03% and a return on equity of 13.85%. The firm's revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.26 earnings per share. On average, equities research analysts forecast that Centene Co. will post 6.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CNC has been the topic of a number of research analyst reports. Robert W. Baird lowered their price objective on shares of Centene from $71.00 to $69.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Argus downgraded shares of Centene from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. 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. Barclays reduced their target price on shares of Centene from $93.00 to $84.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Finally, Wall Street Zen downgraded shares of Centene from a "strong-buy" rating to a "buy" rating in a report on Monday, April 28th. 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 MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $79.77.

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.