Moloney Securities Asset Management LLC Trims Position in Centene Corporation (NYSE:CNC)

Moloney Securities Asset Management LLC cut its holdings in shares of Centene Corporation (NYSE:CNC - Free Report) by 78.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,145 shares of the company's stock after selling 21,905 shares during the quarter. Moloney Securities Asset Management LLC's holdings in Centene were worth $373,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. LBP AM SA purchased a new position in Centene during the 1st quarter worth approximately $942,000. Westbourne Investment Advisors Inc. raised its position in Centene by 3.2% during the 1st quarter. Westbourne Investment Advisors Inc. now owns 86,146 shares of the company's stock worth $5,230,000 after buying an additional 2,687 shares during the last quarter. Linden Thomas Advisory Services LLC raised its position in Centene by 12.7% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 10,407 shares of the company's stock worth $632,000 after buying an additional 1,171 shares during the last quarter. Greenleaf Trust increased its holdings in shares of Centene by 38.9% during the 1st quarter. Greenleaf Trust now owns 6,714 shares of the company's stock valued at $408,000 after purchasing an additional 1,880 shares in the last quarter. Finally, OMNI 360 Wealth Inc. purchased a new position in shares of Centene during the 1st quarter valued at approximately $316,000. 93.63% of the stock is owned by hedge funds and other institutional investors.

Centene Trading Down 1.8%

Shares of CNC opened at $32.49 on Friday. Centene Corporation has a 52-week low of $31.78 and a 52-week high of $80.59. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.65. The firm's fifty day moving average is $53.79 and its two-hundred day moving average is $58.30. The stock has a market cap of $16.16 billion, a PE ratio of 4.84, a price-to-earnings-growth ratio of 0.49 and a beta of 0.44.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CNC. UBS Group reaffirmed a "neutral" rating and set a $45.00 target price (down from $80.00) on shares of Centene in a report on Wednesday, July 2nd. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $48.00 target price (down from $75.00) on shares of Centene in a report on Wednesday, July 2nd. Robert W. Baird cut their target price on shares of Centene from $71.00 to $69.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Jefferies Financial Group cut their target price on shares of Centene from $64.00 to $61.00 and set a "hold" rating for the company in a report on Tuesday, April 29th. Finally, Morgan Stanley lowered shares of Centene from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $70.00 to $33.00 in a report on Thursday. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $66.40.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.