Robeco Institutional Asset Management B.V. Sells 5,018 Shares of Centene Corporation (NYSE:CNC)

Robeco Institutional Asset Management B.V. lessened its holdings in Centene Corporation (NYSE:CNC - Free Report) by 0.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 902,674 shares of the company's stock after selling 5,018 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.18% of Centene worth $54,801,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Atria Wealth Solutions Inc. grew its stake in shares of Centene by 23.4% in the fourth quarter. Atria Wealth Solutions Inc. now owns 9,710 shares of the company's stock worth $588,000 after purchasing an additional 1,842 shares during the last quarter. Allegiance Financial Group Advisory Services LLC acquired a new stake in shares of Centene in the fourth quarter valued at about $258,000. Mn Services Vermogensbeheer B.V. raised its position in shares of Centene by 1.7% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 208,300 shares of the company's stock worth $12,619,000 after acquiring an additional 3,400 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co lifted its stake in shares of Centene by 22.7% in the fourth quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 3,851 shares of the company's stock worth $233,000 after acquiring an additional 712 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its holdings in Centene by 33.2% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 155,366 shares of the company's stock valued at $9,412,000 after acquiring an additional 38,732 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on CNC. Robert W. Baird decreased their target price on Centene from $71.00 to $69.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Morgan Stanley assumed coverage on Centene in a research note on Monday, June 9th. They issued an "overweight" rating and a $70.00 target price for the company. Wall Street Zen lowered shares of Centene from a "strong-buy" rating to a "buy" rating in a research note on Monday, April 28th. Barclays reaffirmed an "equal weight" rating and issued a $65.00 price objective (down from $84.00) on shares of Centene in a research report on Monday, June 2nd. Finally, 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. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $77.71.

Centene Stock Performance

Centene stock opened at $53.54 on Friday. Centene Corporation has a fifty-two week low of $52.93 and a fifty-two week high of $80.59. The firm's fifty day moving average price is $57.83 and its 200-day moving average price is $59.62. The stock has a market cap of $26.64 billion, a P/E ratio of 7.98, a price-to-earnings-growth ratio of 0.64 and a beta of 0.45. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.11 and a current ratio of 1.11.

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

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