Sumitomo Mitsui Trust Group Inc. Has $99.37 Million Stock Holdings in Centene Corporation (NYSE:CNC)

Sumitomo Mitsui Trust Group Inc. cut its position in shares of Centene Corporation (NYSE:CNC - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,636,859 shares of the company's stock after selling 20,356 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.33% of Centene worth $99,374,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Captrust Financial Advisors boosted its stake in shares of Centene by 55.6% during the 4th quarter. Captrust Financial Advisors now owns 45,103 shares of the company's stock worth $2,732,000 after acquiring an additional 16,108 shares in the last quarter. Diametric Capital LP acquired a new position in shares of Centene in the 4th quarter valued at $610,000. LPL Financial LLC increased its stake in Centene by 85.6% in the 4th quarter. LPL Financial LLC now owns 216,928 shares of the company's stock worth $13,142,000 after purchasing an additional 100,039 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Centene by 32.3% during the first quarter. Farther Finance Advisors LLC now owns 6,333 shares of the company's stock valued at $383,000 after buying an additional 1,546 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Centene by 41.4% in the fourth quarter. BNP Paribas Financial Markets now owns 925,150 shares of the company's stock worth $56,046,000 after buying an additional 270,899 shares during the period. Institutional investors own 93.63% of the company's stock.

Centene Stock Up 0.4%

Shares of CNC traded up $0.23 during mid-day trading on Monday, hitting $54.22. 5,444,367 shares of the company's stock were exchanged, compared to its average volume of 4,934,820. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.65. Centene Corporation has a twelve month low of $52.93 and a twelve month high of $80.59. The firm has a fifty day moving average of $57.69 and a two-hundred day moving average of $59.63. The stock has a market cap of $26.98 billion, a price-to-earnings ratio of 8.08, a P/E/G ratio of 0.65 and a beta of 0.45.

Centene (NYSE:CNC - Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $2.90 earnings per share for the quarter, beating 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%. The business's revenue was up 15.4% compared to the same quarter last year. During the same period last year, the company earned $2.26 earnings per share. On average, sell-side analysts forecast that Centene Corporation will post 6.86 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Guggenheim restated a "neutral" rating on shares of Centene in a research report on Tuesday, April 29th. Jefferies Financial Group decreased their target price on Centene from $64.00 to $61.00 and set a "hold" rating for the company in a research report on Tuesday, April 29th. Barclays reiterated an "equal weight" rating and set a $65.00 price target (down previously from $84.00) on shares of Centene in a report on Monday, June 2nd. Morgan Stanley started coverage on Centene in a research report on Monday, June 9th. They set an "overweight" rating and a $70.00 price objective for the company. Finally, Robert W. Baird dropped their target price on Centene from $71.00 to $69.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $77.71.

Centene 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.