Kapitalo Investimentos Ltda Lowers Position in Centene Co. (NYSE:CNC)

Kapitalo Investimentos Ltda cut its stake in Centene Co. (NYSE:CNC - Free Report) by 88.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 595 shares of the company's stock after selling 4,387 shares during the quarter. Kapitalo Investimentos Ltda's holdings in Centene were worth $36,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Virtu Financial LLC acquired a new position in shares of Centene in the third quarter valued at approximately $844,000. Wilmington Savings Fund Society FSB acquired a new position in Centene in the 3rd quarter valued at $211,000. Tidal Investments LLC lifted its position in shares of Centene by 21.8% during the 3rd quarter. Tidal Investments LLC now owns 42,117 shares of the company's stock valued at $3,171,000 after acquiring an additional 7,549 shares during the period. B. Riley Wealth Advisors Inc. increased its position in shares of Centene by 32.4% in the third quarter. B. Riley Wealth Advisors Inc. now owns 4,152 shares of the company's stock worth $307,000 after purchasing an additional 1,016 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Centene by 3.7% in the third quarter. Principal Financial Group Inc. now owns 621,664 shares of the company's stock valued at $46,799,000 after purchasing an additional 22,233 shares in the last quarter. Institutional investors and hedge funds own 93.63% of the company's stock.

Centene Stock Performance

Centene stock traded down $0.37 during mid-day trading on Monday, reaching $59.79. The company's stock had a trading volume of 5,499,541 shares, compared to its average volume of 4,768,907. Centene Co. has a 12-month low of $55.03 and a 12-month high of $80.59. The firm's fifty day moving average price is $60.17 and its two-hundred day moving average price is $60.48. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 1.11. The company has a market capitalization of $29.75 billion, a P/E ratio of 9.58, a PEG ratio of 0.80 and a beta of 0.53.

Centene (NYSE:CNC - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $2.90 earnings per share for the quarter, beating analysts' consensus estimates of $2.52 by $0.38. The business had revenue of $46.62 billion for the quarter, compared to the consensus estimate of $43.16 billion. Centene had a net margin of 2.03% and a return on equity of 13.85%. Centene's quarterly revenue was up 15.4% on a year-over-year basis. During the same period last year, the firm posted $2.26 earnings per share. Sell-side analysts predict that Centene Co. will post 6.86 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on CNC shares. Robert W. Baird reduced their price target 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 note on Thursday, February 6th. Wells Fargo & Company reduced their price target on Centene from $76.00 to $72.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. Guggenheim restated a "neutral" rating on shares of Centene in a report on Tuesday, April 29th. 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 research note 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 MarketBeat.com, the stock presently has an average 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.