Lazard Asset Management LLC Trims Stake in Centene Co. (NYSE:CNC)

Lazard Asset Management LLC lowered its stake in Centene Co. (NYSE:CNC - Free Report) by 66.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 50,195 shares of the company's stock after selling 97,294 shares during the period. Lazard Asset Management LLC's holdings in Centene were worth $3,039,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital Advisors Ltd. LLC grew its stake in shares of Centene by 75.3% in the fourth quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company's stock worth $25,000 after acquiring an additional 177 shares during the last quarter. Hurley Capital LLC purchased a new stake in Centene during the 4th quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new stake in Centene during the 4th quarter valued at about $30,000. OFI Invest Asset Management bought a new position in shares of Centene in the fourth quarter worth approximately $33,000. Finally, SRS Capital Advisors Inc. lifted its stake in shares of Centene by 73.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 631 shares of the company's stock worth $38,000 after buying an additional 267 shares in the last quarter. Institutional investors own 93.63% of the company's stock.

Centene Stock Performance

Shares of NYSE CNC traded down $1.89 during midday trading on Thursday, hitting $58.85. 1,316,774 shares of the stock traded hands, compared to its average volume of 4,860,446. The firm has a 50-day moving average of $60.85 and a two-hundred day moving average of $60.44. The firm has a market capitalization of $29.28 billion, a P/E ratio of 9.43, a PEG ratio of 0.80 and a beta of 0.48. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 1.11. Centene Co. has a one year low of $55.03 and a one year high of $80.59.

Centene (NYSE:CNC - Get Free Report) last released its quarterly 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 firm had revenue of $46.62 billion for the quarter, compared to analysts' expectations of $43.16 billion. Centene had a return on equity of 13.85% and a net margin of 2.03%. The company's revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.26 EPS. On average, equities analysts forecast that Centene Co. will post 6.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CNC shares. Wall Street Zen downgraded shares of Centene from a "strong-buy" rating to a "buy" rating in a research note on Monday, April 28th. Robert W. Baird dropped their target price on shares of Centene from $71.00 to $69.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Jefferies Financial Group dropped their target price on shares of Centene from $64.00 to $61.00 and set a "hold" rating on the stock in a research note on Tuesday, April 29th. Guggenheim reiterated a "neutral" rating on shares of Centene in a research note on Tuesday, April 29th. Finally, Argus downgraded shares of Centene from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Centene has a consensus rating of "Moderate Buy" and a consensus price target of $79.77.

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.