Robeco Institutional Asset Management B.V. Has $15.70 Million Stock Holdings in Centene Corporation $CNC

Robeco Institutional Asset Management B.V. trimmed its stake in shares of Centene Corporation (NYSE:CNC) by 60.4% in the third quarter, HoldingsChannel.com reports. The fund owned 440,011 shares of the company’s stock after selling 671,571 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Centene were worth $15,700,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CNC. Baird Financial Group Inc. acquired a new stake in shares of Centene during the 1st quarter worth approximately $236,000. NewEdge Advisors LLC lifted its stake in Centene by 175.2% during the first quarter. NewEdge Advisors LLC now owns 42,363 shares of the company’s stock worth $2,572,000 after purchasing an additional 26,972 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Centene in the 1st quarter valued at $280,000. Caxton Associates LLP bought a new position in shares of Centene in the 1st quarter valued at $365,000. Finally, Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Centene by 4.6% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,946 shares of the company’s stock worth $543,000 after buying an additional 395 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on CNC shares. Robert W. Baird lifted their target price on Centene from $28.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Morgan Stanley lifted their price target on shares of Centene from $28.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, October 14th. Jefferies Financial Group upped their price objective on shares of Centene from $25.00 to $32.00 in a research report on Monday, November 3rd. Oppenheimer restated an “outperform” rating and issued a $45.00 target price on shares of Centene in a research report on Thursday, October 30th. Finally, Wells Fargo & Company set a $43.00 price target on shares of Centene and gave the stock an “equal weight” rating in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $39.94.

Centene Price Performance

CNC stock opened at $46.87 on Friday. The company has a market capitalization of $23.04 billion, a P/E ratio of -4.33, a PEG ratio of 1.04 and a beta of 0.48. The company has a fifty day moving average price of $38.94 and a 200-day moving average price of $35.13. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.08 and a current ratio of 1.08. Centene Corporation has a 52-week low of $25.08 and a 52-week high of $66.81.

Centene (NYSE:CNC) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.71. The company had revenue of $49.69 billion for the quarter, compared to analysts’ expectations of $47.50 billion. Centene had a negative net margin of 2.85% and a positive return on equity of 7.82%. Centene’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.62 earnings per share. As a group, equities analysts expect that Centene Corporation will post 6.86 EPS for the current year.

Centene Profile

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.