Deutsche Bank AG Decreases Stake in Centene Co. (NYSE:CNC)

Deutsche Bank AG decreased its position in Centene Co. (NYSE:CNC) by 34.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,246,595 shares of the company’s stock after selling 1,680,257 shares during the quarter. Deutsche Bank AG owned 0.64% of Centene worth $196,679,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CNC. Barclays reduced their price objective on shares of Centene from $93.00 to $84.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Guggenheim reiterated a “neutral” rating on shares of Centene in a research report on Tuesday, April 29th. Argus cut Centene from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Wells Fargo & Company cut their price target on Centene from $76.00 to $72.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Finally, StockNews.com lowered shares of Centene from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 28th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Centene has an average rating of “Moderate Buy” and an average price target of $79.77.

Centene Stock Up 0.6 %

CNC opened at $62.82 on Friday. The business has a 50 day simple moving average of $60.53 and a 200-day simple moving average of $60.50. Centene Co. has a 12 month low of $55.03 and a 12 month high of $80.59. The stock has a market capitalization of $31.26 billion, a P/E ratio of 10.07, a P/E/G ratio of 0.80 and a beta of 0.48. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.11 and a quick ratio of 1.10.

Centene (NYSE:CNC) last posted its quarterly 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 business had revenue of $46.62 billion for the quarter, compared to analysts’ expectations of $43.16 billion. Centene had a net margin of 2.03% and a return on equity of 13.85%. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.26 EPS. On average, equities analysts anticipate that Centene Co. will post 6.86 earnings per share for the current fiscal year.

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.