Teacher Retirement System of Texas Has $2.33 Million Position in Centene Corporation $CNC

Teacher Retirement System of Texas cut its position in Centene Corporation (NYSE:CNC) by 89.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 65,195 shares of the company’s stock after selling 552,972 shares during the period. Teacher Retirement System of Texas’ holdings in Centene were worth $2,326,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Packer & Co Ltd acquired a new stake in shares of Centene in the 3rd quarter valued at about $50,487,000. Amundi grew its holdings in shares of Centene by 6.2% during the second quarter. Amundi now owns 3,384,752 shares of the company’s stock worth $183,724,000 after buying an additional 199,016 shares in the last quarter. Focused Investors LLC lifted its stake in Centene by 19.9% in the 2nd quarter. Focused Investors LLC now owns 1,250,000 shares of the company’s stock valued at $67,850,000 after acquiring an additional 207,600 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in Centene by 53.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,814,059 shares of the company’s stock worth $98,467,000 after acquiring an additional 635,153 shares during the last quarter. Finally, QV Investors Inc. grew its stake in shares of Centene by 21.8% during the 3rd quarter. QV Investors Inc. now owns 361,722 shares of the company’s stock worth $12,906,000 after acquiring an additional 64,680 shares in the last quarter. Institutional investors own 93.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Robert W. Baird increased their target price on shares of Centene from $28.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Wells Fargo & Company set a $43.00 price objective on shares of Centene and gave the stock an “equal weight” rating in a research note on Wednesday, January 7th. Deutsche Bank Aktiengesellschaft lifted their target price on Centene from $24.00 to $32.00 in a research report on Friday, October 31st. Truist Financial increased their price target on Centene from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Monday, January 5th. Finally, Barclays set a $44.00 price target on Centene and gave the stock an “equal weight” rating in a research report on Tuesday, November 4th. Three analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Centene has a consensus rating of “Hold” and a consensus price target of $40.81.

Centene Stock Performance

Shares of NYSE CNC opened at $43.50 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $21.38 billion, a P/E ratio of -4.02, a P/E/G ratio of 0.97 and a beta of 0.48. Centene Corporation has a 12 month low of $25.08 and a 12 month high of $66.81. The stock has a 50 day moving average of $41.72 and a 200-day moving average of $35.39.

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

About Centene

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.