KBC Group NV Has $92.80 Million Stake in Centene Corporation $CNC

KBC Group NV reduced its position in shares of Centene Corporation (NYSE:CNC) by 26.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,709,625 shares of the company’s stock after selling 608,113 shares during the period. KBC Group NV owned about 0.35% of Centene worth $92,798,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Polianta Ltd acquired a new position in shares of Centene during the 2nd quarter valued at $1,253,000. Oliver Luxxe Assets LLC acquired a new position in shares of Centene during the second quarter valued at about $4,033,000. Focus Partners Wealth grew its stake in shares of Centene by 83.1% in the 1st quarter. Focus Partners Wealth now owns 42,270 shares of the company’s stock valued at $2,566,000 after buying an additional 19,181 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Centene by 3.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,810,489 shares of the company’s stock valued at $292,045,000 after buying an additional 143,573 shares in the last quarter. Finally, Focused Investors LLC raised its stake in Centene by 19.9% during the 2nd quarter. Focused Investors LLC now owns 1,250,000 shares of the company’s stock worth $67,850,000 after buying an additional 207,600 shares during the period. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CNC. Barclays set a $44.00 target price on Centene and gave the company an “equal weight” rating in a research report on Tuesday, November 4th. UBS Group set a $42.00 price objective on Centene and gave the company a “neutral” rating in a research note on Thursday, October 30th. Deutsche Bank Aktiengesellschaft boosted their target price on Centene from $24.00 to $32.00 in a research note on Friday, October 31st. TD Cowen lifted their price objective on Centene from $30.00 to $34.00 and gave the stock a “hold” rating in a report on Friday, October 31st. Finally, Cantor Fitzgerald increased their target price on shares of Centene from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Three investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $39.82.

Centene Price Performance

CNC opened at $35.40 on Wednesday. The stock has a market capitalization of $17.40 billion, a P/E ratio of -3.27, a PEG ratio of 1.24 and a beta of 0.49. The stock has a 50-day moving average price of $34.55 and a 200-day moving average price of $40.25. Centene Corporation has a 12-month low of $25.08 and a 12-month high of $66.81. The company has a current ratio of 1.08, a quick ratio of 1.10 and a debt-to-equity ratio of 0.83.

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

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.