Quinn Opportunity Partners LLC Sells 2,500 Shares of Centene Corporation $CNC

Quinn Opportunity Partners LLC decreased its position in Centene Corporation (NYSE:CNC) by 2.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 91,981 shares of the company’s stock after selling 2,500 shares during the quarter. Quinn Opportunity Partners LLC’s holdings in Centene were worth $4,993,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CNC. Mitsubishi UFJ Trust & Banking Corp increased its stake in Centene by 23.4% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 786,720 shares of the company’s stock worth $42,703,000 after purchasing an additional 149,083 shares in the last quarter. National Pension Service grew its holdings in shares of Centene by 0.7% during the 2nd quarter. National Pension Service now owns 931,519 shares of the company’s stock worth $50,563,000 after purchasing an additional 6,416 shares in the last quarter. Boston Partners lifted its holdings in shares of Centene by 0.7% in the second quarter. Boston Partners now owns 3,929,712 shares of the company’s stock worth $209,314,000 after acquiring an additional 28,109 shares during the last quarter. Vise Technologies Inc. acquired a new position in shares of Centene in the 2nd quarter worth approximately $346,000. Finally, Allworth Financial LP raised its holdings in shares of Centene by 142.9% during the second quarter. Allworth Financial LP now owns 10,656 shares of the company’s stock valued at $578,000 after purchasing an additional 6,269 shares during the period. 93.63% of the stock is owned by institutional investors.

Centene Price Performance

NYSE CNC opened at $35.40 on Wednesday. The company has a market cap of $17.40 billion, a price-to-earnings ratio of -3.27, a PEG ratio of 1.24 and a beta of 0.49. Centene Corporation has a 1 year low of $25.08 and a 1 year high of $66.81. The stock’s fifty day moving average price is $34.55 and its 200 day moving average price is $40.25. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.08 and a quick ratio of 1.10.

Centene (NYSE:CNC) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $49.69 billion for the quarter, compared to the consensus estimate of $47.50 billion. During the same period in the prior year, the firm posted $1.62 earnings per share. The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. As a group, equities research analysts forecast that Centene Corporation will post 6.86 earnings per share for the current year.

Analysts Set New Price Targets

CNC has been the topic of several research reports. Oppenheimer reaffirmed an “outperform” rating and issued a $45.00 price objective on shares of Centene in a research report on Thursday, October 30th. Jefferies Financial Group raised their target price on shares of Centene from $25.00 to $32.00 in a research report on Monday, November 3rd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Centene from $24.00 to $32.00 in a research note on Friday, October 31st. Morgan Stanley lifted their price objective on Centene from $28.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 14th. Finally, Robert W. Baird reduced their price objective on shares of Centene from $68.00 to $28.00 and set a “neutral” rating for the company in a research note on Friday, July 25th. Three investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $39.82.

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.