Sumitomo Mitsui Asset Management Company LTD Sells 598 Shares of Centene Corp (NYSE:CNC)

Sumitomo Mitsui Asset Management Company LTD trimmed its position in shares of Centene Corp (NYSE:CNC) by 4.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,398 shares of the company’s stock after selling 598 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Centene were worth $1,544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Neville Rodie & Shaw Inc. boosted its stake in shares of Centene by 5.3% during the 4th quarter. Neville Rodie & Shaw Inc. now owns 2,000 shares of the company’s stock worth $231,000 after acquiring an additional 100 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management grew its holdings in Centene by 1.5% during the fourth quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 6,600 shares of the company’s stock valued at $761,000 after purchasing an additional 100 shares during the period. Tributary Capital Management LLC increased its position in Centene by 0.7% during the 4th quarter. Tributary Capital Management LLC now owns 15,200 shares of the company’s stock valued at $1,753,000 after purchasing an additional 100 shares during the period. Kepos Capital LP lifted its stake in Centene by 0.3% during the 3rd quarter. Kepos Capital LP now owns 50,231 shares of the company’s stock valued at $7,272,000 after acquiring an additional 136 shares in the last quarter. Finally, CENTRAL TRUST Co increased its holdings in Centene by 5.9% in the 4th quarter. CENTRAL TRUST Co now owns 3,838 shares of the company’s stock worth $443,000 after acquiring an additional 215 shares during the last quarter. 93.34% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CFO Jeffrey A. Schwaneke sold 4,000 shares of the company’s stock in a transaction dated Tuesday, January 15th. The shares were sold at an average price of $125.00, for a total value of $500,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mark J. Brooks sold 2,540 shares of the company’s stock in a transaction that occurred on Tuesday, December 18th. The shares were sold at an average price of $121.26, for a total transaction of $308,000.40. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by corporate insiders.

A number of equities research analysts have recently commented on CNC shares. Zacks Investment Research upgraded Centene from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research report on Monday, December 31st. Cantor Fitzgerald reissued a “buy” rating and issued a $72.50 price target on shares of Centene in a research report on Thursday, December 13th. Goldman Sachs Group lowered Centene from a “conviction-buy” rating to a “buy” rating in a report on Monday, December 17th. Stephens began coverage on Centene in a research report on Monday, January 14th. They issued an “overweight” rating and a $73.50 price objective on the stock. Finally, ValuEngine downgraded shares of Centene from a “buy” rating to a “hold” rating in a research report on Monday, December 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have given a buy rating to the stock. Centene presently has an average rating of “Buy” and a consensus target price of $77.65.

CNC stock opened at $63.69 on Thursday. The stock has a market capitalization of $25.90 billion, a price-to-earnings ratio of 17.99, a P/E/G ratio of 1.11 and a beta of 1.32. Centene Corp has a 1 year low of $48.81 and a 1 year high of $74.49. The company has a current ratio of 1.00, a quick ratio of 1.03 and a debt-to-equity ratio of 0.60.

Centene (NYSE:CNC) last released its quarterly earnings results on Tuesday, February 5th. The company reported $1.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.05. The business had revenue of $16.56 billion for the quarter, compared to analysts’ expectations of $16.38 billion. Centene had a net margin of 1.50% and a return on equity of 14.10%. Centene’s revenue was up 29.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 earnings per share. Equities analysts forecast that Centene Corp will post 4.23 EPS for the current fiscal year.

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Centene Profile

Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. It operates through two segments, Managed Care and Specialty Services. The Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term care, foster care, and dual eligible individual, as well as aged, blind, or disabled programs.

Further Reading: Market Capitalization, Large-Caps, Mid-Caps, Small-Caps

Institutional Ownership by Quarter for Centene (NYSE:CNC)

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