New York State Teachers Retirement System Has $35.51 Million Holdings in Centene Co. (NYSE:CNC)

New York State Teachers Retirement System cut its position in shares of Centene Co. (NYSE:CNC) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 535,599 shares of the company’s stock after selling 11,103 shares during the period. New York State Teachers Retirement System’s holdings in Centene were worth $35,510,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pinebridge Investments L.P. lifted its holdings in shares of Centene by 52.4% during the fourth quarter. Pinebridge Investments L.P. now owns 327,442 shares of the company’s stock valued at $24,298,000 after acquiring an additional 112,605 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Centene by 18.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 624,944 shares of the company’s stock valued at $49,046,000 after purchasing an additional 98,298 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in Centene by 435.0% during the 1st quarter. GSA Capital Partners LLP now owns 20,052 shares of the company’s stock worth $1,574,000 after buying an additional 16,304 shares in the last quarter. Diversified Trust Co boosted its position in Centene by 35.8% in the 2nd quarter. Diversified Trust Co now owns 28,009 shares of the company’s stock valued at $1,857,000 after buying an additional 7,385 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Centene by 5.8% during the fourth quarter. Wells Fargo & Company MN now owns 947,577 shares of the company’s stock worth $70,320,000 after acquiring an additional 51,878 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.

Centene Stock Performance

Shares of Centene stock opened at $78.55 on Friday. The firm has a market cap of $41.92 billion, a price-to-earnings ratio of 15.62, a price-to-earnings-growth ratio of 1.00 and a beta of 0.50. Centene Co. has a one year low of $60.83 and a one year high of $81.42. The stock’s 50-day moving average is $71.02 and its 200-day moving average is $73.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.17 and a quick ratio of 1.17.

Centene (NYSE:CNC) last posted its quarterly earnings data on Friday, July 26th. The company reported $2.42 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). The business had revenue of $39.84 billion for the quarter, compared to analyst estimates of $36.83 billion. Centene had a return on equity of 14.45% and a net margin of 1.79%. The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.10 earnings per share. Equities analysts predict that Centene Co. will post 6.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CNC has been the subject of a number of research reports. StockNews.com upgraded Centene from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Barclays boosted their price target on shares of Centene from $90.00 to $98.00 and gave the stock an “overweight” rating in a research note on Thursday. Truist Financial lowered their target price on shares of Centene from $92.00 to $89.00 and set a “buy” rating for the company in a report on Monday, July 15th. Oppenheimer cut their price target on Centene from $110.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. Finally, Jefferies Financial Group downgraded Centene from a “buy” rating to a “hold” rating and dropped their price objective for the company from $83.00 to $69.00 in a report on Wednesday, July 24th. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.93.

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.