Summit Global Investments Has $332,000 Stock Holdings in Centene Co. (NYSE:CNC)

Summit Global Investments trimmed its position in Centene Co. (NYSE:CNC) by 54.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,486 shares of the company’s stock after selling 6,659 shares during the quarter. Summit Global Investments’ holdings in Centene were worth $332,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CNC. Assenagon Asset Management S.A. lifted its holdings in Centene by 693.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,705,936 shares of the company’s stock valued at $103,346,000 after buying an additional 1,490,935 shares during the period. Harris Associates L P lifted its stake in shares of Centene by 5.7% in the 3rd quarter. Harris Associates L P now owns 26,314,183 shares of the company’s stock valued at $1,980,932,000 after purchasing an additional 1,420,825 shares during the period. Amundi boosted its position in shares of Centene by 77.2% in the 4th quarter. Amundi now owns 2,786,770 shares of the company’s stock worth $176,040,000 after purchasing an additional 1,214,425 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Centene in the fourth quarter valued at about $53,736,000. Finally, Intech Investment Management LLC lifted its stake in Centene by 4,390.8% in the fourth quarter. Intech Investment Management LLC now owns 687,814 shares of the company’s stock valued at $41,668,000 after buying an additional 672,498 shares during the period. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Trading Up 0.8 %

Centene stock opened at $59.38 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.11 and a quick ratio of 1.10. The firm has a 50-day moving average of $60.18 and a 200-day moving average of $62.98. The company has a market cap of $29.45 billion, a price-to-earnings ratio of 9.52, a P/E/G ratio of 0.80 and a beta of 0.40. Centene Co. has a one year low of $55.03 and a one year high of $80.59.

Centene (NYSE:CNC) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.31. Centene had a return on equity of 13.85% and a net margin of 2.03%. The firm had revenue of $40.81 billion during the quarter, compared to the consensus estimate of $38.78 billion. During the same period last year, the company earned $0.45 earnings per share. The business’s revenue was up 3.4% compared to the same quarter last year. On average, equities analysts expect that Centene Co. will post 6.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Truist Financial lowered their price target on Centene from $89.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Argus cut shares of Centene from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. StockNews.com downgraded Centene from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Jefferies Financial Group cut Centene from a “hold” rating to an “underperform” rating and decreased their target price for the company from $68.00 to $52.00 in a research note on Tuesday, December 10th. Finally, Robert W. Baird lifted their price objective on Centene from $66.00 to $71.00 in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $79.92.

About Centene

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.