Centene Co. (NYSE:CNC) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado reduced its stake in shares of Centene Co. (NYSE:CNCFree Report) by 34.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 82,377 shares of the company’s stock after selling 43,776 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Centene were worth $6,113,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Hohimer Wealth Management LLC increased its holdings in Centene by 1.1% in the fourth quarter. Hohimer Wealth Management LLC now owns 12,020 shares of the company’s stock valued at $892,000 after buying an additional 131 shares in the last quarter. Sandy Spring Bank increased its stake in Centene by 10.1% in the 4th quarter. Sandy Spring Bank now owns 1,629 shares of the company’s stock valued at $121,000 after purchasing an additional 150 shares in the last quarter. First Bank & Trust boosted its position in Centene by 4.1% during the fourth quarter. First Bank & Trust now owns 4,154 shares of the company’s stock worth $308,000 after purchasing an additional 162 shares in the last quarter. Blue Trust Inc. grew its holdings in Centene by 7.2% in the fourth quarter. Blue Trust Inc. now owns 2,454 shares of the company’s stock valued at $169,000 after purchasing an additional 164 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. boosted its position in shares of Centene by 0.5% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 32,396 shares of the company’s stock worth $2,404,000 after buying an additional 174 shares in the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene Stock Performance

NYSE CNC opened at $69.81 on Friday. The business’s 50-day simple moving average is $74.11 and its 200-day simple moving average is $75.51. The firm has a market capitalization of $37.25 billion, a P/E ratio of 13.88, a P/E/G ratio of 0.91 and a beta of 0.47. Centene Co. has a 1-year low of $60.83 and a 1-year high of $81.42. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.17 and a quick ratio of 1.17.

Centene (NYSE:CNCGet Free Report) last released its quarterly earnings data on Friday, April 26th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.17. The company had revenue of $40.41 billion during the quarter, compared to analyst estimates of $36.43 billion. Centene had a net margin of 1.76% and a return on equity of 14.19%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.11 earnings per share. Equities analysts predict that Centene Co. will post 6.82 EPS for the current year.

Insider Buying and Selling at Centene

In other news, President Kenneth J. Fasola sold 8,000 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $77.62, for a total value of $620,960.00. Following the completion of the sale, the president now owns 300,357 shares in the company, valued at $23,313,710.34. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Centene news, Director Christopher J. Coughlin sold 878 shares of Centene stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $76.75, for a total transaction of $67,386.50. Following the sale, the director now directly owns 25,504 shares in the company, valued at approximately $1,957,432. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Kenneth J. Fasola sold 8,000 shares of Centene stock in a transaction on Monday, May 13th. The stock was sold at an average price of $77.62, for a total transaction of $620,960.00. Following the completion of the sale, the president now owns 300,357 shares of the company’s stock, valued at approximately $23,313,710.34. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on CNC. StockNews.com cut shares of Centene from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 3rd. Barclays raised their price target on Centene from $101.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Oppenheimer reiterated an “outperform” rating and set a $110.00 price objective on shares of Centene in a research report on Monday, April 29th. Stephens restated an “equal weight” rating and issued a $83.00 target price on shares of Centene in a report on Thursday, May 30th. Finally, Baird R W raised shares of Centene to a “hold” rating in a research report on Thursday, May 30th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $84.93.

Check Out Our Latest Research Report on CNC

About Centene

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Centene (NYSE:CNC)

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