The State of Alaska Department of Revenue reduced its holdings in shares of Centene Co. (NYSE:CNC – Free Report) by 3.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 86,327 shares of the company’s stock after selling 3,420 shares during the quarter. The State of Alaska Department of Revenue’s holdings in Centene were worth $5,456,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Valeo Financial Advisors LLC bought a new stake in Centene during the first quarter worth $254,000. AE Wealth Management LLC raised its stake in shares of Centene by 11.0% in the first quarter. AE Wealth Management LLC now owns 5,068 shares of the company’s stock valued at $320,000 after buying an additional 504 shares during the period. Scharf Investments LLC raised its stake in shares of Centene by 4.1% in the first quarter. Scharf Investments LLC now owns 2,128,377 shares of the company’s stock valued at $134,542,000 after buying an additional 83,210 shares during the period. HB Wealth Management LLC raised its stake in shares of Centene by 5.7% in the first quarter. HB Wealth Management LLC now owns 15,538 shares of the company’s stock valued at $982,000 after buying an additional 832 shares during the period. Finally, Drive Wealth Management LLC raised its stake in shares of Centene by 213.3% in the first quarter. Drive Wealth Management LLC now owns 8,773 shares of the company’s stock valued at $555,000 after buying an additional 5,973 shares during the period. 90.11% of the stock is currently owned by institutional investors.
Insider Transactions at Centene
In other news, Director Lori Jean Robinson sold 1,400 shares of the business’s stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $66.59, for a total value of $93,226.00. Following the completion of the sale, the director now owns 8,508 shares of the company’s stock, valued at approximately $566,547.72. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.33% of the company’s stock.
Centene Price Performance
Centene stock opened at $67.00 on Friday. The business has a 50-day simple moving average of $66.53 and a 200-day simple moving average of $70.32. Centene Co. has a 52 week low of $61.34 and a 52 week high of $98.53. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.72. The stock has a market cap of $36.77 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 0.89 and a beta of 0.56.
Centene (NYSE:CNC – Free Report) last posted its quarterly earnings data on Tuesday, April 25th. The company reported $2.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.12). Centene had a return on equity of 13.61% and a net margin of 1.01%. The firm had revenue of $38.89 billion during the quarter, compared to analysts’ expectations of $36.09 billion. During the same quarter in the previous year, the company posted $1.83 earnings per share. Centene’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, research analysts forecast that Centene Co. will post 6.44 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several brokerages have issued reports on CNC. Truist Financial lowered their target price on Centene from $88.00 to $83.00 in a research note on Tuesday, June 20th. Deutsche Bank Aktiengesellschaft cut Centene from a “buy” rating to a “hold” rating and reduced their price target for the company from $94.00 to $79.00 in a research report on Wednesday, March 8th. Cantor Fitzgerald began coverage on Centene in a research report on Thursday, April 20th. They issued an “overweight” rating and a $80.00 price target for the company. Wells Fargo & Company reduced their price target on Centene from $79.00 to $71.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 21st. Finally, Stephens reduced their price target on Centene from $95.00 to $87.00 in a research report on Wednesday, April 26th. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.68.
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. It operates in 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 services and support, foster care, and medicare-medicaid plans, which cover dually eligible individuals, as well as aged, blind, or disabled programs.
Want to see what other hedge funds are holding CNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Centene Co. (NYSE:CNC – Free Report).
Receive News & Ratings for Centene Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Centene and related companies with MarketBeat.com’s FREE daily email newsletter.