QV Investors Inc. Sells 42,900 Shares of Centene Co. (NYSE:CNC)

QV Investors Inc. lessened its holdings in shares of Centene Co. (NYSE:CNC) by 14.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 258,057 shares of the company’s stock after selling 42,900 shares during the period. Centene comprises approximately 1.7% of QV Investors Inc.’s investment portfolio, making the stock its 23rd biggest position. QV Investors Inc.’s holdings in Centene were worth $19,427,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rise Advisors LLC purchased a new position in shares of Centene during the first quarter worth approximately $25,000. Park Place Capital Corp lifted its holdings in shares of Centene by 1,190.0% in the 3rd quarter. Park Place Capital Corp now owns 387 shares of the company’s stock worth $29,000 after buying an additional 357 shares during the period. WR Wealth Planners LLC grew its position in shares of Centene by 41.4% during the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock worth $31,000 after buying an additional 137 shares in the last quarter. Chris Bulman Inc purchased a new position in shares of Centene during the second quarter valued at $33,000. Finally, Riverview Trust Co lifted its stake in Centene by 154.6% in the second quarter. Riverview Trust Co now owns 527 shares of the company’s stock worth $35,000 after acquiring an additional 320 shares during the period. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Centene Stock Down 6.1 %

Shares of NYSE CNC opened at $68.48 on Wednesday. Centene Co. has a 1 year low of $63.45 and a 1 year high of $81.42. The company has a market capitalization of $36.54 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 0.98 and a beta of 0.48. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.17 and a quick ratio of 1.17. The business has a 50-day moving average of $75.08 and a two-hundred day moving average of $72.90.

Centene (NYSE:CNC) last announced its quarterly earnings results on Friday, July 26th. The company reported $2.42 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). The company had revenue of $39.84 billion during the quarter, compared to analysts’ expectations of $36.83 billion. Centene had a net margin of 1.79% and a return on equity of 14.45%. Centene’s revenue was up 5.9% on a year-over-year basis. During the same period last year, the firm earned $2.10 earnings per share. On average, analysts forecast that Centene Co. will post 6.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CNC. Jefferies Financial Group downgraded shares of 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 research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upped their price objective on Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Oppenheimer cut their target price on Centene from $110.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. Stephens restated an “equal weight” rating and issued a $78.00 price target on shares of Centene in a report on Monday, August 5th. Finally, Barclays decreased their target price on shares of Centene from $98.00 to $97.00 and set an “overweight” rating for the company in a research report on Thursday, September 5th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Centene has an average rating of “Moderate Buy” and an average target price of $85.58.

Centene Company 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.