Summit Trail Advisors LLC Sells 806 Shares of Centene Co. (NYSE:CNC)

Summit Trail Advisors LLC cut its holdings in Centene Co. (NYSE:CNC) by 15.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,248 shares of the company’s stock after selling 806 shares during the quarter. Summit Trail Advisors LLC’s holdings in Centene were worth $257,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of CNC. Private Trust Co. NA increased its position in shares of Centene by 75.3% during the third quarter. Private Trust Co. NA now owns 773 shares of the company’s stock worth $58,000 after acquiring an additional 332 shares in the last quarter. True Wealth Design LLC acquired a new position in Centene in the 3rd quarter worth $66,000. Venturi Wealth Management LLC raised its stake in shares of Centene by 77.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,163 shares of the company’s stock valued at $88,000 after purchasing an additional 507 shares during the period. Cromwell Holdings LLC lifted its holdings in shares of Centene by 588.0% in the third quarter. Cromwell Holdings LLC now owns 1,266 shares of the company’s stock valued at $95,000 after purchasing an additional 1,082 shares in the last quarter. Finally, R Squared Ltd bought a new position in shares of Centene during the fourth quarter worth about $82,000. 93.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CNC has been the topic of several research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price target on shares of Centene in a research report on Wednesday, December 11th. Truist Financial reduced their target price on shares of Centene from $89.00 to $84.00 and set a “buy” rating for the company in a report on Friday, December 13th. UBS Group upgraded shares of Centene from a “neutral” rating to a “buy” rating and lifted their price target for the company from $79.00 to $80.00 in a research note on Friday, December 13th. Sanford C. Bernstein reduced their price objective on shares of Centene from $96.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Finally, Oppenheimer dropped their target price on Centene from $95.00 to $85.00 and set an “outperform” rating on the stock in a report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $81.31.

Insiders Place Their Bets

In other Centene news, Director Theodore R. Samuels II acquired 5,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was acquired at an average price of $58.86 per share, for a total transaction of $294,300.00. Following the purchase, the director now directly owns 23,000 shares of the company’s stock, valued at $1,353,780. This trade represents a 27.78 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director H James Dallas bought 1,693 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were acquired at an average price of $59.01 per share, for a total transaction of $99,903.93. Following the transaction, the director now owns 1,693 shares in the company, valued at approximately $99,903.93. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 23,693 shares of company stock worth $1,409,954 over the last three months. Insiders own 0.33% of the company’s stock.

Centene Stock Down 1.6 %

CNC stock opened at $56.45 on Thursday. The business’s 50 day simple moving average is $61.17 and its 200 day simple moving average is $66.80. Centene Co. has a 1-year low of $55.03 and a 1-year high of $81.42. The firm has a market capitalization of $28.50 billion, a PE ratio of 9.05, a PEG ratio of 0.79 and a beta of 0.45. The company has a current ratio of 1.11, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70.

Centene (NYSE:CNC) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.31. The company had revenue of $40.81 billion for the quarter, compared to analyst estimates of $38.78 billion. Centene had a net margin of 2.03% and a return on equity of 13.85%. The company’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.45 earnings per share. As a group, research analysts anticipate that Centene Co. will post 6.97 EPS for the current year.

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.