National Pension Service Sells 484,845 Shares of Centene Co. (NYSE:CNC)

National Pension Service decreased its stake in shares of Centene Co. (NYSE:CNC) by 33.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 950,637 shares of the company’s stock after selling 484,845 shares during the period. National Pension Service owned approximately 0.19% of Centene worth $57,590,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Capital Advisors Ltd. LLC boosted its stake in Centene by 75.3% during the fourth quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company’s stock worth $25,000 after acquiring an additional 177 shares in the last quarter. Private Trust Co. NA raised its holdings in Centene by 75.3% in the third quarter. Private Trust Co. NA now owns 773 shares of the company’s stock worth $58,000 after buying an additional 332 shares during the last quarter. True Wealth Design LLC purchased a new position in Centene in the third quarter worth about $66,000. R Squared Ltd purchased a new position in Centene in the fourth quarter worth about $82,000. Finally, Venturi Wealth Management LLC raised its holdings in Centene by 77.3% in the third quarter. Venturi Wealth Management LLC now owns 1,163 shares of the company’s stock worth $88,000 after buying an additional 507 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.

Insider Transactions at Centene

In other Centene news, Director H James Dallas bought 1,693 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was acquired at an average cost of $59.01 per share, with a total value of $99,903.93. Following the purchase, the director now owns 1,693 shares in the company, valued at approximately $99,903.93. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Theodore R. Samuels II bought 5,000 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of $58.86 per share, with a total value of $294,300.00. Following the completion of the purchase, the director now owns 23,000 shares in the company, valued at approximately $1,353,780. This represents a 27.78 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 23,693 shares of company stock valued at $1,409,954. 0.33% of the stock is currently owned by corporate insiders.

Centene Price Performance

NYSE:CNC opened at $58.18 on Friday. Centene Co. has a 52 week low of $55.03 and a 52 week high of $80.59. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $28.86 billion, a P/E ratio of 9.32, a P/E/G ratio of 0.80 and a beta of 0.45. The stock’s fifty day moving average is $61.01 and its two-hundred day moving average is $65.38.

Centene (NYSE:CNC) last released its earnings results on Tuesday, February 4th. The company reported $0.80 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $38.78 billion. During the same period in the previous year, the firm posted $0.45 EPS. Centene’s revenue for the quarter was up 3.4% on a year-over-year basis. Equities analysts expect that Centene Co. will post 6.86 EPS for the current year.

Wall Street Analysts Forecast Growth

CNC has been the topic of several research reports. StockNews.com cut shares of Centene from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Wells Fargo & Company dropped their price target on Centene from $76.00 to $72.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $75.00 target price (down previously from $80.00) on shares of Centene in a report on Tuesday, December 17th. Barclays boosted their price target on Centene from $91.00 to $93.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, Truist Financial cut 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $79.92.

Centene 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.