Riverview Trust Co Acquires 480 Shares of Centene Co. (NYSE:CNC)

Riverview Trust Co boosted its holdings in shares of Centene Co. (NYSE:CNC) by 172.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 758 shares of the company’s stock after acquiring an additional 480 shares during the period. Riverview Trust Co’s holdings in Centene were worth $46,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Capital Advisors Ltd. LLC boosted its position in Centene by 75.3% during the fourth quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company’s stock valued at $25,000 after purchasing an additional 177 shares in the last quarter. SRS Capital Advisors Inc. boosted its position in shares of Centene by 73.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 631 shares of the company’s stock worth $38,000 after purchasing an additional 267 shares in the last quarter. Private Trust Co. NA boosted 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 acquiring an additional 332 shares in the last quarter. True Wealth Design LLC acquired a new stake in Centene in the third quarter worth about $66,000. Finally, R Squared Ltd acquired a new stake in Centene in the fourth quarter worth about $82,000. 93.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CNC has been the subject of several research reports. Robert W. Baird lifted their price objective on shares of Centene from $66.00 to $71.00 in a research note on Tuesday, February 4th. UBS Group raised Centene from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $79.00 to $80.00 in a research report on Friday, December 13th. StockNews.com cut Centene from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Argus downgraded Centene from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Barclays lifted their target price on Centene from $91.00 to $93.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. One 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $79.92.

Centene Price Performance

Centene stock opened at $58.06 on Friday. Centene Co. has a 12-month low of $55.03 and a 12-month high of $80.59. The stock has a market cap of $28.80 billion, a P/E ratio of 9.30, a PEG ratio of 0.80 and a beta of 0.45. The company has a 50-day moving average price of $60.98 and a 200 day moving average price of $65.18. 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 announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.31. The business had revenue of $40.81 billion during the quarter, compared to the consensus estimate of $38.78 billion. Centene had a net margin of 2.03% and a return on equity of 13.85%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.45 EPS. Sell-side analysts anticipate that Centene Co. will post 6.86 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Theodore R. Samuels II bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of $58.86 per share, for a total transaction of $294,300.00. Following the acquisition, the director now owns 23,000 shares of the company’s stock, valued at approximately $1,353,780. This trade represents a 27.78 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Thomas Greco acquired 17,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was purchased at an average cost of $59.75 per share, with a total value of $1,015,750.00. Following the completion of the purchase, the director now directly owns 19,309 shares of the company’s stock, valued at approximately $1,153,712.75. This represents a 736.25 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 23,693 shares of company stock valued at $1,409,954 over the last quarter. 0.33% of the stock is owned by insiders.

About Centene

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.