Dorsey & Whitney Trust CO LLC Lowers Stock Holdings in Centene Co. (NYSE:CNC)

Dorsey & Whitney Trust CO LLC lowered its position in Centene Co. (NYSE:CNC) by 23.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,633 shares of the company’s stock after selling 1,396 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Centene were worth $281,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC lifted its position in Centene by 75.3% in 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 during the period. Rialto Wealth Management LLC acquired a new stake in Centene in the fourth quarter valued at about $30,000. SRS Capital Advisors Inc. lifted its position in Centene by 73.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 631 shares of the company’s stock valued at $38,000 after purchasing an additional 267 shares during the period. Riverview Trust Co lifted its position in Centene by 172.7% in the fourth quarter. Riverview Trust Co now owns 758 shares of the company’s stock valued at $46,000 after purchasing an additional 480 shares during the period. Finally, Private Trust Co. NA lifted its position in Centene by 75.3% in the third quarter. Private Trust Co. NA now owns 773 shares of the company’s stock valued at $58,000 after purchasing an additional 332 shares during the period. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Down 1.4 %

CNC stock opened at $58.61 on Wednesday. The stock has a market capitalization of $29.07 billion, a P/E ratio of 9.39, a PEG ratio of 0.80 and a beta of 0.40. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 1.11. Centene Co. has a one year low of $55.03 and a one year high of $80.59. The company has a 50 day moving average price of $60.76 and a two-hundred day moving average price of $64.15.

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. The firm had revenue of $40.81 billion during the quarter, compared to analysts’ expectations of $38.78 billion. Centene had a net margin of 2.03% and a return on equity of 13.85%. Centene’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.45 EPS. As a group, sell-side analysts expect that Centene Co. will post 6.86 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Stephens reduced their price target on shares of Centene from $75.00 to $73.00 and set an “equal weight” rating for the company in a research report on Friday, December 13th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $75.00 price target (down from $80.00) on shares of Centene in a research report on Tuesday, December 17th. Cantor Fitzgerald reiterated 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 price target on shares of Centene from $89.00 to $84.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Finally, Robert W. Baird lifted their price target on shares of Centene from $66.00 to $71.00 in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $79.92.

Insider Activity

In related news, Director Theodore R. Samuels II acquired 5,000 shares of the stock in a transaction dated Friday, December 13th. The stock was bought at an average cost of $58.86 per share, with a total value of $294,300.00. Following the purchase, the director now directly owns 23,000 shares of the company’s stock, valued at approximately $1,353,780. This represents a 27.78 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director H James Dallas bought 1,693 shares of Centene stock in a transaction that occurred 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 acquisition, the director now directly owns 1,693 shares in the company, valued at approximately $99,903.93. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders purchased 23,693 shares of company stock valued at $1,409,954 in the last ninety days. Company insiders own 0.29% of the company’s stock.

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.