Centene Co. (NYSE:CNC) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems decreased its holdings in Centene Co. (NYSE:CNC) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 36,148 shares of the company’s stock after selling 498 shares during the quarter. Kentucky Retirement Systems’ holdings in Centene were worth $2,190,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Private Trust Co. NA grew its position 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 acquired a new position in Centene in the third quarter worth approximately $66,000. R Squared Ltd acquired a new position in Centene in the fourth quarter worth approximately $82,000. Venturi Wealth Management LLC grew its position 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. Finally, Cromwell Holdings LLC grew its position in Centene by 588.0% in the third quarter. Cromwell Holdings LLC now owns 1,266 shares of the company’s stock worth $95,000 after buying an additional 1,082 shares during the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Insider Activity at Centene

In other news, Director H James Dallas bought 1,693 shares of the business’s stock in a transaction on Monday, December 16th. The stock was purchased at an average price of $59.01 per share, with a total value of $99,903.93. Following the transaction, the director now directly owns 1,693 shares in the company, valued at approximately $99,903.93. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thomas Greco acquired 17,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were bought at an average price of $59.75 per share, for a total transaction of $1,015,750.00. Following the acquisition, the director now owns 19,309 shares in the company, valued at approximately $1,153,712.75. This trade represents a 736.25 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 23,693 shares of company stock valued at $1,409,954. Insiders own 0.33% of the company’s stock.

Centene Trading Down 1.3 %

Shares of NYSE:CNC opened at $57.72 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.70. Centene Co. has a 12-month low of $55.03 and a 12-month high of $81.42. The firm has a fifty day moving average of $61.03 and a two-hundred day moving average of $65.84. The firm has a market capitalization of $28.63 billion, a P/E ratio of 9.25, a price-to-earnings-growth ratio of 0.80 and a beta of 0.45.

Centene (NYSE:CNC) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.31. Centene had a net margin of 2.03% and a return on equity of 13.85%. The business had revenue of $40.81 billion during the quarter, compared to analyst estimates of $38.78 billion. During the same quarter in the previous year, the business earned $0.45 EPS. Centene’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities analysts expect that Centene Co. will post 6.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CNC. Barclays lifted their price objective on shares of Centene from $91.00 to $93.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. UBS Group upgraded shares of Centene from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $79.00 to $80.00 in a research report on Friday, December 13th. Argus cut shares of Centene from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Robert W. Baird lifted their price objective on shares of Centene from $66.00 to $71.00 in a research report on Tuesday, February 4th. Finally, StockNews.com cut shares of Centene from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Centene currently 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.