State of Michigan Retirement System Sells 800 Shares of Centene Co. (NYSE:CNC)

State of Michigan Retirement System lowered its stake in shares of Centene Co. (NYSE:CNCFree Report) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 165,327 shares of the company’s stock after selling 800 shares during the quarter. State of Michigan Retirement System’s holdings in Centene were worth $12,269,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CNC. Operose Advisors LLC bought a new position in shares of Centene in the 3rd quarter valued at about $25,000. Coppell Advisory Solutions Corp. bought a new position in shares of Centene in the 4th quarter valued at about $25,000. ST Germain D J Co. Inc. bought a new position in shares of Centene in the 2nd quarter valued at about $26,000. OFI Invest Asset Management bought a new position in shares of Centene in the 3rd quarter valued at about $26,000. Finally, Headinvest LLC bought a new position in shares of Centene in the 3rd quarter valued at about $35,000. Institutional investors own 93.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CNC. Barclays started coverage on shares of Centene in a research note on Wednesday, March 6th. They set an “overweight” rating and a $101.00 price objective on the stock. Wells Fargo & Company lifted their price objective on shares of Centene from $90.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Cantor Fitzgerald boosted their target price on shares of Centene from $82.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, December 15th. UBS Group boosted their target price on shares of Centene from $72.00 to $79.00 and gave the company a “neutral” rating in a research report on Thursday, December 21st. Finally, StockNews.com cut shares of Centene from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 28th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.46.

Get Our Latest Stock Report on Centene

Insider Activity

In other news, President Kenneth J. Fasola sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $75.07, for a total value of $900,840.00. Following the completion of the transaction, the president now owns 235,365 shares of the company’s stock, valued at $17,668,850.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Lori Jean Robinson sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $77.41, for a total value of $774,100.00. Following the sale, the director now directly owns 11,455 shares in the company, valued at $886,731.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Kenneth J. Fasola sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $75.07, for a total value of $900,840.00. Following the completion of the sale, the president now owns 235,365 shares in the company, valued at $17,668,850.55. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by insiders.

Centene Stock Down 6.8 %

Shares of NYSE CNC opened at $72.43 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.68. The company has a market cap of $38.74 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 0.98 and a beta of 0.38. Centene Co. has a 12 month low of $60.83 and a 12 month high of $81.42. The stock has a 50-day moving average price of $77.25 and a two-hundred day moving average price of $74.29.

Centene (NYSE:CNCGet Free Report) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.02. Centene had a return on equity of 14.26% and a net margin of 1.75%. The company had revenue of $39.46 billion during the quarter, compared to the consensus estimate of $36.16 billion. During the same quarter in the prior year, the firm posted $0.86 earnings per share. The firm’s revenue was up 11.0% compared to the same quarter last year. As a group, analysts forecast that Centene Co. will post 6.75 earnings per share for the current fiscal year.

Centene Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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