Centene Co. (NYSE:CNC) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its stake in Centene Co. (NYSE:CNCFree Report) by 6.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 79,498 shares of the company’s stock after buying an additional 4,618 shares during the period. PNC Financial Services Group Inc.’s holdings in Centene were worth $5,900,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Operose Advisors LLC purchased a new stake in Centene during the 3rd quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Centene during the fourth quarter worth $25,000. Riggs Asset Managment Co. Inc. acquired a new stake in shares of Centene in the fourth quarter valued at $32,000. Headinvest LLC purchased a new position in Centene in the third quarter valued at $35,000. Finally, Provence Wealth Management Group purchased a new stake in Centene during the 3rd quarter worth about $44,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CNC shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Centene from $81.00 to $82.00 and gave the company a “hold” rating in a research note on Tuesday, April 30th. Oppenheimer reissued an “outperform” rating and issued a $110.00 price objective on shares of Centene in a research report on Monday, April 29th. StockNews.com upgraded shares of Centene from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 price target on shares of Centene in a research note on Thursday, April 4th. Finally, Barclays upped their price objective on Centene from $101.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $85.23.

View Our Latest Analysis on CNC

Centene Price Performance

Centene stock opened at $77.33 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a market capitalization of $41.27 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.01 and a beta of 0.41. The business has a 50 day simple moving average of $75.48 and a 200-day simple moving average of $75.58. Centene Co. has a 12 month low of $60.83 and a 12 month high of $81.42.

Centene (NYSE:CNCGet Free Report) last issued its earnings results on Friday, April 26th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.17. The business had revenue of $40.41 billion for the quarter, compared to the consensus estimate of $36.43 billion. Centene had a net margin of 1.76% and a return on equity of 14.19%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.11 earnings per share. Equities analysts predict that Centene Co. will post 6.82 earnings per share for the current year.

Insiders Place Their Bets

In related news, President Kenneth J. Fasola sold 8,000 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $77.62, for a total transaction of $620,960.00. Following the sale, the president now owns 300,357 shares of the company’s stock, valued at $23,313,710.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.33% of the stock is currently owned by company insiders.

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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