Frank Rimerman Advisors LLC Has $260,000 Position in Centene Co. (NYSE:CNC)

Frank Rimerman Advisors LLC reduced its position in shares of Centene Co. (NYSE:CNC) by 28.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,296 shares of the company’s stock after selling 1,687 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Centene were worth $260,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its position in Centene by 693.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,705,936 shares of the company’s stock valued at $103,346,000 after purchasing an additional 1,490,935 shares during the last quarter. Harris Associates L P boosted its position in Centene by 5.7% during the third quarter. Harris Associates L P now owns 26,314,183 shares of the company’s stock valued at $1,980,932,000 after purchasing an additional 1,420,825 shares during the last quarter. Amundi boosted its position in Centene by 77.2% during the fourth quarter. Amundi now owns 2,786,770 shares of the company’s stock valued at $176,040,000 after purchasing an additional 1,214,425 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Centene during the fourth quarter valued at approximately $53,736,000. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in Centene by 15.4% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 3,203,049 shares of the company’s stock valued at $241,126,000 after purchasing an additional 428,100 shares during the last quarter. 93.63% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Centene news, Director Thomas Greco purchased 17,000 shares of the firm’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 purchase, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Centene Price Performance

Centene stock opened at $59.28 on Tuesday. The stock’s fifty day moving average price is $60.53 and its two-hundred day moving average price is $63.60. Centene Co. has a one year low of $55.03 and a one year high of $80.59. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.11 and a quick ratio of 1.10. The firm has a market cap of $29.41 billion, a PE ratio of 9.50, a price-to-earnings-growth ratio of 0.80 and a beta of 0.40.

Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.31. Centene had a return on equity of 13.85% and a net margin of 2.03%. The firm had revenue of $40.81 billion for the quarter, compared to analyst estimates of $38.78 billion. During the same quarter last year, the company earned $0.45 EPS. The company’s revenue was up 3.4% on a year-over-year basis. As a group, research analysts expect that Centene Co. will post 6.86 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on CNC. Robert W. Baird increased their price target on Centene from $66.00 to $71.00 in a research report on Tuesday, February 4th. UBS Group raised Centene from a “neutral” rating to a “buy” rating and raised their price objective for the company 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. Jefferies Financial Group cut Centene from a “hold” rating to an “underperform” rating and cut their price objective for the company from $68.00 to $52.00 in a research report on Tuesday, December 10th. Finally, Oppenheimer cut their price objective on Centene from $95.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Centene has an average rating of “Moderate Buy” and an average price target of $79.92.

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.