Centene Co. (NYSE:CNC) Stake Decreased by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its holdings in Centene Co. (NYSE:CNC) by 18.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 88,039 shares of the company’s stock after selling 20,200 shares during the quarter. State of Alaska Department of Revenue’s holdings in Centene were worth $5,333,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Czech National Bank raised its stake in shares of Centene by 5.4% during the third quarter. Czech National Bank now owns 107,157 shares of the company’s stock valued at $8,067,000 after purchasing an additional 5,463 shares in the last quarter. Dynamic Advisor Solutions LLC bought a new stake in shares of Centene during the 3rd quarter worth about $201,000. CWM LLC boosted its holdings in shares of Centene by 83.9% in the third quarter. CWM LLC now owns 47,579 shares of the company’s stock valued at $3,582,000 after acquiring an additional 21,700 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Centene by 285.9% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,959 shares of the company’s stock valued at $373,000 after acquiring an additional 3,674 shares during the period. Finally, Fiduciary Financial Group LLC raised its holdings in Centene by 12.0% during the third quarter. Fiduciary Financial Group LLC now owns 4,623 shares of the company’s stock worth $330,000 after purchasing an additional 497 shares in the last quarter. Institutional investors own 93.63% of the company’s stock.

Centene Stock Performance

Shares of Centene stock opened at $58.95 on Friday. The stock has a market cap of $29.76 billion, a PE ratio of 10.23, a price-to-earnings-growth ratio of 0.85 and a beta of 0.45. Centene Co. has a 12 month low of $55.03 and a 12 month high of $81.42. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64. The business has a fifty day simple moving average of $61.25 and a 200-day simple moving average of $67.00.

Centene (NYSE:CNC) last released its earnings results on Tuesday, February 4th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.31. The company had revenue of $40.81 billion for the quarter, compared to analysts’ expectations of $38.78 billion. Centene had a return on equity of 13.32% and a net margin of 1.90%. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.45 EPS. On average, sell-side analysts anticipate that Centene Co. will post 6.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CNC shares. Robert W. Baird lifted their price target on Centene from $66.00 to $71.00 in a research report on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price target on shares of Centene in a research report on Wednesday, December 11th. Barclays raised their price objective on shares of Centene from $91.00 to $93.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Argus downgraded shares of Centene from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Truist Financial decreased their price target on shares of Centene from $89.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Centene presently has an average rating of “Moderate Buy” and a consensus price target of $81.31.

Insiders Place Their Bets

In other news, Director Thomas Greco purchased 17,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was bought at an average cost of $59.75 per share, with a total value of $1,015,750.00. Following the purchase, the director now directly owns 19,309 shares of the company’s stock, valued at approximately $1,153,712.75. This trade represents a 736.25 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director H James Dallas purchased 1,693 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average cost of $59.01 per share, with a total value of $99,903.93. Following the purchase, the director now owns 1,693 shares in the company, valued at $99,903.93. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 40,893 shares of company stock worth $2,409,962 in the last quarter. 0.29% of the stock is currently owned by corporate insiders.

Centene Company 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.