RFG Advisory LLC Cuts Stake in Centene Co. (NYSE:CNC)

RFG Advisory LLC decreased its stake in Centene Co. (NYSE:CNC) by 38.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,054 shares of the company’s stock after selling 9,219 shares during the period. RFG Advisory LLC’s holdings in Centene were worth $1,117,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Signaturefd LLC raised its stake in shares of Centene by 1.5% during the third quarter. Signaturefd LLC now owns 10,456 shares of the company’s stock valued at $720,000 after purchasing an additional 158 shares during the period. First Bank & Trust grew its holdings in Centene by 4.1% during the 4th quarter. First Bank & Trust now owns 4,154 shares of the company’s stock valued at $308,000 after purchasing an additional 162 shares in the last quarter. Blue Trust Inc. lifted its holdings in Centene by 7.2% in the 4th quarter. Blue Trust Inc. now owns 2,454 shares of the company’s stock worth $169,000 after buying an additional 164 shares in the last quarter. Covestor Ltd boosted its position in Centene by 24.1% in the 1st quarter. Covestor Ltd now owns 856 shares of the company’s stock valued at $72,000 after buying an additional 166 shares during the last quarter. Finally, Vicus Capital grew its stake in shares of Centene by 5.3% during the fourth quarter. Vicus Capital now owns 3,309 shares of the company’s stock valued at $271,000 after acquiring an additional 168 shares in the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Performance

Shares of NYSE CNC opened at $72.25 on Thursday. Centene Co. has a 12-month low of $60.83 and a 12-month high of $81.42. 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 $38.65 billion, a PE ratio of 14.71, a P/E/G ratio of 0.91 and a beta of 0.38. The stock has a 50 day simple moving average of $76.96 and a 200-day simple moving average of $74.45.

Centene (NYSE:CNC) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. The company had revenue of $39.46 billion during the quarter, compared to analysts’ expectations of $36.16 billion. Centene had a return on equity of 14.26% and a net margin of 1.75%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.86 earnings per share. On average, equities research analysts forecast that Centene Co. will post 6.75 EPS for the current year.

Insiders Place Their Bets

In other news, Director Lori Jean Robinson sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $77.41, for a total value of $774,100.00. Following the completion of the transaction, the director now directly owns 11,455 shares in the company, valued at $886,731.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Lori Jean Robinson sold 10,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 11,455 shares in the company, valued at $886,731.55. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Kenneth J. Fasola sold 12,000 shares of Centene stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $75.07, for a total value of $900,840.00. Following the transaction, the president now directly owns 235,365 shares in the company, valued at $17,668,850.55. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Stephens reissued an “equal weight” rating and issued a $85.00 price target (down previously from $92.00) on shares of Centene in a report on Thursday, March 21st. Wells Fargo & Company decreased their price target on shares of Centene from $94.00 to $89.00 and set an “overweight” rating for the company in a research report on Monday. StockNews.com cut shares of Centene from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 28th. Barclays initiated coverage on shares of Centene in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $101.00 target price for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price target on shares of Centene in a research report on Thursday, April 4th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Centene has a consensus rating of “Moderate Buy” and a consensus price target of $85.08.

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.