Intrust Bank NA Cuts Stock Position in Centene Co. (NYSE:CNC)

Intrust Bank NA decreased its position in Centene Co. (NYSE:CNC) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,989 shares of the company’s stock after selling 162 shares during the period. Intrust Bank NA’s holdings in Centene were worth $1,187,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sandy Spring Bank lifted its position in Centene by 10.1% during the fourth quarter. Sandy Spring Bank now owns 1,629 shares of the company’s stock valued at $121,000 after purchasing an additional 150 shares during the period. Signaturefd LLC increased its position in 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 acquiring an additional 158 shares during the last quarter. First Bank & Trust lifted its holdings in Centene by 4.1% in the fourth quarter. First Bank & Trust now owns 4,154 shares of the company’s stock valued at $308,000 after acquiring an additional 162 shares during the period. Blue Trust Inc. grew its stake in shares of Centene by 7.2% during the 4th quarter. Blue Trust Inc. now owns 2,454 shares of the company’s stock valued at $169,000 after purchasing an additional 164 shares during the period. Finally, Cornercap Investment Counsel Inc. lifted its stake in shares of Centene by 0.5% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 32,396 shares of the company’s stock worth $2,404,000 after purchasing an additional 174 shares during the period. Institutional investors own 93.63% of the company’s stock.

Insider Buying and Selling

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

Centene Trading Down 1.0 %

CNC traded down $0.77 during trading hours on Tuesday, reaching $73.06. 460,812 shares of the company’s stock traded hands, compared to its average volume of 3,086,983. The company has a quick ratio of 1.11, a current ratio of 1.17 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average price of $76.22 and a 200 day moving average price of $74.85. Centene Co. has a 52-week low of $60.83 and a 52-week high of $81.42. The firm has a market capitalization of $39.08 billion, a PE ratio of 14.68, a PEG ratio of 0.92 and a beta of 0.38.

Centene (NYSE:CNC) last released its quarterly earnings data on Friday, April 26th. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.09 by $0.17. Centene had a return on equity of 14.19% and a net margin of 1.76%. The company had revenue of $40.41 billion for the quarter, compared to the consensus estimate of $36.43 billion. During the same period last year, the business posted $2.11 EPS. Centene’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, sell-side analysts predict that Centene Co. will post 6.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wells Fargo & Company raised their target price on Centene from $89.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Oppenheimer reissued an “outperform” rating and issued a $110.00 target price on shares of Centene in a report on Monday. Stephens reiterated an “equal weight” rating and issued a $85.00 price target (down from $92.00) on shares of Centene in a research report on Thursday, March 21st. Barclays started coverage on shares of Centene in a report on Wednesday, March 6th. They issued an “overweight” rating and a $101.00 target price for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 price objective on shares of Centene in a research report on Thursday, April 4th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $85.25.

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.