Vicus Capital Trims Stake in Centene Co. (NYSE:CNC)

Vicus Capital cut its holdings in Centene Co. (NYSE:CNC) by 15.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,939 shares of the company’s stock after selling 550 shares during the quarter. Vicus Capital’s holdings in Centene were worth $218,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Operose Advisors LLC purchased a new stake in shares of Centene in the third quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Centene in the fourth quarter valued at approximately $25,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of Centene in the fourth quarter valued at approximately $25,000. OFI Invest Asset Management acquired a new stake in shares of Centene in the third quarter worth approximately $26,000. Finally, Riggs Asset Managment Co. Inc. acquired a new stake in shares of Centene in the fourth quarter worth approximately $32,000. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Centene

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

Centene Price Performance

NYSE:CNC opened at $75.15 on Monday. Centene Co. has a 52 week low of $60.83 and a 52 week high of $81.42. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $40.20 billion, a P/E ratio of 15.31, a P/E/G ratio of 0.93 and a beta of 0.38. The stock’s fifty day moving average is $76.56 and its two-hundred day moving average is $74.65.

Centene (NYSE:CNC) last posted its earnings results on Tuesday, February 6th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The company had revenue of $39.46 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.86 earnings per share. Equities analysts expect that Centene Co. will post 6.75 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CNC shares. Wells Fargo & Company lifted their price target on Centene from $89.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 price target on shares of Centene in a research note on Thursday, April 4th. StockNews.com lowered Centene from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 28th. Barclays initiated coverage on Centene in a research note on Wednesday, March 6th. They set an “overweight” rating and a $101.00 price objective on the stock. Finally, Stephens reissued an “equal weight” rating and set a $85.00 price objective (down previously from $92.00) on shares of Centene in a research note on Thursday, March 21st. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Centene currently has an average rating of “Moderate Buy” and a consensus price target of $85.38.

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.