Public Employees Retirement Association of Colorado Sells 43,776 Shares of Centene Co. (NYSE:CNC)

Public Employees Retirement Association of Colorado reduced its position in Centene Co. (NYSE:CNCFree Report) by 34.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 82,377 shares of the company’s stock after selling 43,776 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Centene were worth $6,113,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Operose Advisors LLC bought a new stake in Centene in the third quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Centene during the 4th quarter valued at $25,000. Riggs Asset Managment Co. Inc. bought a new position in shares of Centene during the fourth quarter valued at approximately $32,000. Headinvest LLC purchased a new position in Centene during the third quarter valued at $35,000. Finally, Provence Wealth Management Group bought a new position in Centene in the 3rd quarter worth about $44,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on CNC. Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 target price on shares of Centene in a research note on Thursday, April 4th. Oppenheimer restated an “outperform” rating and set a $110.00 price target on shares of Centene in a research note on Monday, April 29th. Baird R W raised shares of Centene to a “hold” rating in a report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft raised their target price on Centene from $81.00 to $82.00 and gave the stock a “hold” rating in a report on Tuesday, April 30th. Finally, Wells Fargo & Company raised their price objective on Centene from $89.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $84.93.

View Our Latest Analysis on CNC

Centene Trading Down 0.9 %

Shares of CNC stock opened at $69.81 on Friday. The stock’s 50-day moving average price is $74.11 and its 200-day moving average price is $75.51. Centene Co. has a 12-month low of $60.83 and a 12-month high of $81.42. The stock has a market capitalization of $37.25 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 0.91 and a beta of 0.47. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.66.

Centene (NYSE:CNCGet Free Report) last released its quarterly earnings data on Friday, April 26th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.09 by $0.17. The business had revenue of $40.41 billion during the quarter, compared to analyst estimates of $36.43 billion. Centene had a net margin of 1.76% and a return on equity of 14.19%. Centene’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.11 earnings per share. Equities research analysts predict that Centene Co. will post 6.82 EPS for the current fiscal year.

Insider Activity

In related news, President Kenneth J. Fasola sold 8,000 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $77.62, for a total value of $620,960.00. Following the sale, the president now directly owns 300,357 shares of the company’s stock, valued at approximately $23,313,710.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, President Kenneth J. Fasola sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $77.62, for a total transaction of $620,960.00. Following the transaction, the president now directly owns 300,357 shares of the company’s stock, valued at $23,313,710.34. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Christopher J. Coughlin sold 878 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $76.75, for a total value of $67,386.50. Following the completion of the sale, the director now owns 25,504 shares of the company’s stock, valued at $1,957,432. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

About Centene

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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