Centene Co. (NYSE:CNC) Shares Sold by Krilogy Financial LLC

Krilogy Financial LLC lowered its position in Centene Co. (NYSE:CNCGet Rating) by 49.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,763 shares of the company’s stock after selling 6,712 shares during the period. Krilogy Financial LLC’s holdings in Centene were worth $572,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GHP Investment Advisors Inc. purchased a new position in shares of Centene during the 1st quarter worth $27,000. Chilton Capital Management LLC acquired a new stake in shares of Centene during the fourth quarter valued at about $28,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Centene by 145.5% during the second quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the company’s stock valued at $30,000 after acquiring an additional 211 shares in the last quarter. Byrne Asset Management LLC acquired a new stake in shares of Centene during the fourth quarter valued at about $33,000. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new position in shares of Centene during the first quarter worth about $39,000. Hedge funds and other institutional investors own 94.74% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on CNC shares. Cowen reduced their price target on shares of Centene from $108.00 to $101.00 in a research report on Thursday. Morgan Stanley reduced their price target on shares of Centene from $112.00 to $103.00 and set an “overweight” rating on the stock in a research report on Thursday, June 23rd. Cowen cut their target price on shares of Centene from $108.00 to $101.00 in a report on Thursday. Deutsche Bank Aktiengesellschaft raised their target price on shares of Centene from $91.00 to $99.00 in a report on Wednesday, July 27th. Finally, Sanford C. Bernstein began coverage on shares of Centene in a report on Thursday, May 26th. They issued an “outperform” rating and a $108.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $98.63.

Centene Trading Down 2.4 %

Centene stock opened at $78.94 on Friday. The company has a 50 day moving average price of $91.34 and a 200 day moving average price of $86.43. Centene Co. has a 52 week low of $60.81 and a 52 week high of $98.53. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $45.12 billion, a price-to-earnings ratio of 25.06, a P/E/G ratio of 1.00 and a beta of 0.52.

Centene (NYSE:CNCGet Rating) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.18. Centene had a net margin of 1.35% and a return on equity of 12.92%. The firm had revenue of $35.94 billion during the quarter, compared to analyst estimates of $35.56 billion. During the same quarter last year, the business posted $1.25 EPS. The company’s revenue was up 15.8% on a year-over-year basis. Research analysts forecast that Centene Co. will post 5.7 EPS for the current year.

Centene declared that its Board of Directors has authorized a share buyback plan on Friday, June 17th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Shannon Bagley sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $92.21, for a total value of $829,890.00. Following the completion of the transaction, the executive vice president now owns 118,194 shares of the company’s stock, valued at approximately $10,898,668.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Centene news, Director Lori Jean Robinson sold 1,200 shares of Centene stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $92.77, for a total transaction of $111,324.00. Following the completion of the sale, the director now owns 9,908 shares of the company’s stock, valued at approximately $919,165.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Shannon Bagley sold 9,000 shares of the company’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $92.21, for a total transaction of $829,890.00. Following the completion of the sale, the executive vice president now owns 118,194 shares of the company’s stock, valued at $10,898,668.74. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,680 shares of company stock valued at $1,335,454. Company insiders own 0.28% of the company’s stock.

About Centene

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Centene Corporation operates as a multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. Its Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which cover dually eligible individuals, as well as aged, blind, or disabled programs.

Further Reading

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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