SVB Wealth LLC Sells 3,034 Shares of Centene Co. (NYSE:CNC)

SVB Wealth LLC lessened its holdings in shares of Centene Co. (NYSE:CNC) by 25.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,690 shares of the company’s stock after selling 3,034 shares during the quarter. SVB Wealth LLC’s holdings in Centene were worth $645,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Coppell Advisory Solutions Corp. purchased a new stake in shares of Centene in the 4th quarter worth about $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Centene in the 4th quarter worth about $25,000. Operose Advisors LLC purchased a new stake in shares of Centene in the 3rd quarter worth about $25,000. OFI Invest Asset Management purchased a new stake in shares of Centene in the 3rd quarter worth about $26,000. Finally, Headinvest LLC purchased a new stake in shares of Centene in the 3rd quarter worth about $35,000. Institutional investors own 93.63% of the company’s stock.

Centene Stock Up 1.9 %

NYSE:CNC opened at $75.15 on Friday. The firm has a market cap of $40.20 billion, a P/E ratio of 15.31, a P/E/G ratio of 0.90 and a beta of 0.38. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.11 and a current ratio of 1.11. Centene Co. has a fifty-two week low of $60.83 and a fifty-two week high of $81.42. The firm has a 50-day simple moving average of $76.56 and a two-hundred day simple moving average of $74.57.

Centene (NYSE:CNC) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. Centene had a net margin of 1.75% and a return on equity of 14.26%. The business had revenue of $39.46 billion during the quarter, compared to analyst estimates of $36.16 billion. During the same period last year, the business earned $0.86 EPS. Centene’s revenue was up 11.0% compared to the same quarter last year. Analysts predict that Centene Co. will post 6.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CNC has been the subject of several research analyst reports. Stephens reaffirmed an “equal weight” rating and issued a $85.00 target price (down from $92.00) on shares of Centene in a research report on Thursday, March 21st. Wells Fargo & Company increased their price target on shares of Centene from $89.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price target on shares of Centene in a research note on Thursday, April 4th. Barclays began coverage on shares of Centene in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $101.00 price target for the company. Finally, StockNews.com lowered shares of Centene from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 28th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Centene currently has an average rating of “Moderate Buy” and an average target price of $85.38.

Insider Transactions at Centene

In other news, President Kenneth J. Fasola sold 12,000 shares of Centene stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $75.07, for a total value of $900,840.00. Following the completion of the sale, the president now directly owns 235,365 shares in the company, valued at $17,668,850.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, President Kenneth J. Fasola sold 12,000 shares of Centene stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $75.07, for a total value of $900,840.00. Following the completion of the sale, the president now directly owns 235,365 shares in the company, valued at $17,668,850.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lori Jean Robinson sold 10,000 shares of Centene stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $77.41, for a total transaction of $774,100.00. Following the completion of the sale, the director now 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 0.33% of the company’s stock.

Centene 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.