SouthState Corp Sells 12,067 Shares of Centene Co. (NYSE:CNC)

SouthState Corp decreased its position in shares of Centene Co. (NYSE:CNC) by 29.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,209 shares of the company’s stock after selling 12,067 shares during the quarter. SouthState Corp’s holdings in Centene were worth $1,769,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Advisors Ltd. LLC lifted its stake in shares of Centene by 75.3% during the 4th quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company’s stock worth $25,000 after purchasing an additional 177 shares during the last quarter. Rialto Wealth Management LLC purchased a new stake in shares of Centene during the 4th quarter worth $30,000. OFI Invest Asset Management purchased a new stake in shares of Centene during the 4th quarter worth $33,000. SRS Capital Advisors Inc. lifted its stake in shares of Centene by 73.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 631 shares of the company’s stock worth $38,000 after purchasing an additional 267 shares during the last quarter. Finally, Riverview Trust Co lifted its stake in shares of Centene by 172.7% during the 4th quarter. Riverview Trust Co now owns 758 shares of the company’s stock worth $46,000 after purchasing an additional 480 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.

Centene Stock Up 0.5 %

Centene stock opened at $58.27 on Monday. The firm has a market cap of $28.90 billion, a price-to-earnings ratio of 9.34, a price-to-earnings-growth ratio of 0.80 and a beta of 0.40. Centene Co. has a 52 week low of $55.03 and a 52 week high of $80.59. The business’s 50-day moving average price is $60.60 and its 200 day moving average price is $63.73. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.70.

Centene (NYSE:CNC) last posted its earnings results on Tuesday, February 4th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.49 by $0.31. The firm had revenue of $40.81 billion for the quarter, compared to analyst estimates of $38.78 billion. Centene had a return on equity of 13.85% and a net margin of 2.03%. Centene’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $0.45 earnings per share. As a group, sell-side analysts anticipate that Centene Co. will post 6.86 earnings per share for the current year.

Insider Buying and Selling at Centene

In other Centene news, Director Thomas Greco acquired 17,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were bought at an average cost of $59.75 per share, with a total value of $1,015,750.00. Following the completion of the acquisition, the director now owns 19,309 shares in the company, valued at approximately $1,153,712.75. This trade represents a 736.25 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CNC shares. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price objective on shares of Centene in a research note on Wednesday, December 11th. Barclays increased their price target on Centene from $91.00 to $93.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $75.00 price target (down from $80.00) on shares of Centene in a research note on Tuesday, December 17th. Truist Financial decreased their price target on Centene from $89.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Finally, Robert W. Baird increased their price target on Centene from $66.00 to $71.00 in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Centene has a consensus rating of “Moderate Buy” and an average price target of $79.92.

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.