Fortem Financial Group LLC trimmed its position in Centene Corporation (NYSE:CNC – Free Report) by 22.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 5,987 shares of the company’s stock after selling 1,690 shares during the period. Fortem Financial Group LLC’s holdings in Centene were worth $363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CNC. Pinney & Scofield Inc. acquired a new position in Centene in the 4th quarter valued at $25,000. Hurley Capital LLC acquired a new position in Centene in the 4th quarter valued at $26,000. Ameriflex Group Inc. acquired a new position in Centene in the 4th quarter valued at $26,000. Studio Investment Management LLC acquired a new position in Centene in the 4th quarter valued at $32,000. Finally, Golden State Wealth Management LLC grew its holdings in Centene by 203.1% in the 1st quarter. Golden State Wealth Management LLC now owns 579 shares of the company’s stock valued at $35,000 after buying an additional 388 shares in the last quarter. 93.63% of the stock is owned by institutional investors and hedge funds.
Centene Price Performance
Shares of CNC stock opened at $31.42 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.65. Centene Corporation has a twelve month low of $31.40 and a twelve month high of $80.59. The company has a market cap of $15.63 billion, a P/E ratio of 4.68, a P/E/G ratio of 0.47 and a beta of 0.44. The business has a fifty day simple moving average of $53.21 and a 200 day simple moving average of $58.08.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on CNC. Robert W. Baird reduced their target price on Centene from $71.00 to $69.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. Wall Street Zen lowered Centene from a “buy” rating to a “hold” rating in a report on Saturday. Jefferies Financial Group reduced their target price on Centene from $64.00 to $61.00 and set a “hold” rating on the stock in a report on Tuesday, April 29th. Guggenheim reissued a “neutral” rating on shares of Centene in a report on Tuesday, April 29th. Finally, Bank of America reduced their target price on Centene from $65.00 to $52.00 and set a “neutral” rating on the stock in a report on Wednesday, July 2nd. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $64.75.
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.
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