Cognios Beta Neutral Large Cap Fund LP Sells 862 Shares of Centene Co. (NYSE:CNC)

Cognios Beta Neutral Large Cap Fund LP lowered its holdings in shares of Centene Co. (NYSE:CNC) by 10.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,566 shares of the company’s stock after selling 862 shares during the period. Cognios Beta Neutral Large Cap Fund LP’s holdings in Centene were worth $561,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC bought a new position in Centene during the 4th quarter worth approximately $182,000. Marks Group Wealth Management Inc boosted its stake in Centene by 1.5% during the 4th quarter. Marks Group Wealth Management Inc now owns 83,192 shares of the company’s stock valued at $6,174,000 after purchasing an additional 1,242 shares during the last quarter. California Public Employees Retirement System grew its position in Centene by 42.9% in the 4th quarter. California Public Employees Retirement System now owns 2,161,362 shares of the company’s stock worth $160,395,000 after purchasing an additional 648,620 shares in the last quarter. Jennison Associates LLC boosted its position in Centene by 535.9% in the fourth quarter. Jennison Associates LLC now owns 1,837,980 shares of the company’s stock worth $136,396,000 after purchasing an additional 1,548,961 shares during the last quarter. Finally, Greenwich Wealth Management LLC grew its holdings in Centene by 0.5% during the fourth quarter. Greenwich Wealth Management LLC now owns 37,578 shares of the company’s stock valued at $2,789,000 after purchasing an additional 176 shares during the period. 93.63% of the stock is owned by institutional investors and hedge funds.

Centene Stock Performance

NYSE:CNC traded up $0.35 during trading hours on Wednesday, reaching $76.19. The company had a trading volume of 2,775,955 shares, compared to its average volume of 3,050,563. Centene Co. has a 52 week low of $60.83 and a 52 week high of $81.42. The firm’s 50 day moving average price is $76.50 and its 200-day moving average price is $74.74. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.68. The firm has a market cap of $40.75 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 0.94 and a beta of 0.38.

Centene (NYSE:CNC) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.45 EPS for the quarter, topping 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 analysts’ expectations of $36.16 billion. During the same period last year, the company posted $0.86 EPS. The business’s revenue was up 11.0% on a year-over-year basis. On average, analysts forecast that Centene Co. will post 6.75 EPS for the current year.

Insider Activity at Centene

In other news, Director Lori Jean Robinson sold 10,000 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $77.41, for a total value of $774,100.00. Following the sale, the director now owns 11,455 shares of the company’s stock, valued at $886,731.55. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Centene news, President Kenneth J. Fasola sold 12,000 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $75.07, for a total transaction of $900,840.00. Following the transaction, the president now directly owns 235,365 shares in the company, valued at approximately $17,668,850.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lori Jean Robinson sold 10,000 shares of Centene stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $77.41, for a total value of $774,100.00. Following the completion of the transaction, the director now owns 11,455 shares in the company, valued at approximately $886,731.55. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on CNC. StockNews.com cut shares of Centene from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 28th. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 price objective on shares of Centene in a research report on Thursday, April 4th. Stephens restated an “equal weight” rating and set a $85.00 price target (down previously from $92.00) on shares of Centene in a research report on Thursday, March 21st. Barclays started coverage on Centene in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $101.00 target price for the company. Finally, Wells Fargo & Company upped their price objective on shares of Centene from $89.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.38.

Centene Company 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.