Pillar Pacific Capital Management LLC increased its stake in shares of Centene Co. (NYSE:CNC) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 110,024 shares of the company’s stock after acquiring an additional 3,194 shares during the quarter. Pillar Pacific Capital Management LLC’s holdings in Centene were worth $6,605,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of CNC. Trust Co. of Vermont raised its stake in Centene by 1,640.0% during the third quarter. Trust Co. of Vermont now owns 435 shares of the company’s stock valued at $25,000 after purchasing an additional 410 shares in the last quarter. Carroll Financial Associates Inc. raised its stake in Centene by 427.9% during the fourth quarter. Carroll Financial Associates Inc. now owns 454 shares of the company’s stock valued at $27,000 after purchasing an additional 368 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Centene in the fourth quarter valued at $27,000. DB Wealth Management Group LLC purchased a new stake in shares of Centene in the fourth quarter valued at $28,000. Finally, Baron Financial Group LLC purchased a new stake in shares of Centene in the third quarter valued at $30,000. Hedge funds and other institutional investors own 91.50% of the company’s stock.
In related news, Director Orlando Ayala sold 8,000 shares of Centene stock in a transaction on Thursday, February 11th. The shares were sold at an average price of $60.97, for a total value of $487,760.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jesse N. Hunter sold 11,250 shares of Centene stock in a transaction on Friday, January 8th. The shares were sold at an average price of $70.00, for a total transaction of $787,500.00. The disclosure for this sale can be found here. Insiders sold a total of 27,250 shares of company stock worth $1,811,260 in the last three months. 1.90% of the stock is owned by corporate insiders.
Centene (NYSE:CNC) last posted its quarterly earnings results on Monday, February 8th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The business had revenue of $28.29 billion for the quarter, compared to analysts’ expectations of $28.44 billion. Centene had a return on equity of 13.45% and a net margin of 2.00%. The business’s quarterly revenue was up 50.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.73 earnings per share. As a group, analysts expect that Centene Co. will post 4.99 EPS for the current year.
Several equities research analysts have recently weighed in on the stock. Credit Suisse Group reduced their target price on shares of Centene from $72.50 to $67.50 and set a “neutral” rating on the stock in a research note on Wednesday, October 28th. Jefferies Financial Group downgraded shares of Centene from a “buy” rating to a “hold” rating and reduced their price target for the stock from $75.00 to $72.00 in a research note on Friday, January 15th. The Goldman Sachs Group began coverage on shares of Centene in a research note on Thursday, January 21st. They issued a “neutral” rating on the stock. Piper Sandler increased their target price on shares of Centene from $83.00 to $89.00 and gave the stock an “overweight” rating in a report on Wednesday, November 11th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Centene from $83.00 to $77.00 and set a “buy” rating on the stock in a report on Monday, December 21st. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $79.79.
Centene Company Profile
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.
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