Gulf International Bank UK Ltd Trims Holdings in Centene Co. (NYSE:CNC)

Gulf International Bank UK Ltd trimmed its stake in Centene Co. (NYSE:CNC) by 1.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 42,885 shares of the company’s stock after selling 465 shares during the period. Gulf International Bank UK Ltd’s holdings in Centene were worth $2,597,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC increased its stake in 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 buying an additional 177 shares during the period. Private Trust Co. NA increased its stake in Centene by 75.3% during the 3rd quarter. Private Trust Co. NA now owns 773 shares of the company’s stock worth $58,000 after buying an additional 332 shares during the period. True Wealth Design LLC purchased a new stake in Centene during the 3rd quarter worth approximately $66,000. R Squared Ltd purchased a new stake in Centene during the 4th quarter worth approximately $82,000. Finally, Venturi Wealth Management LLC increased its stake in Centene by 77.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,163 shares of the company’s stock worth $88,000 after buying an additional 507 shares during the period. 93.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company cut their target price on shares of Centene from $76.00 to $72.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 price target on shares of Centene in a report on Wednesday, December 11th. Truist Financial lowered their price target on shares of Centene from $89.00 to $84.00 and set a “buy” rating for the company in a report on Friday, December 13th. UBS Group upgraded shares of Centene from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $79.00 to $80.00 in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $75.00 price target (down previously from $80.00) on shares of Centene in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $79.92.

Centene Trading Down 0.2 %

Shares of Centene stock opened at $58.06 on Friday. The company has a fifty day simple moving average of $60.98 and a 200-day simple moving average of $65.26. Centene Co. has a 12-month low of $55.03 and a 12-month high of $80.59. The company has a current ratio of 1.11, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70. The stock has a market cap of $28.80 billion, a price-to-earnings ratio of 9.30, a PEG ratio of 0.80 and a beta of 0.45.

Centene (NYSE:CNC) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.31. The firm had revenue of $40.81 billion during the quarter, compared to analysts’ expectations of $38.78 billion. Centene had a net margin of 2.03% and a return on equity of 13.85%. Centene’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.45 EPS. On average, equities analysts forecast that Centene Co. will post 6.86 EPS for the current fiscal year.

Insider Buying and Selling

In other Centene news, Director H James Dallas purchased 1,693 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average price of $59.01 per share, for a total transaction of $99,903.93. Following the purchase, the director now directly owns 1,693 shares in the company, valued at approximately $99,903.93. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas Greco purchased 17,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were acquired at an average price of $59.75 per share, with a total value of $1,015,750.00. Following the purchase, the director now owns 19,309 shares in the company, valued at $1,153,712.75. This trade represents a 736.25 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 23,693 shares of company stock worth $1,409,954 in the last 90 days. 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.