Norden Group LLC Decreases Stock Holdings in Centene Co. (NYSE:CNC)

Norden Group LLC lessened its holdings in Centene Co. (NYSE:CNC) by 23.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,277 shares of the company’s stock after selling 985 shares during the period. Norden Group LLC’s holdings in Centene were worth $243,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. QV Investors Inc. lifted its holdings in shares of Centene by 12.3% in the 4th quarter. QV Investors Inc. now owns 305,277 shares of the company’s stock valued at $22,655,000 after acquiring an additional 33,350 shares during the last quarter. AustralianSuper Pty Ltd raised its holdings in Centene by 23.6% during the 4th quarter. AustralianSuper Pty Ltd now owns 1,215,997 shares of the company’s stock valued at $90,239,000 after buying an additional 231,931 shares during the period. Advisors Preferred LLC bought a new position in Centene during the fourth quarter valued at $2,349,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Centene by 57.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 187,958 shares of the company’s stock valued at $13,941,000 after acquiring an additional 68,854 shares during the period. Finally, Handelsbanken Fonder AB grew its holdings in Centene by 17.7% during the 4th quarter. Handelsbanken Fonder AB now owns 286,205 shares of the company’s stock valued at $21,239,000 after purchasing an additional 43,118 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.

Insider Activity

In other Centene news, President Kenneth J. Fasola sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $75.07, for a total transaction of $900,840.00. Following the transaction, the president now owns 235,365 shares in the company, valued at approximately $17,668,850.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Centene news, Director Lori Jean Robinson sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was 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 directly owns 11,455 shares of the company’s stock, valued at $886,731.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Kenneth J. Fasola sold 12,000 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $75.07, for a total transaction of $900,840.00. Following the completion of the transaction, the president now owns 235,365 shares of the company’s stock, valued at $17,668,850.55. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Centene Trading Down 1.1 %

NYSE CNC opened at $72.25 on Thursday. The firm has a market cap of $38.56 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 0.94 and a beta of 0.41. Centene Co. has a 52 week low of $60.83 and a 52 week high of $81.42. The company has a quick ratio of 1.11, a current ratio of 1.17 and a debt-to-equity ratio of 0.66. The company has a 50 day moving average price of $75.96 and a 200 day moving average price of $74.84.

Centene (NYSE:CNC) last posted its quarterly earnings data on Friday, April 26th. The company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.17. Centene had a return on equity of 14.19% and a net margin of 1.76%. The firm had revenue of $40.41 billion during the quarter, compared to analysts’ expectations of $36.43 billion. During the same quarter last year, the firm earned $2.11 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, sell-side analysts forecast that Centene Co. will post 6.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CNC has been the subject of several recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 target price on shares of Centene in a research report on Thursday, April 4th. Barclays began coverage on Centene in a research report on Wednesday, March 6th. They set an “overweight” rating and a $101.00 target price for the company. Stephens reaffirmed an “equal weight” rating and issued a $85.00 price target (down previously from $92.00) on shares of Centene in a research note on Thursday, March 21st. StockNews.com upgraded shares of Centene from a “buy” rating to a “strong-buy” rating in a research note on Monday. Finally, Oppenheimer reiterated an “outperform” rating and issued a $110.00 price target on shares of Centene in a report on Monday. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

About Centene

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.