Centene Co. (NYSE:CNC) Shares Sold by RFG Advisory LLC

RFG Advisory LLC cut its holdings in shares of Centene Co. (NYSE:CNC) by 8.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,836 shares of the company’s stock after selling 1,209 shares during the period. RFG Advisory LLC’s holdings in Centene were worth $917,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Rise Advisors LLC bought a new position in shares of Centene during the first quarter worth about $25,000. Riggs Asset Managment Co. Inc. bought a new position in Centene in the fourth quarter worth about $32,000. Neo Ivy Capital Management bought a new position in Centene in the fourth quarter worth about $40,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Centene in the second quarter worth about $36,000. Finally, Access Investment Management LLC bought a new position in Centene in the fourth quarter worth about $44,000. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Price Performance

Centene stock traded down $0.33 during mid-day trading on Monday, hitting $75.67. The company’s stock had a trading volume of 3,351,010 shares, compared to its average volume of 3,518,294. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $40.38 billion, a P/E ratio of 15.11, a P/E/G ratio of 1.00 and a beta of 0.50. Centene Co. has a twelve month low of $60.83 and a twelve month high of $81.42. The stock’s fifty day moving average price is $69.39 and its two-hundred day moving average price is $73.64.

Centene (NYSE:CNC) last posted its quarterly earnings results on Friday, July 26th. The company reported $2.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.02). Centene had a return on equity of 14.45% and a net margin of 1.79%. The business had revenue of $39.84 billion during the quarter, compared to analyst estimates of $36.83 billion. During the same quarter last year, the firm posted $2.10 EPS. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. Research analysts forecast that Centene Co. will post 6.84 earnings per share for the current year.

Insider Buying and Selling at Centene

In related news, Director Christopher J. Coughlin sold 878 shares of Centene stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $76.75, for a total value of $67,386.50. Following the completion of the sale, the director now owns 25,504 shares of the company’s stock, valued at approximately $1,957,432. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CNC. Stephens reissued an “equal weight” rating and issued a $78.00 target price on shares of Centene in a report on Monday, August 5th. Wells Fargo & Company raised their target price on shares of Centene from $81.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. TD Cowen raised their price target on shares of Centene from $80.00 to $89.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Baird R W upgraded shares of Centene to a “hold” rating in a research note on Thursday, May 30th. Finally, Barclays raised their price target on shares of Centene from $101.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Nine 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.36.

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.