Centene Corporation (CNC) Shares Sold by Catalyst Capital Advisors LLC
Catalyst Capital Advisors LLC lessened its holdings in Centene Corporation (NYSE:CNC) by 26.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,300 shares of the company’s stock after selling 9,800 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Centene were worth $2,754,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Columbus Circle Investors acquired a new stake in shares of Centene in the 3rd quarter valued at $9,387,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Centene in the 2nd quarter valued at $455,000. Handelsbanken Fonder AB boosted its holdings in shares of Centene by 29.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 178,000 shares of the company’s stock valued at $17,225,000 after purchasing an additional 40,000 shares in the last quarter. Trustmark National Bank Trust Department acquired a new stake in shares of Centene in the 3rd quarter valued at $291,000. Finally, Allen Investment Management LLC acquired a new stake in shares of Centene in the 3rd quarter valued at $327,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have weighed in on the company. Morgan Stanley raised their target price on Centene from $118.00 to $126.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. ValuEngine raised Centene from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Goldman Sachs Group assumed coverage on Centene in a report on Wednesday, January 3rd. They issued a “buy” rating and a $135.00 target price on the stock. Credit Suisse Group raised their target price on Centene from $110.00 to $112.00 and gave the company a “neutral” rating in a report on Wednesday, February 7th. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $111.00 target price on shares of Centene in a report on Friday, December 15th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $110.28.
Centene (NYSE:CNC) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.03. Centene had a return on equity of 13.68% and a net margin of 1.71%. The company had revenue of $12.81 billion during the quarter, compared to analysts’ expectations of $12.25 billion. During the same period in the prior year, the company earned $1.19 EPS. Centene’s revenue was up 7.5% compared to the same quarter last year. sell-side analysts predict that Centene Corporation will post 7.23 earnings per share for the current fiscal year.
In related news, EVP Keith H. Williamson sold 5,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $100.11, for a total transaction of $500,550.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jesse N. Hunter sold 10,000 shares of the firm’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $98.73, for a total value of $987,300.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,500 shares of company stock valued at $3,311,613. 3.00% of the stock is owned by corporate insiders.
Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.
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