CMC Financial Group reduced its position in shares of Centene Co. (NYSE:CNC) by 3.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,173 shares of the company’s stock after selling 623 shares during the period. Centene comprises approximately 0.7% of CMC Financial Group’s portfolio, making the stock its 20th largest position. CMC Financial Group’s holdings in Centene were worth $1,161,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. GPS Wealth Strategies Group LLC acquired a new position in shares of Centene during the first quarter worth about $26,000. 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 worth $27,000 after purchasing an additional 368 shares during the period. Exchange Traded Concepts LLC acquired a new stake in Centene during the 4th quarter valued at $27,000. Safeguard Investment Advisory Group LLC acquired a new stake in Centene during the 4th quarter valued at $27,000. Finally, DB Wealth Management Group LLC acquired a new position in Centene during the 4th quarter worth $28,000. 91.50% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have recently issued reports on CNC. Zacks Investment Research upgraded shares of Centene from a “sell” rating to a “hold” rating and set a $61.00 price target on the stock in a report on Monday, February 22nd. TheStreet upgraded shares of Centene from a “c+” rating to a “b-” rating in a research report on Thursday, April 1st. Mizuho began coverage on shares of Centene in a research note on Monday, March 15th. They issued a “neutral” rating and a $65.00 target price on the stock. Jefferies Financial Group lowered shares of Centene from a “buy” rating to a “hold” rating and reduced their target price for the company from $75.00 to $72.00 in a research note on Friday, January 15th. Finally, BMO Capital Markets dropped their target price on shares of Centene from $88.00 to $77.00 in a report on Wednesday, April 28th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Centene presently has a consensus rating of “Hold” and an average target price of $75.75.

Centene stock opened at $62.42 on Tuesday. The stock has a 50 day moving average of $63.65 and a 200-day moving average of $62.74. Centene Co. has a 52 week low of $53.60 and a 52 week high of $72.31. The stock has a market cap of $36.37 billion, a P/E ratio of 17.39, a price-to-earnings-growth ratio of 1.03 and a beta of 0.55. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.65.

Centene (NYSE:CNC) last issued its quarterly earnings results on Monday, April 26th. The company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.04. Centene had a return on equity of 13.45% and a net margin of 2.00%. The company had revenue of $29.96 billion for the quarter, compared to analyst estimates of $29.55 billion. During the same period last year, the company earned $0.86 earnings per share. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. As a group, equities analysts predict that Centene Co. will post 4.99 earnings per share for the current fiscal year.

In related news, Director Orlando Ayala sold 8,000 shares of the company’s stock in a transaction dated Thursday, February 11th. The stock was sold at an average price of $60.97, for a total value of $487,760.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John R. Roberts sold 5,000 shares of the business’s stock in a transaction dated Friday, March 19th. The shares were sold at an average price of $65.00, for a total value of $325,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,201 shares of company stock worth $1,244,820. Company insiders own 1.90% of the company’s stock.

About Centene

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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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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