Centene Co. (NYSE:CNC) Shares Sold by UBS Group AG

UBS Group AG cut its holdings in shares of Centene Co. (NYSE:CNC) by 30.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 878,117 shares of the company’s stock after selling 378,190 shares during the period. UBS Group AG owned about 0.15% of Centene worth $56,120,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Crossmark Global Holdings Inc. increased its stake in shares of Centene by 0.9% during the first quarter. Crossmark Global Holdings Inc. now owns 18,365 shares of the company’s stock worth $1,174,000 after buying an additional 160 shares during the period. Checchi Capital Advisers LLC increased its stake in shares of Centene by 4.0% during the first quarter. Checchi Capital Advisers LLC now owns 4,617 shares of the company’s stock worth $295,000 after buying an additional 177 shares during the period. Lindbrook Capital LLC increased its stake in shares of Centene by 28.9% during the first quarter. Lindbrook Capital LLC now owns 808 shares of the company’s stock worth $52,000 after buying an additional 181 shares during the period. Huntington National Bank increased its stake in shares of Centene by 35.1% during the first quarter. Huntington National Bank now owns 712 shares of the company’s stock worth $46,000 after buying an additional 185 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of Centene by 4.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,957 shares of the company’s stock worth $298,000 after buying an additional 190 shares during the period. Institutional investors own 89.77% of the company’s stock.

CNC has been the topic of a number of recent research reports. TheStreet upgraded shares of Centene from a “c+” rating to a “b-” rating in a research note on Thursday, April 1st. Bank of America increased their price target on shares of Centene from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday. Stephens upgraded shares of Centene from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $71.00 to $87.00 in a research note on Tuesday, May 11th. BMO Capital Markets increased their price target on shares of Centene from $77.00 to $88.00 and gave the company an “outperform” rating in a research note on Tuesday, May 11th. Finally, Wells Fargo & Company started coverage on shares of Centene in a research note on Monday, May 24th. They issued an “overweight” rating and a $87.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $79.04.

In related news, Director John R. Roberts sold 5,000 shares of Centene stock in a transaction dated Friday, May 7th. The stock was sold at an average price of $70.00, for a total transaction of $350,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark J. Brooks sold 15,000 shares of Centene stock in a transaction dated Friday, May 7th. The stock was sold at an average price of $68.00, for a total value of $1,020,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 39,883 shares of company stock valued at $2,626,390. 1.80% of the stock is owned by corporate insiders.

Shares of NYSE CNC opened at $71.02 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.63. The business’s fifty day moving average is $67.53. Centene Co. has a 1-year low of $53.60 and a 1-year high of $74.52. The firm has a market capitalization of $41.39 billion, a P/E ratio of 16.95, a PEG ratio of 1.19 and a beta of 0.47.

Centene (NYSE:CNC) last released its 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 13.09% and a net margin of 2.14%. The company had revenue of $29.96 billion during the quarter, compared to the consensus estimate of $29.55 billion. During the same quarter last year, the company earned $0.86 earnings per share. Centene’s quarterly revenue was up 15.1% compared to the same quarter last year. On average, research analysts expect that Centene Co. will post 5.21 EPS for the current year.

Centene Profile

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.

See Also: Initial Public Offering (IPO)

Institutional Ownership by Quarter for Centene (NYSE:CNC)

Receive News & Ratings for Centene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Centene and related companies with MarketBeat.com's FREE daily email newsletter.