RFG Advisory LLC Sells 1,209 Shares of Centene Co. (NYSE:CNC)

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

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in Centene during the 4th quarter valued at $1,325,441,000. Swedbank AB bought a new stake in Centene during the 1st quarter valued at $914,080,000. Harris Associates L P increased its stake in Centene by 172.8% during the 4th quarter. Harris Associates L P now owns 10,863,367 shares of the company’s stock valued at $806,170,000 after purchasing an additional 6,881,450 shares in the last quarter. Capital International Investors increased its stake in Centene by 60.2% during the 1st quarter. Capital International Investors now owns 5,216,486 shares of the company’s stock valued at $409,390,000 after purchasing an additional 1,959,460 shares in the last quarter. Finally, Jennison Associates LLC increased its stake in Centene by 535.9% during the 4th quarter. Jennison Associates LLC now owns 1,837,980 shares of the company’s stock valued at $136,396,000 after purchasing an additional 1,548,961 shares in the last quarter. Institutional investors own 93.63% of the company’s stock.

Centene Stock Performance

Shares of CNC traded down $0.33 during mid-day trading on Monday, hitting $75.67. The stock had a trading volume of 3,351,010 shares, compared to its average volume of 3,518,294. The firm has a market cap of $40.38 billion, a P/E ratio of 15.11, a PEG ratio of 1.00 and a beta of 0.50. The business has a fifty day moving average price of $69.39 and a 200-day moving average price of $73.64. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.17 and a quick ratio of 1.17. Centene Co. has a 52 week low of $60.83 and a 52 week high of $81.42.

Centene (NYSE:CNC) last issued its 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 net margin of 1.79% and a return on equity of 14.45%. The firm had revenue of $39.84 billion during the quarter, compared to the consensus estimate of $36.83 billion. During the same quarter in the previous year, the firm earned $2.10 earnings per share. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, equities research analysts expect that Centene Co. will post 6.84 EPS for the current year.

Insider Activity at Centene

In related news, Director Christopher J. Coughlin sold 878 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $76.75, for a total transaction of $67,386.50. Following the sale, the director now directly owns 25,504 shares in the company, valued at approximately $1,957,432. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on CNC shares. Stephens restated an “equal weight” rating and set a $78.00 price target on shares of Centene in a research note on Monday, August 5th. Oppenheimer reduced their price objective on shares of Centene from $110.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, July 29th. Truist Financial dropped their target price on shares of Centene from $92.00 to $89.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft increased their price target on Centene from $82.00 to $87.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price objective on shares of Centene in a research report on Tuesday, July 23rd. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $84.36.

Centene 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.