Krilogy Financial LLC Sells 20,976 Shares of Centene Corporation $CNC

Krilogy Financial LLC lowered its stake in Centene Corporation (NYSE:CNC) by 23.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,021 shares of the company’s stock after selling 20,976 shares during the quarter. Krilogy Financial LLC’s holdings in Centene were worth $2,194,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Baird Financial Group Inc. bought a new stake in Centene during the 1st quarter worth approximately $236,000. Sivia Capital Partners LLC boosted its holdings in Centene by 80.0% in the 2nd quarter. Sivia Capital Partners LLC now owns 9,710 shares of the company’s stock valued at $527,000 after purchasing an additional 4,315 shares during the period. CW Advisors LLC grew its position in shares of Centene by 20.3% during the 2nd quarter. CW Advisors LLC now owns 4,863 shares of the company’s stock valued at $264,000 after purchasing an additional 820 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of Centene by 6.1% in the second quarter. NewEdge Advisors LLC now owns 44,945 shares of the company’s stock worth $2,440,000 after purchasing an additional 2,582 shares during the period. Finally, Treasurer of the State of North Carolina raised its position in shares of Centene by 0.4% in the second quarter. Treasurer of the State of North Carolina now owns 231,938 shares of the company’s stock worth $12,590,000 after buying an additional 967 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors.

Centene Stock Performance

NYSE CNC opened at $62.90 on Thursday. The company has a 50-day simple moving average of $55.55 and a two-hundred day simple moving average of $45.67. Centene Corporation has a 12-month low of $25.08 and a 12-month high of $66.55. The firm has a market cap of $31.06 billion, a price-to-earnings ratio of -4.79, a PEG ratio of 0.49 and a beta of 1.09. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.76.

Centene (NYSE:CNC) last released its quarterly earnings data on Tuesday, April 28th. The company reported $3.37 EPS for the quarter, topping the consensus estimate of $2.23 by $1.14. The firm had revenue of $49.94 billion for the quarter, compared to the consensus estimate of $47.53 billion. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.90 earnings per share. On average, equities analysts forecast that Centene Corporation will post 3.45 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on CNC. Sanford C. Bernstein boosted their target price on Centene from $48.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. UBS Group reaffirmed a “neutral” rating and issued a $61.00 price target (up from $55.00) on shares of Centene in a report on Friday, May 22nd. Truist Financial boosted their price objective on Centene from $58.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Raymond James Financial set a $60.00 price objective on shares of Centene in a research report on Wednesday, April 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Centene in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $60.78.

About Centene

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.