Centene Co. (NYSE:CNC) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lessened its stake in Centene Co. (NYSE:CNC) by 1.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,641,692 shares of the company’s stock after selling 22,415 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Centene were worth $128,840,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Hohimer Wealth Management LLC lifted its holdings in shares of Centene by 1.1% in the 4th quarter. Hohimer Wealth Management LLC now owns 12,020 shares of the company’s stock valued at $892,000 after buying an additional 131 shares during the period. Sandy Spring Bank raised its holdings in Centene by 10.1% in the 4th quarter. Sandy Spring Bank now owns 1,629 shares of the company’s stock worth $121,000 after purchasing an additional 150 shares during the period. First Bank & Trust increased its stake in Centene by 4.1% during the 4th quarter. First Bank & Trust now owns 4,154 shares of the company’s stock worth $308,000 after buying an additional 162 shares in the last quarter. Blue Trust Inc. increased its stake in Centene by 7.2% during the 4th quarter. Blue Trust Inc. now owns 2,454 shares of the company’s stock worth $169,000 after buying an additional 164 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. increased its stake in Centene by 0.5% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 32,396 shares of the company’s stock worth $2,404,000 after buying an additional 174 shares in the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Up 0.9 %

Shares of NYSE CNC traded up $0.58 during mid-day trading on Wednesday, hitting $66.77. The company had a trading volume of 588,101 shares, compared to its average volume of 3,361,227. The company has a market capitalization of $35.63 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 0.85 and a beta of 0.50. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.17 and a quick ratio of 1.17. Centene Co. has a 1-year low of $60.83 and a 1-year high of $81.42. The business’s 50-day simple moving average is $72.19 and its 200 day simple moving average is $74.73.

Centene (NYSE:CNC) last announced its quarterly earnings data on Friday, April 26th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.17. The business had revenue of $40.41 billion for the quarter, compared to analysts’ expectations of $36.43 billion. Centene had a return on equity of 14.19% and a net margin of 1.76%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the firm earned $2.11 earnings per share. On average, analysts predict that Centene Co. will post 6.82 earnings per share for the current year.

Analysts Set New Price Targets

CNC has been the subject of several research reports. Barclays boosted their price objective on Centene from $101.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Robert W. Baird began coverage on Centene in a research report on Thursday, May 30th. They issued a “neutral” rating and a $83.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price objective on shares of Centene in a research report on Wednesday, June 12th. StockNews.com lowered Centene from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Baird R W upgraded Centene to a “hold” rating in a research report on Thursday, May 30th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $84.93.

Insider Activity

In other Centene news, Director Christopher J. Coughlin sold 878 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $76.75, for a total value of $67,386.50. Following the sale, the director now directly owns 25,504 shares in the company, valued at $1,957,432. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Centene news, President Kenneth J. Fasola sold 8,000 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $77.62, for a total transaction of $620,960.00. Following the transaction, the president now owns 300,357 shares of the company’s stock, valued at $23,313,710.34. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Christopher J. Coughlin sold 878 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $76.75, for a total value of $67,386.50. Following the transaction, the director now directly owns 25,504 shares in the company, valued at approximately $1,957,432. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

About Centene

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.