Premier Path Wealth Partners LLC Sells 882 Shares of Centene Co. (NYSE:CNC)

Premier Path Wealth Partners LLC cut its stake in Centene Co. (NYSE:CNC) by 19.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,660 shares of the company’s stock after selling 882 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Centene were worth $243,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Pinebridge Investments L.P. grew its stake in shares of Centene by 52.4% in the fourth quarter. Pinebridge Investments L.P. now owns 327,442 shares of the company’s stock worth $24,298,000 after acquiring an additional 112,605 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Centene by 18.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 624,944 shares of the company’s stock valued at $49,046,000 after buying an additional 98,298 shares during the period. GSA Capital Partners LLP grew its position in Centene by 435.0% during the first quarter. GSA Capital Partners LLP now owns 20,052 shares of the company’s stock valued at $1,574,000 after buying an additional 16,304 shares during the period. Diversified Trust Co grew its position in Centene by 35.8% during the second quarter. Diversified Trust Co now owns 28,009 shares of the company’s stock valued at $1,857,000 after buying an additional 7,385 shares during the period. Finally, Wells Fargo & Company MN grew its position in Centene by 5.8% during the fourth quarter. Wells Fargo & Company MN now owns 947,577 shares of the company’s stock valued at $70,320,000 after buying an additional 51,878 shares during the period. 93.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CNC has been the subject of several recent research reports. Oppenheimer cut their target price 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 cut their target price on shares of Centene from $92.00 to $89.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Barclays upped their price target on shares of Centene from $90.00 to $98.00 and gave the stock an “overweight” rating in a research report on Thursday. TD Cowen upped their price target on shares of Centene from $80.00 to $89.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $83.93.

Centene Price Performance

Shares of CNC stock traded up $0.32 during mid-day trading on Friday, hitting $78.55. The company had a trading volume of 2,121,723 shares, compared to its average volume of 3,459,605. Centene Co. has a 52-week low of $60.83 and a 52-week high of $81.42. The stock’s 50 day moving average price is $71.02 and its 200-day moving average price is $73.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.17 and a quick ratio of 1.17. The company has a market capitalization of $41.92 billion, a P/E ratio of 15.62, a P/E/G ratio of 1.00 and a beta of 0.50.

Centene (NYSE:CNC) last released its earnings results on Friday, July 26th. The company reported $2.42 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.02). The company had revenue of $39.84 billion during the quarter, compared to analysts’ expectations of $36.83 billion. Centene had a return on equity of 14.45% and a net margin of 1.79%. Centene’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period last year, the firm posted $2.10 EPS. Equities research analysts forecast that Centene Co. will post 6.84 earnings per share for the current year.

Centene Company 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.