Centene Co. (NYSE:CNC) Position Reduced by American International Group Inc.

American International Group Inc. reduced its position in Centene Co. (NYSE:CNC) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 166,642 shares of the company’s stock after selling 3,022 shares during the period. American International Group Inc.’s holdings in Centene were worth $12,367,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Operose Advisors LLC purchased a new stake in shares of Centene in the third quarter valued at $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Centene during the 4th quarter worth about $25,000. Riggs Asset Managment Co. Inc. purchased a new position in Centene during the 4th quarter valued at about $32,000. Headinvest LLC purchased a new stake in shares of Centene in the third quarter worth approximately $35,000. Finally, Neo Ivy Capital Management acquired a new stake in shares of Centene during the fourth quarter worth approximately $40,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Insider Activity at Centene

In other Centene news, Director Christopher J. Coughlin sold 878 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 25,504 shares in the company, valued at approximately $1,957,432. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 shares were sold at an average price of $77.62, for a total transaction of $620,960.00. Following the completion of the transaction, the president now owns 300,357 shares in the company, valued at $23,313,710.34. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Christopher J. Coughlin sold 878 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $76.75, for a total value of $67,386.50. Following the completion of the sale, the director now owns 25,504 shares in the company, valued at $1,957,432. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CNC shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 target price on shares of Centene in a research report on Wednesday, June 12th. Oppenheimer reissued an “outperform” rating and set a $110.00 price objective on shares of Centene in a research report on Monday, April 29th. Robert W. Baird initiated coverage on Centene in a research report on Thursday, May 30th. They issued a “neutral” rating and a $83.00 target price on the stock. Stephens reissued an “equal weight” rating and issued a $83.00 price target on shares of Centene in a research note on Thursday, May 30th. Finally, StockNews.com raised shares of Centene from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 11th. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.93.

Centene Price Performance

Shares of NYSE:CNC opened at $68.93 on Monday. The company has a market cap of $36.79 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 0.89 and a beta of 0.47. The business has a 50 day moving average price of $73.64 and a 200 day moving average price of $75.38. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.66. Centene Co. has a twelve month low of $60.83 and a twelve month high of $81.42.

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, topping the consensus estimate of $2.09 by $0.17. Centene had a net margin of 1.76% and a return on equity of 14.19%. The business had revenue of $40.41 billion for the quarter, compared to the consensus estimate of $36.43 billion. During the same quarter last year, the company posted $2.11 earnings per share. Centene’s quarterly revenue was up 3.9% on a year-over-year basis. Research analysts predict that Centene Co. will post 6.82 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.