HighPoint Advisor Group LLC Takes Position in Centene Co. (NYSE:CNC)

HighPoint Advisor Group LLC purchased a new position in shares of Centene Co. (NYSE:CNC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,725 shares of the company’s stock, valued at approximately $210,000.

Several other large investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its holdings in Centene by 6.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 79,498 shares of the company’s stock worth $5,900,000 after buying an additional 4,618 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in Centene by 9.6% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 4,854 shares of the company’s stock valued at $360,000 after purchasing an additional 427 shares during the last quarter. Alamar Capital Management LLC grew its stake in Centene by 1.7% during the 4th quarter. Alamar Capital Management LLC now owns 53,473 shares of the company’s stock valued at $3,968,000 after purchasing an additional 904 shares in the last quarter. Pineridge Advisors LLC purchased a new stake in Centene during the 4th quarter worth approximately $78,000. Finally, Syon Capital LLC purchased a new position in shares of Centene during the 4th quarter valued at approximately $227,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Performance

Shares of NYSE CNC opened at $67.93 on Friday. Centene Co. has a 12-month low of $60.83 and a 12-month high of $81.42. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.66. The company has a market cap of $36.25 billion, a PE ratio of 13.50, a P/E/G ratio of 0.87 and a beta of 0.47. The stock has a 50 day simple moving average of $73.16 and a 200-day simple moving average of $75.12.

Centene (NYSE:CNC) last released its quarterly earnings results 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. The company had revenue of $40.41 billion during 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 quarter in the prior year, the business posted $2.11 earnings per share. On average, equities research analysts forecast that Centene Co. will post 6.82 EPS for the current year.

Insiders Place Their Bets

In related news, President Kenneth J. Fasola sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were 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 in the company, valued at $23,313,710.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, 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 transaction of $67,386.50. Following the completion of the transaction, the director now owns 25,504 shares of the company’s stock, valued at $1,957,432. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Kenneth J. Fasola sold 8,000 shares of the business’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 completion of the sale, the president now owns 300,357 shares in the company, valued at $23,313,710.34. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CNC has been the topic of a number of research analyst reports. Stephens reiterated an “equal weight” rating and set a $83.00 price objective on shares of Centene in a research note on Thursday, May 30th. StockNews.com raised Centene from a “buy” rating to a “strong-buy” rating in a report on Friday. Barclays lifted their target price on Centene from $101.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Robert W. Baird began coverage on Centene in a research report on Thursday, May 30th. They set a “neutral” rating and a $83.00 price target on the stock. Finally, Baird R W raised shares of Centene to a “hold” rating in a report on Thursday, May 30th. Eight 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. Based on data from MarketBeat, Centene has an average rating of “Moderate Buy” and an average price target of $84.93.

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.