Amalgamated Bank Sells 2,984 Shares of Centene Co. (NYSE:CNC)

Amalgamated Bank lessened its stake in shares of Centene Co. (NYSE:CNC) by 2.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 107,845 shares of the company’s stock after selling 2,984 shares during the period. Amalgamated Bank’s holdings in Centene were worth $7,150,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CNC. Rise Advisors LLC purchased a new stake in shares of Centene in the first quarter worth about $25,000. WR Wealth Planners LLC raised its holdings in shares of Centene by 41.4% in the second quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock worth $31,000 after buying an additional 137 shares during the period. Chris Bulman Inc purchased a new position in Centene during the 2nd quarter worth $33,000. Riverview Trust Co increased its holdings in Centene by 154.6% during the 2nd quarter. Riverview Trust Co now owns 527 shares of the company’s stock worth $35,000 after purchasing an additional 320 shares during the period. Finally, Neo Ivy Capital Management purchased a new position in Centene during the 4th quarter worth $40,000. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CNC. Robert W. Baird started coverage on Centene in a research report on Thursday, May 30th. They set a “neutral” rating and a $83.00 target price on the stock. StockNews.com raised Centene from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Truist Financial lowered their price target on Centene from $92.00 to $89.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Oppenheimer reduced their price objective on Centene from $110.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, July 29th. Finally, Stephens reiterated an “equal weight” rating and set a $78.00 price target on shares of Centene in a research report on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $85.58.

Centene Stock Down 0.9 %

Centene stock opened at $75.63 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market capitalization of $40.36 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 0.99 and a beta of 0.48. Centene Co. has a fifty-two week low of $63.45 and a fifty-two week high of $81.42. The stock’s fifty day moving average is $74.33 and its two-hundred day moving average is $73.53.

Centene (NYSE:CNC) last posted its quarterly earnings data on Friday, July 26th. The company reported $2.42 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). Centene had a net margin of 1.79% and a return on equity of 14.45%. The company had revenue of $39.84 billion for the quarter, compared to analyst estimates of $36.83 billion. During the same period in the previous year, the business earned $2.10 EPS. The firm’s revenue was up 5.9% on a year-over-year basis. Analysts predict that Centene Co. will post 6.82 EPS for the current fiscal 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.