Summit Trail Advisors LLC Cuts Stock Holdings in Centene Co. (NYSE:CNC)

Summit Trail Advisors LLC trimmed its holdings in shares of Centene Co. (NYSE:CNC) by 17.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,368 shares of the company’s stock after selling 894 shares during the period. Summit Trail Advisors LLC’s holdings in Centene were worth $290,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CNC. EP Wealth Advisors LLC raised its stake in shares of Centene by 1.0% during the first quarter. EP Wealth Advisors LLC now owns 13,604 shares of the company’s stock valued at $1,068,000 after acquiring an additional 133 shares during the last quarter. WR Wealth Planners LLC raised its stake in shares of Centene by 41.4% during the second quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock valued at $31,000 after acquiring an additional 137 shares during the last quarter. Whittier Trust Co. raised its stake in shares of Centene by 10.0% during the second quarter. Whittier Trust Co. now owns 1,562 shares of the company’s stock valued at $104,000 after acquiring an additional 142 shares during the last quarter. Fidelis Capital Partners LLC raised its stake in shares of Centene by 5.0% during the first quarter. Fidelis Capital Partners LLC now owns 3,316 shares of the company’s stock valued at $260,000 after acquiring an additional 158 shares during the last quarter. Finally, Checchi Capital Advisers LLC raised its stake in Centene by 4.5% in the first quarter. Checchi Capital Advisers LLC now owns 3,910 shares of the company’s stock worth $307,000 after buying an additional 169 shares in the last quarter. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CNC shares. Stephens reissued an “equal weight” rating and issued a $78.00 price target on shares of Centene in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Jefferies Financial Group downgraded shares of Centene from a “buy” rating to a “hold” rating and decreased their price target for the stock from $83.00 to $69.00 in a research note on Wednesday, July 24th. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price target on shares of Centene in a research note on Friday, September 20th. Finally, Wells Fargo & Company decreased their price target on shares of Centene from $93.00 to $91.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.58.

Centene Stock Performance

CNC opened at $74.42 on Wednesday. The firm has a market cap of $39.71 billion, a P/E ratio of 14.80, a PEG ratio of 0.99 and a beta of 0.48. Centene Co. has a 1-year low of $63.45 and a 1-year high of $81.42. The company has a 50 day simple moving average of $74.78 and a two-hundred day simple moving average of $73.40. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.17 and a quick ratio of 1.17.

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). Centene had a return on equity of 14.45% and a net margin of 1.79%. The company had revenue of $39.84 billion during the quarter, compared to analysts’ expectations of $36.83 billion. During the same period last year, the firm posted $2.10 EPS. Centene’s quarterly revenue was up 5.9% compared to the same quarter last year. Equities analysts forecast that Centene Co. will post 6.82 earnings per share 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.