Centene Co. (NYSE:CNC) Shares Sold by Westbourne Investment Advisors Inc.

Westbourne Investment Advisors Inc. lessened its holdings in Centene Co. (NYSE:CNC) by 2.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,963 shares of the company’s stock after selling 1,504 shares during the quarter. Centene makes up about 2.0% of Westbourne Investment Advisors Inc.’s holdings, making the stock its 19th largest position. Westbourne Investment Advisors Inc.’s holdings in Centene were worth $5,044,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Signaturefd LLC raised its position in shares of Centene by 1.5% during the 3rd quarter. Signaturefd LLC now owns 10,456 shares of the company’s stock worth $720,000 after acquiring an additional 158 shares in the last quarter. First Bank & Trust raised its holdings in Centene by 4.1% during the fourth quarter. First Bank & Trust now owns 4,154 shares of the company’s stock worth $308,000 after purchasing an additional 162 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Centene by 24.1% in the 1st quarter. Covestor Ltd now owns 856 shares of the company’s stock valued at $72,000 after buying an additional 166 shares in the last quarter. Vicus Capital grew its position in shares of Centene by 5.3% in the 4th quarter. Vicus Capital now owns 3,309 shares of the company’s stock valued at $271,000 after buying an additional 168 shares during the last quarter. Finally, First Hawaiian Bank raised its stake in Centene by 0.8% during the 3rd quarter. First Hawaiian Bank now owns 21,218 shares of the company’s stock worth $1,461,000 after acquiring an additional 177 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Stock Performance

NYSE CNC traded up $0.15 during trading hours on Thursday, hitting $78.50. 724,661 shares of the stock were exchanged, compared to its average volume of 2,960,979. Centene Co. has a 12-month low of $60.83 and a 12-month high of $81.42. The stock has a 50-day moving average of $77.07 and a 200 day moving average of $73.98. The company has a market cap of $41.99 billion, a price-to-earnings ratio of 15.96, a price-to-earnings-growth ratio of 0.96 and a beta of 0.38. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.68.

Centene (NYSE:CNC) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02. The business had revenue of $39.46 billion during the quarter, compared to analysts’ expectations of $36.16 billion. Centene had a return on equity of 14.26% and a net margin of 1.75%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the firm earned $0.86 EPS. As a group, equities research analysts forecast that Centene Co. will post 6.75 earnings per share for the current year.

Insider Transactions at Centene

In other Centene news, Director Lori Jean Robinson sold 10,000 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $77.41, for a total value of $774,100.00. Following the completion of the transaction, the director now directly owns 11,455 shares of the company’s stock, valued at $886,731.55. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, President Kenneth J. Fasola sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $75.07, for a total transaction of $900,840.00. Following the completion of the transaction, the president now directly owns 235,365 shares of the company’s stock, valued at approximately $17,668,850.55. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lori Jean Robinson sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $77.41, for a total value of $774,100.00. Following the completion of the sale, the director now directly owns 11,455 shares in the company, valued at approximately $886,731.55. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CNC shares. Cantor Fitzgerald raised their price objective on Centene from $82.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, December 15th. Barclays started coverage on Centene in a research report on Wednesday, March 6th. They set an “overweight” rating and a $101.00 price target on the stock. UBS Group increased their price objective on Centene from $72.00 to $79.00 and gave the company a “neutral” rating in a report on Thursday, December 21st. Wells Fargo & Company lifted their target price on shares of Centene from $90.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Finally, Truist Financial increased their price target on shares of Centene from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, December 21st. Five equities research 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 MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.46.

Centene 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.