Moody National Bank Trust Division Sells 2,060 Shares of Centene Co. (NYSE:CNC)

Moody National Bank Trust Division lowered its position in shares of Centene Co. (NYSE:CNCGet Rating) by 11.3% during the first quarter, Holdings Channel.com reports. The firm owned 16,136 shares of the company’s stock after selling 2,060 shares during the quarter. Moody National Bank Trust Division’s holdings in Centene were worth $1,358,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CNC. Norges Bank bought a new position in shares of Centene during the fourth quarter worth approximately $470,456,000. Capital World Investors increased its stake in shares of Centene by 8.6% during the fourth quarter. Capital World Investors now owns 46,851,859 shares of the company’s stock worth $3,860,593,000 after purchasing an additional 3,717,875 shares during the period. Rockefeller Capital Management L.P. increased its stake in shares of Centene by 8,192.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,640,417 shares of the company’s stock worth $135,169,000 after purchasing an additional 1,620,635 shares during the period. Invesco Ltd. increased its stake in shares of Centene by 38.1% during the fourth quarter. Invesco Ltd. now owns 5,798,904 shares of the company’s stock worth $477,829,000 after purchasing an additional 1,599,740 shares during the period. Finally, Boston Partners increased its stake in Centene by 13.8% during the 4th quarter. Boston Partners now owns 10,838,200 shares of the company’s stock worth $892,241,000 after acquiring an additional 1,317,451 shares during the period. Institutional investors own 92.32% of the company’s stock.

In other news, EVP Shannon Bagley sold 8,000 shares of the business’s stock in a transaction dated Friday, April 29th. The stock was sold at an average price of $80.99, for a total value of $647,920.00. Following the transaction, the executive vice president now directly owns 128,353 shares of the company’s stock, valued at approximately $10,395,309.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Theodore R. Samuels II acquired 6,270 shares of the company’s stock in a transaction dated Thursday, April 28th. The stock was acquired at an average cost of $80.94 per share, for a total transaction of $507,493.80. Following the completion of the purchase, the director now directly owns 11,000 shares in the company, valued at $890,340. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by insiders.

A number of equities analysts have commented on CNC shares. Loop Capital started coverage on Centene in a research note on Thursday, June 16th. They set a “buy” rating and a $100.00 price objective on the stock. StockNews.com began coverage on Centene in a research note on Thursday, March 31st. They set a “strong-buy” rating on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on Centene from $88.00 to $91.00 in a research note on Wednesday. Credit Suisse Group upgraded Centene from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $86.00 to $88.00 in a research note on Tuesday. Finally, Sanford C. Bernstein began coverage on Centene in a research note on Thursday, May 26th. They issued an “outperform” rating and a $108.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $92.78.

Shares of CNC opened at $81.87 on Thursday. The company has a market capitalization of $47.88 billion, a PE ratio of 32.49, a PEG ratio of 1.01 and a beta of 0.52. Centene Co. has a 12 month low of $59.67 and a 12 month high of $89.92. The stock’s 50-day moving average price is $82.28 and its two-hundred day moving average price is $82.27. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.68.

Centene (NYSE:CNCGet Rating) last announced its earnings results on Tuesday, April 26th. The company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.68 by $0.15. The firm had revenue of $37.19 billion for the quarter, compared to the consensus estimate of $34.48 billion. Centene had a return on equity of 11.82% and a net margin of 1.12%. The business’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.63 EPS. Equities research analysts predict that Centene Co. will post 5.63 EPS for the current fiscal year.

Centene declared that its Board of Directors has initiated a share repurchase plan on Friday, June 17th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 6.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

About Centene (Get Rating)

Centene Corporation operates as a multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. Its Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which cover dually eligible individuals, as well as aged, blind, or disabled programs.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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