Centene Corp (NYSE:CNC) Position Lessened by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust decreased its stake in Centene Corp (NYSE:CNC) by 6.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,844 shares of the company’s stock after selling 1,403 shares during the period. Parkside Financial Bank & Trust’s holdings in Centene were worth $815,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Private Trust Co. NA raised its stake in Centene by 16.2% during the 2nd quarter. Private Trust Co. NA now owns 10,045 shares of the company’s stock valued at $526,000 after acquiring an additional 1,397 shares in the last quarter. Anderson Hoagland & Co. raised its stake in Centene by 252.5% during the 2nd quarter. Anderson Hoagland & Co. now owns 41,621 shares of the company’s stock valued at $2,404,000 after acquiring an additional 29,813 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in Centene by 4.2% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 44,340 shares of the company’s stock valued at $2,325,000 after acquiring an additional 1,795 shares in the last quarter. Supplemental Annuity Collective Trust of NJ raised its stake in Centene by 13.3% during the 2nd quarter. Supplemental Annuity Collective Trust of NJ now owns 17,000 shares of the company’s stock valued at $891,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Scout Investments Inc. raised its stake in Centene by 471.1% during the 2nd quarter. Scout Investments Inc. now owns 1,390,635 shares of the company’s stock valued at $72,925,000 after acquiring an additional 1,147,152 shares in the last quarter. 96.72% of the stock is currently owned by institutional investors and hedge funds.

Shares of CNC stock traded up $1.97 during mid-day trading on Friday, hitting $55.06. 6,584,711 shares of the stock traded hands, compared to its average volume of 5,980,012. Centene Corp has a twelve month low of $41.62 and a twelve month high of $74.49. The firm has a market cap of $21.45 billion, a price-to-earnings ratio of 15.55, a price-to-earnings-growth ratio of 0.83 and a beta of 0.87. The company’s 50-day simple moving average is $46.87 and its 200-day simple moving average is $50.44. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01.

Centene (NYSE:CNC) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.01. Centene had a return on equity of 15.54% and a net margin of 1.87%. The company had revenue of $18.98 billion for the quarter, compared to analysts’ expectations of $18.39 billion. During the same period last year, the firm earned $1.79 EPS. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. Analysts forecast that Centene Corp will post 4.42 earnings per share for the current year.

Several analysts have weighed in on CNC shares. Credit Suisse Group cut their target price on Centene from $63.00 to $57.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Morgan Stanley cut their target price on Centene from $64.00 to $62.00 and set an “overweight” rating on the stock in a research note on Thursday, September 26th. Deutsche Bank cut their target price on Centene from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Zacks Investment Research downgraded Centene from a “hold” rating to a “sell” rating and set a $50.00 target price on the stock. in a research note on Friday, October 18th. Finally, ValuEngine raised Centene from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. Centene currently has an average rating of “Buy” and a consensus price target of $70.05.

In related news, Director Robert K. Ditmore sold 49,019 shares of Centene stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $50.01, for a total value of $2,451,440.19. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.50% of the company’s stock.

Centene Company Profile

Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. The company's 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 covers 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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