Summit Trail Advisors LLC Sells 208 Shares of Centene Co. (NYSE:CNC)

Summit Trail Advisors LLC trimmed its position in shares of Centene Co. (NYSE:CNC) by 4.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,600 shares of the company’s stock after selling 208 shares during the period. Summit Trail Advisors LLC’s holdings in Centene were worth $341,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Operose Advisors LLC acquired a new stake in Centene during the 3rd quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new position in Centene during the fourth quarter worth $25,000. OFI Invest Asset Management bought a new stake in Centene during the third quarter valued at $26,000. Riggs Asset Managment Co. Inc. acquired a new stake in Centene during the 4th quarter worth about $32,000. Finally, Headinvest LLC bought a new position in shares of Centene in the 3rd quarter worth about $35,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Insider Transactions at Centene

In other Centene news, Director Lori Jean Robinson sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $77.41, for a total transaction of $774,100.00. Following the completion of the transaction, the director now owns 11,455 shares of the company’s stock, valued at $886,731.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.33% of the company’s stock.

Centene Stock Up 1.0 %

Shares of CNC opened at $75.90 on Wednesday. Centene Co. has a 12-month low of $60.83 and a 12-month high of $81.42. The business’s 50 day moving average is $75.55 and its 200 day moving average is $74.95. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $40.50 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 0.96 and a beta of 0.41.

Centene (NYSE:CNC) last released its quarterly earnings data on Friday, April 26th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.09 by $0.17. The business had revenue of $40.41 billion during the quarter, compared to analyst estimates of $36.43 billion. Centene had a net margin of 1.76% and a return on equity of 14.19%. Centene’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.11 earnings per share. Research analysts expect that Centene Co. will post 6.82 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CNC shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 target price on shares of Centene in a report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Centene from $81.00 to $82.00 and gave the company a “hold” rating in a research note on Tuesday, April 30th. Wells Fargo & Company raised their target price on Centene from $89.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Stephens reissued an “equal weight” rating and issued a $85.00 price objective (down previously from $92.00) on shares of Centene in a research note on Thursday, March 21st. Finally, Barclays raised their price target on shares of Centene from $101.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Centene currently has an average rating of “Moderate Buy” and a consensus target price of $85.23.

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.