Centene Co. (NYSE:CNC) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC cut its holdings in shares of Centene Co. (NYSE:CNC) by 0.8% during the first quarter, Holdings Channel.com reports. The fund owned 295,941 shares of the company’s stock after selling 2,468 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Centene were worth $23,225,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Rise Advisors LLC purchased a new stake in shares of Centene in the first quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in Centene during the fourth quarter valued at $25,000. Riggs Asset Managment Co. Inc. acquired a new stake in shares of Centene in the fourth quarter valued at about $32,000. Headinvest LLC acquired a new stake in Centene in the 3rd quarter worth about $35,000. Finally, Neo Ivy Capital Management purchased a new stake in shares of Centene during the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Insider Activity at Centene

In other Centene news, President Kenneth J. Fasola sold 8,000 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $77.62, for a total transaction of $620,960.00. Following the transaction, the president now owns 300,357 shares of the company’s stock, valued at $23,313,710.34. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Christopher J. Coughlin sold 878 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $76.75, for a total transaction of $67,386.50. Following the transaction, the director now owns 25,504 shares of the company’s stock, valued at $1,957,432. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Kenneth J. Fasola sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $77.62, for a total value of $620,960.00. Following the sale, the president now directly owns 300,357 shares of the company’s stock, valued at $23,313,710.34. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Stephens restated an “equal weight” rating and set a $83.00 price target on shares of Centene in a research report on Thursday, May 30th. Robert W. Baird assumed coverage on Centene in a report on Thursday, May 30th. They issued a “neutral” rating and a $83.00 target price for the company. JPMorgan Chase & Co. lowered their price target on shares of Centene from $85.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday. StockNews.com upgraded shares of Centene from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 target price on shares of Centene in a report on Wednesday, June 12th. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $85.14.

Centene Stock Up 1.0 %

Shares of CNC traded up $0.66 during midday trading on Thursday, hitting $67.32. The company had a trading volume of 275,749 shares, compared to its average volume of 3,328,502. The company’s 50-day simple moving average is $71.26 and its 200-day simple moving average is $74.42. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.17 and a current ratio of 1.17. Centene Co. has a 1 year low of $60.83 and a 1 year high of $81.42. The firm has a market capitalization of $35.93 billion, a P/E ratio of 13.25, a P/E/G ratio of 0.85 and a beta of 0.50.

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

About Centene

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.