Geneos Wealth Management Inc. Lowers Holdings in Centene Co. (NYSE:CNC)

Geneos Wealth Management Inc. lowered its position in shares of Centene Co. (NYSE:CNC) by 24.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 910 shares of the company’s stock after selling 302 shares during the period. Geneos Wealth Management Inc.’s holdings in Centene were worth $71,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CNC. Norges Bank bought a new position in shares of Centene during the fourth quarter valued at $1,325,441,000. Harris Associates L P boosted its holdings in shares of Centene by 172.8% during the 4th quarter. Harris Associates L P now owns 10,863,367 shares of the company’s stock valued at $806,170,000 after acquiring an additional 6,881,450 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Centene by 535.9% during the fourth quarter. Jennison Associates LLC now owns 1,837,980 shares of the company’s stock valued at $136,396,000 after purchasing an additional 1,548,961 shares during the last quarter. Canoe Financial LP lifted its position in Centene by 375.1% during the fourth quarter. Canoe Financial LP now owns 1,943,982 shares of the company’s stock valued at $144,263,000 after purchasing an additional 1,534,826 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in Centene by 42.9% in the fourth quarter. California Public Employees Retirement System now owns 2,161,362 shares of the company’s stock worth $160,395,000 after purchasing an additional 648,620 shares during the last quarter. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Centene Price Performance

NYSE:CNC opened at $67.86 on Friday. The stock has a market cap of $36.21 billion, a PE ratio of 13.49, a P/E/G ratio of 0.86 and a beta of 0.50. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.66. The business’s 50-day simple moving average is $70.98 and its two-hundred day simple moving average is $74.33. Centene Co. has a 52 week low of $60.83 and a 52 week high of $81.42.

Centene (NYSE:CNC) last posted its quarterly earnings results on Friday, April 26th. The company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.17. The company had revenue of $40.41 billion for the quarter, compared to analysts’ expectations of $36.43 billion. Centene had a return on equity of 14.19% and a net margin of 1.76%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.11 EPS. As a group, analysts forecast that Centene Co. will post 6.82 EPS for the current fiscal year.

Insider Activity at Centene

In other Centene news, President Kenneth J. Fasola sold 8,000 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $77.62, for a total transaction of $620,960.00. Following the completion of the transaction, the president now owns 300,357 shares of the company’s stock, valued at approximately $23,313,710.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Centene news, Director Christopher J. Coughlin sold 878 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $76.75, for a total transaction of $67,386.50. Following the completion of the transaction, the director now owns 25,504 shares in the company, valued at $1,957,432. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Kenneth J. Fasola sold 8,000 shares of the business’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 completion of the sale, the president now owns 300,357 shares in the company, valued at $23,313,710.34. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CNC has been the topic of several research analyst reports. Stephens reissued an “equal weight” rating and set a $83.00 price target on shares of Centene in a report on Thursday, May 30th. JPMorgan Chase & Co. lowered their target price on Centene from $85.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday. Baird R W upgraded Centene to a “hold” rating in a research note on Thursday, May 30th. StockNews.com raised shares of Centene from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Finally, Wells Fargo & Company upped their target price on shares of Centene from $89.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Eight 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

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.