Resources Investment Advisors LLC. Sells 764 Shares of Centene Co. (NYSE:CNC)

Posted by on Apr 23rd, 2023

Resources Investment Advisors LLC. decreased its holdings in Centene Co. (NYSE:CNC – Get Rating) by 17.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,669 shares of the company’s stock after selling 764 shares during the period. Resources Investment Advisors LLC.’s holdings in Centene were worth $301,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. lifted its stake in Centene by 5,700.0% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 348 shares of the company’s stock worth $29,000 after purchasing an additional 342 shares during the last quarter. James Investment Research Inc. bought a new stake in Centene in the third quarter worth about $51,000. Covestor Ltd lifted its stake in Centene by 24.1% in the first quarter. Covestor Ltd now owns 856 shares of the company’s stock worth $72,000 after purchasing an additional 166 shares during the last quarter. Guardian Wealth Advisors LLC bought a new stake in Centene in the third quarter worth about $71,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of Centene by 106.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,165 shares of the company’s stock valued at $96,000 after acquiring an additional 602 shares in the last quarter. Institutional investors own 93.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CNC shares. Barclays decreased their price target on shares of Centene from $93.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, April 11th. Wells Fargo & Company decreased their price target on shares of Centene from $79.00 to $71.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 21st. Loop Capital decreased their price target on shares of Centene from $110.00 to $95.00 in a research note on Wednesday, February 8th. JPMorgan Chase & Co. downgraded shares of Centene from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $94.00 to $90.00 in a research note on Thursday, February 23rd. Finally, StockNews.com lowered shares of Centene from a “strong-buy” rating to a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Centene currently has an average rating of “Moderate Buy” and a consensus price target of $94.42.

Insider Transactions at Centene

In other Centene news, CEO Sarah London bought 30,000 shares of the firm’s stock in a transaction that occurred on Friday, March 17th. The stock was bought at an average cost of $62.60 per share, for a total transaction of $1,878,000.00. Following the completion of the transaction, the chief executive officer now directly owns 313,953 shares of the company’s stock, valued at approximately $19,653,457.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Centene news, CEO Sarah London bought 30,000 shares of the firm’s stock in a transaction that occurred on Friday, March 17th. The stock was bought at an average cost of $62.60 per share, for a total transaction of $1,878,000.00. Following the completion of the transaction, the chief executive officer now directly owns 313,953 shares of the company’s stock, valued at approximately $19,653,457.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO James E. Murray bought 6,750 shares of the firm’s stock in a transaction that occurred on Wednesday, February 8th. The shares were acquired at an average price of $73.30 per share, with a total value of $494,775.00. Following the completion of the transaction, the chief operating officer now directly owns 136,220 shares of the company’s stock, valued at $9,984,926. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 46,750 shares of company stock worth $3,091,605. Company insiders own 0.28% of the company’s stock.

Centene Trading Up 0.2 %

NYSE:CNC opened at $65.99 on Friday. Centene Co. has a 12 month low of $61.71 and a 12 month high of $98.53. The firm has a fifty day simple moving average of $67.23 and a 200-day simple moving average of $75.42. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $36.34 billion, a P/E ratio of 32.35, a PEG ratio of 0.77 and a beta of 0.56.

Centene (NYSE:CNC – Get Rating) last posted its quarterly earnings data on Tuesday, February 7th. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.01). Centene had a return on equity of 12.98% and a net margin of 0.83%. The company had revenue of $35.56 billion for the quarter, compared to analyst estimates of $35.37 billion. During the same quarter in the previous year, the firm posted $1.01 earnings per share. The company’s quarterly revenue was up 9.2% on a year-over-year basis. On average, equities research analysts anticipate that Centene Co. will post 6.33 earnings per share for the current year.

Centene Company Profile

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Centene Corp. operates as a healthcare enterprise, which engages in the provision of programs and services to government sponsored healthcare programs. It operates through the following segments: Medicaid, Medicare, Commercial, and Other. The company was founded in 1984 and is headquartered in St. Louis, MO.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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