Dupont Capital Management Corp decreased its holdings in shares of Centene Co. (NYSE:CNC – Free Report) by 35.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,196 shares of the company’s stock after selling 1,200 shares during the period. Dupont Capital Management Corp’s holdings in Centene were worth $139,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Coppell Advisory Solutions Corp. purchased a new position in shares of Centene during the 4th quarter worth approximately $25,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Centene by 5,700.0% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 348 shares of the company’s stock worth $29,000 after acquiring an additional 342 shares during the period. Arlington Partners LLC purchased a new position in shares of Centene during the 1st quarter worth approximately $35,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Centene during the 4th quarter worth approximately $41,000. Finally, Resurgent Financial Advisors LLC purchased a new position in shares of Centene during the 4th quarter worth approximately $62,000. Institutional investors own 90.11% of the company’s stock.
Insider Buying and Selling
In related news, Director Lori Jean Robinson sold 1,400 shares of the firm’s stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $66.59, for a total value of $93,226.00. Following the transaction, the director now directly owns 8,508 shares of the company’s stock, valued at approximately $566,547.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.33% of the stock is owned by insiders.
Centene Price Performance
Centene (NYSE:CNC – Get Free Report) last announced its earnings results on Tuesday, April 25th. The company reported $2.11 EPS for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.12). Centene had a return on equity of 13.61% and a net margin of 1.01%. The company had revenue of $38.89 billion during the quarter, compared to the consensus estimate of $36.09 billion. During the same period in the prior year, the business posted $1.83 earnings per share. Centene’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, equities analysts predict that Centene Co. will post 6.43 earnings per share for the current year.
Analyst Upgrades and Downgrades
CNC has been the topic of several recent research reports. Cantor Fitzgerald initiated coverage on Centene in a research note on Thursday, April 20th. They issued an “overweight” rating and a $80.00 price target on the stock. Credit Suisse Group cut their price target on Centene from $94.00 to $87.00 in a research note on Wednesday, April 26th. Wolfe Research downgraded Centene from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, July 12th. Truist Financial cut their price target on Centene from $88.00 to $83.00 in a research note on Tuesday, June 20th. Finally, Morgan Stanley restated an “overweight” rating and issued a $94.00 price target on shares of Centene in a research note on Friday, July 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Centene currently has an average rating of “Moderate Buy” and a consensus price target of $86.28.
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. It operates in two segments, Managed Care and Specialty Services. The 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 cover dually eligible individuals, as well as aged, blind, or disabled programs.
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