Centene Corporation $CNC Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC reduced its holdings in Centene Corporation (NYSE:CNC) by 3.1% during the 2nd quarter, Holdings Channel reports. The fund owned 191,078 shares of the company’s stock after selling 6,043 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Centene were worth $10,372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CNC. Quarry LP bought a new position in Centene during the 1st quarter valued at $26,000. Golden State Wealth Management LLC lifted its holdings in shares of Centene by 203.1% in the first quarter. Golden State Wealth Management LLC now owns 579 shares of the company’s stock valued at $35,000 after purchasing an additional 388 shares in the last quarter. Trust Co. of Toledo NA OH purchased a new stake in shares of Centene during the second quarter worth $77,000. Geneos Wealth Management Inc. raised its holdings in shares of Centene by 78.1% during the first quarter. Geneos Wealth Management Inc. now owns 1,462 shares of the company’s stock worth $89,000 after acquiring an additional 641 shares in the last quarter. Finally, OFI Invest Asset Management raised its holdings in shares of Centene by 44.9% during the second quarter. OFI Invest Asset Management now owns 1,700 shares of the company’s stock worth $92,000 after acquiring an additional 527 shares in the last quarter. 93.63% of the stock is owned by institutional investors.

Insider Transactions at Centene

In other news, CEO Sarah London acquired 19,230 shares of Centene stock in a transaction on Friday, August 8th. The shares were purchased at an average price of $25.50 per share, with a total value of $490,365.00. Following the acquisition, the chief executive officer owned 845,275 shares in the company, valued at $21,554,512.50. This represents a 2.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.36% of the company’s stock.

Centene Stock Down 3.0%

Shares of CNC opened at $33.06 on Tuesday. The business’s 50 day simple moving average is $33.09 and its 200-day simple moving average is $42.35. Centene Corporation has a one year low of $25.08 and a one year high of $66.81. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market capitalization of $16.24 billion, a P/E ratio of 8.18, a PEG ratio of 1.34 and a beta of 0.48.

Centene (NYSE:CNC) last posted its quarterly earnings data on Friday, July 25th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.39). Centene had a return on equity of 9.57% and a net margin of 1.15%.The firm had revenue of $48.74 billion for the quarter, compared to analyst estimates of $44.71 billion. During the same period in the prior year, the company posted $2.42 EPS. The firm’s quarterly revenue was up 22.4% compared to the same quarter last year. As a group, sell-side analysts predict that Centene Corporation will post 6.86 EPS for the current fiscal year.

Analysts Set New Price Targets

CNC has been the topic of several recent research reports. Bank of America lowered Centene from a “neutral” rating to an “underperform” rating and cut their target price for the company from $52.00 to $30.00 in a report on Wednesday, July 16th. Robert W. Baird decreased their target price on Centene from $68.00 to $28.00 and set a “neutral” rating on the stock in a research report on Friday, July 25th. Sanford C. Bernstein lowered their price objective on Centene from $40.00 to $36.00 and set an “outperform” rating on the stock in a research note on Friday, September 5th. Mizuho lifted their price target on shares of Centene from $28.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Finally, JPMorgan Chase & Co. cut their price target on shares of Centene from $48.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, July 29th. Three equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $39.50.

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.