OLD National Bancorp IN Sells 4,042 Shares of Centene Co. (NYSE:CNC)

OLD National Bancorp IN trimmed its holdings in Centene Co. (NYSE:CNC - Free Report) by 52.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,629 shares of the company's stock after selling 4,042 shares during the period. OLD National Bancorp IN's holdings in Centene were worth $220,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CNC. Perpetual Ltd lifted its stake in Centene by 68.4% in the 4th quarter. Perpetual Ltd now owns 36,126 shares of the company's stock worth $2,189,000 after purchasing an additional 14,671 shares in the last quarter. Polianta Ltd raised its position in shares of Centene by 41.7% in the fourth quarter. Polianta Ltd now owns 22,100 shares of the company's stock worth $1,338,000 after buying an additional 6,500 shares in the last quarter. Vantage Investment Partners LLC grew its position in Centene by 17.1% during the third quarter. Vantage Investment Partners LLC now owns 683,817 shares of the company's stock worth $51,478,000 after buying an additional 99,904 shares in the last quarter. KBC Group NV increased its stake in Centene by 27.3% in the 4th quarter. KBC Group NV now owns 1,602,533 shares of the company's stock worth $97,082,000 after acquiring an additional 343,559 shares during the last quarter. Finally, Washington Capital Management Inc. raised its holdings in shares of Centene by 40.9% in the 4th quarter. Washington Capital Management Inc. now owns 19,130 shares of the company's stock valued at $1,159,000 after acquiring an additional 5,550 shares in the last quarter. Hedge funds and other institutional investors own 93.63% of the company's stock.

Centene Trading Down 3.7 %

Shares of Centene stock traded down $2.22 during trading on Thursday, reaching $58.51. 7,311,876 shares of the stock were exchanged, compared to its average volume of 4,477,949. Centene Co. has a 1 year low of $55.03 and a 1 year high of $81.42. The firm has a market cap of $29.54 billion, a price-to-earnings ratio of 10.16, a price-to-earnings-growth ratio of 0.85 and a beta of 0.45. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64. The stock's fifty day moving average is $61.28 and its 200 day moving average is $67.06.

Centene (NYSE:CNC - Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.31. The firm had revenue of $40.81 billion for the quarter, compared to analysts' expectations of $38.78 billion. Centene had a return on equity of 13.32% and a net margin of 1.90%. The business's revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.45 earnings per share. As a group, equities research analysts expect that Centene Co. will post 6.82 earnings per share for the current fiscal year.

Insider Transactions at Centene

In other news, Director Thomas Greco purchased 17,000 shares of Centene stock in a transaction that occurred on Wednesday, December 18th. The shares were bought at an average cost of $59.75 per share, with a total value of $1,015,750.00. Following the completion of the purchase, the director now directly owns 19,309 shares in the company, valued at approximately $1,153,712.75. This trade represents a 736.25 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sarah London acquired 4,117 shares of the stock in a transaction on Friday, November 8th. The shares were purchased at an average cost of $60.80 per share, with a total value of $250,313.60. Following the transaction, the chief executive officer now directly owns 667,229 shares of the company's stock, valued at approximately $40,567,523.20. This trade represents a 0.62 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 45,010 shares of company stock valued at $2,660,276. Company insiders own 0.29% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CNC. Truist Financial lowered their target price on shares of Centene from $89.00 to $84.00 and set a "buy" rating on the stock in a research note on Friday, December 13th. UBS Group upgraded Centene from a "neutral" rating to a "buy" rating and raised their price target for the company from $79.00 to $80.00 in a research report on Friday, December 13th. Jefferies Financial Group lowered Centene from a "hold" rating to an "underperform" rating and reduced their price objective for the company from $68.00 to $52.00 in a research report on Tuesday, December 10th. Robert W. Baird boosted their target price on Centene from $66.00 to $71.00 in a research report on Tuesday. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating and set a $75.00 price target (down from $80.00) on shares of Centene in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Centene has a consensus rating of "Moderate Buy" and an average target price of $81.31.

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.