OLD National Bancorp IN Sells 3,461 Shares of Centene Co. (NYSE:CNC)

OLD National Bancorp IN reduced its holdings in shares of Centene Co. (NYSE:CNC) by 22.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,971 shares of the company’s stock after selling 3,461 shares during the quarter. OLD National Bancorp IN’s holdings in Centene were worth $888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CNC. Operose Advisors LLC bought a new position in shares of Centene during the third quarter valued at $25,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Centene during the fourth quarter valued at $25,000. OFI Invest Asset Management bought a new position in shares of Centene during the third quarter valued at $26,000. Riggs Asset Managment Co. Inc. bought a new position in shares of Centene during the fourth quarter valued at $32,000. Finally, Headinvest LLC bought a new position in shares of Centene during the third quarter valued at $35,000. 93.63% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Lori Jean Robinson sold 10,000 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $77.41, for a total transaction of $774,100.00. Following the completion of the sale, the director now owns 11,455 shares in the company, valued at $886,731.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, President Kenneth J. Fasola sold 12,000 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $75.07, for a total transaction of $900,840.00. Following the completion of the transaction, the president now directly owns 235,365 shares of the company’s stock, valued at $17,668,850.55. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Lori Jean Robinson sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $77.41, for a total value of $774,100.00. Following the transaction, the director now directly owns 11,455 shares of the company’s stock, valued at $886,731.55. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CNC has been the topic of a number of recent research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 target price on shares of Centene in a report on Thursday, April 4th. Stephens reissued an “equal weight” rating and issued a $85.00 target price (down previously from $92.00) on shares of Centene in a report on Thursday, March 21st. Wells Fargo & Company increased their target price on Centene from $89.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, April 15th. StockNews.com downgraded Centene from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 28th. Finally, Barclays initiated coverage on Centene in a report on Wednesday, March 6th. They issued an “overweight” rating and a $101.00 target price on the stock. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $85.38.

Centene Stock Performance

NYSE:CNC opened at $75.84 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.68. Centene Co. has a 12-month low of $60.83 and a 12-month high of $81.42. The stock has a 50-day moving average price of $76.50 and a 200 day moving average price of $74.74. The stock has a market capitalization of $40.57 billion, a P/E ratio of 15.45, a P/E/G ratio of 0.93 and a beta of 0.38.

Centene (NYSE:CNC) last released its earnings results on Tuesday, February 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. Centene had a return on equity of 14.26% and a net margin of 1.75%. The firm had revenue of $39.46 billion during the quarter, compared to analysts’ expectations of $36.16 billion. During the same quarter last year, the business posted $0.86 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. Equities research analysts forecast that Centene Co. will post 6.75 EPS for the current fiscal year.

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. 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.