Montag & Caldwell LLC Has $908,000 Position in Centene Co. (NYSE:CNC)

Montag & Caldwell LLC increased its holdings in shares of Centene Co. (NYSE:CNC) by 3.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,452 shares of the company’s stock after acquiring an additional 438 shares during the period. Montag & Caldwell LLC’s holdings in Centene were worth $908,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Argent Trust Co boosted its position in shares of Centene by 1.1% during the 2nd quarter. Argent Trust Co now owns 14,729 shares of the company’s stock valued at $1,074,000 after acquiring an additional 158 shares in the last quarter. Checchi Capital Advisers LLC lifted its holdings in Centene by 4.0% during the 1st quarter. Checchi Capital Advisers LLC now owns 4,617 shares of the company’s stock valued at $295,000 after purchasing an additional 177 shares during the last quarter. Duncker Streett & Co. Inc. lifted its holdings in Centene by 2.9% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 6,455 shares of the company’s stock valued at $471,000 after purchasing an additional 183 shares during the last quarter. Rikoon Group LLC lifted its holdings in Centene by 2.0% during the 1st quarter. Rikoon Group LLC now owns 9,577 shares of the company’s stock valued at $612,000 after purchasing an additional 186 shares during the last quarter. Finally, High Pointe Capital Management LLC lifted its holdings in Centene by 2.2% during the 1st quarter. High Pointe Capital Management LLC now owns 8,990 shares of the company’s stock valued at $575,000 after purchasing an additional 190 shares during the last quarter. Institutional investors and hedge funds own 91.75% of the company’s stock.

Shares of NYSE:CNC traded down $0.97 during trading on Tuesday, hitting $63.38. 61,882 shares of the company’s stock were exchanged, compared to its average volume of 3,794,874. Centene Co. has a 1-year low of $53.60 and a 1-year high of $75.59. The firm has a 50-day moving average price of $66.40 and a two-hundred day moving average price of $67.37. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.63. The firm has a market cap of $36.95 billion, a P/E ratio of 52.25, a PEG ratio of 1.01 and a beta of 0.46.

Centene (NYSE:CNC) last issued its quarterly earnings data on Monday, July 26th. The company reported $1.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.41 by ($0.16). The firm had revenue of $31.03 billion for the quarter, compared to analyst estimates of $30.11 billion. Centene had a net margin of 0.61% and a return on equity of 10.39%. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.40 EPS. As a group, research analysts predict that Centene Co. will post 5.14 EPS for the current year.

Several equities analysts recently issued reports on CNC shares. Truist Securities lifted their price target on shares of Centene from $80.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, June 17th. TheStreet downgraded shares of Centene from a “b-” rating to a “c+” rating in a report on Monday, August 16th. Seaport Global Securities began coverage on shares of Centene in a research note on Friday, July 9th. They issued a “buy” rating and a $90.00 target price for the company. Mizuho dropped their target price on shares of Centene from $75.00 to $67.00 and set a “neutral” rating for the company in a research note on Wednesday, September 8th. Finally, Credit Suisse Group dropped their target price on shares of Centene from $73.50 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday, September 14th. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $81.89.

In other news, Director Orlando Ayala sold 9,366 shares of the company’s stock in a transaction that occurred on Thursday, July 29th. The shares were sold at an average price of $70.00, for a total value of $655,620.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brent D. Layton sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, July 29th. The shares were sold at an average price of $70.00, for a total transaction of $280,000.00. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.

Centene Company Profile

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: Managed Care and Specialty Services. The Medicaid Managed Care segment provides health plan coverage to individuals through government subsidized programs through Medicaid.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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