Hotchkis & Wiley Capital Management LLC Sells 31,440 Shares of Centene Co. (NYSE:CNC)

Hotchkis & Wiley Capital Management LLC trimmed its holdings in Centene Co. (NYSE:CNCFree Report) by 1.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,771,525 shares of the company’s stock after selling 31,440 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 0.52% of Centene worth $205,675,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CNC. Van ECK Associates Corp increased its stake in shares of Centene by 9.6% in the third quarter. Van ECK Associates Corp now owns 9,099 shares of the company’s stock worth $627,000 after buying an additional 795 shares during the period. Pathstone Family Office LLC increased its stake in shares of Centene by 154.8% in the third quarter. Pathstone Family Office LLC now owns 15,451 shares of the company’s stock worth $1,066,000 after buying an additional 9,386 shares during the period. HighTower Advisors LLC increased its stake in shares of Centene by 1.7% in the third quarter. HighTower Advisors LLC now owns 213,831 shares of the company’s stock worth $14,689,000 after buying an additional 3,584 shares during the period. Campbell & CO Investment Adviser LLC increased its stake in shares of Centene by 30.4% in the third quarter. Campbell & CO Investment Adviser LLC now owns 6,527 shares of the company’s stock worth $450,000 after buying an additional 1,520 shares during the period. Finally, Aptus Capital Advisors LLC purchased a new position in shares of Centene in the third quarter worth $215,000. 93.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Barclays boosted their price objective on shares of Centene from $101.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Robert W. Baird assumed coverage on shares of Centene in a research report on Thursday, May 30th. They set a “neutral” rating and a $83.00 price objective on the stock. Baird R W raised shares of Centene to a “hold” rating in a research report on Thursday, May 30th. Stephens reissued an “equal weight” rating and set a $83.00 price objective on shares of Centene in a research report on Thursday, May 30th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Centene from $81.00 to $82.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $84.93.

Check Out Our Latest Research Report on Centene

Insider Buying and Selling at Centene

In other news, President Kenneth J. Fasola sold 8,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $77.62, for a total transaction of $620,960.00. Following the completion of the sale, the president now owns 300,357 shares of the company’s stock, valued at approximately $23,313,710.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, President Kenneth J. Fasola sold 8,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $77.62, for a total transaction of $620,960.00. Following the completion of the sale, the president now owns 300,357 shares of the company’s stock, valued at approximately $23,313,710.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher J. Coughlin sold 878 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $76.75, for a total transaction of $67,386.50. Following the sale, the director now directly owns 25,504 shares of the company’s stock, valued at approximately $1,957,432. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Centene Stock Performance

CNC traded down $1.04 during midday trading on Tuesday, hitting $68.80. 280,849 shares of the company traded hands, compared to its average volume of 3,226,742. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $36.72 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 0.90 and a beta of 0.47. The company’s 50-day moving average is $73.95 and its 200 day moving average is $75.50. Centene Co. has a 52 week low of $60.83 and a 52 week high of $81.42.

Centene (NYSE:CNCGet Free Report) last posted its earnings results on Friday, April 26th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.17. The business had revenue of $40.41 billion for the quarter, compared to analysts’ expectations of $36.43 billion. Centene had a net margin of 1.76% and a return on equity of 14.19%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.11 EPS. On average, research analysts expect that Centene Co. will post 6.82 EPS for the current year.

Centene Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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