GeoWealth Management LLC Sells 4,597 Shares of Centene Co. (NYSE:CNC)

GeoWealth Management LLC cut its holdings in Centene Co. (NYSE:CNC - Free Report) by 86.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 713 shares of the company's stock after selling 4,597 shares during the quarter. GeoWealth Management LLC's holdings in Centene were worth $43,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CNC. Norges Bank acquired a new stake in shares of Centene during the fourth quarter worth $1,536,167,000. Invesco Ltd. raised its stake in shares of Centene by 21.7% in the 4th quarter. Invesco Ltd. now owns 10,555,456 shares of the company's stock valued at $639,450,000 after purchasing an additional 1,884,358 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Centene by 693.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,705,936 shares of the company's stock worth $103,346,000 after buying an additional 1,490,935 shares during the period. Amundi grew its holdings in shares of Centene by 77.2% during the fourth quarter. Amundi now owns 2,786,770 shares of the company's stock worth $176,040,000 after buying an additional 1,214,425 shares in the last quarter. Finally, Prudential Financial Inc. lifted its stake in Centene by 80.6% in the 4th quarter. Prudential Financial Inc. now owns 2,080,826 shares of the company's stock valued at $126,056,000 after acquiring an additional 928,465 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Stock Performance

Shares of Centene stock traded up $0.20 on Friday, hitting $59.61. The stock had a trading volume of 1,648,133 shares, compared to its average volume of 4,707,672. The stock has a market cap of $29.66 billion, a price-to-earnings ratio of 9.55, a price-to-earnings-growth ratio of 0.80 and a beta of 0.53. The business's 50 day moving average is $60.20 and its two-hundred day moving average is $60.62. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.70. Centene Co. has a twelve month low of $55.03 and a twelve month high of $80.59.

Centene (NYSE:CNC - Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $2.90 earnings per share for the quarter, topping analysts' consensus estimates of $2.52 by $0.38. Centene had a return on equity of 13.85% and a net margin of 2.03%. The company had revenue of $46.62 billion during the quarter, compared to the consensus estimate of $43.16 billion. During the same quarter last year, the firm earned $2.26 earnings per share. The company's revenue was up 15.4% on a year-over-year basis. Analysts forecast that Centene Co. will post 6.86 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on CNC. Robert W. Baird cut their price objective on shares of Centene from $71.00 to $69.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Argus cut shares of Centene from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. StockNews.com cut Centene from a "strong-buy" rating to a "buy" rating in a report on Monday. Barclays reduced their price target on Centene from $93.00 to $84.00 and set an "overweight" rating for the company in a research report on Monday. Finally, Wells Fargo & Company cut their price objective on Centene from $76.00 to $72.00 and set an "overweight" rating for the company in a report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $79.77.

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.