Centene Co. (NYSE:CNC) Shares Sold by Diversify Advisory Services LLC (2024)

Diversify Advisory Services LLC trimmed its stake in Centene Co. (NYSE:CNC – Free Report) by 56.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,204 shares of the company’s stock after selling 4,197 shares during the quarter. Diversify Advisory Services LLC’s holdings in Centene were worth $211,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Rise Advisors LLC purchased a new stake in shares of Centene in the first quarter valued at $25,000. Riggs Asset Managment Co. Inc. acquired a new stake in Centene during the 4th quarter worth about $32,000. Neo Ivy Capital Management purchased a new position in Centene during the 4th quarter valued at about $40,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Centene in the 2nd quarter valued at about $36,000. Finally, Access Investment Management LLC purchased a new stake in shares of Centene in the fourth quarter worth approximately $44,000. 93.63% of the stock is owned by institutional investors and hedge funds.

Centene Trading Up 0.6 %

Shares of Centene stock opened at $76.00 on Monday. The company’s fifty day simple moving average is $69.39 and its 200-day simple moving average is $73.64. The company has a market cap of $40.56 billion, a price-to-earnings ratio of 15.11, a PEG ratio of 1.00 and a beta of 0.50. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.64. Centene Co. has a 1 year low of $60.83 and a 1 year high of $81.42.

Centene (NYSE:CNC – Get Free Report) last issued its quarterly earnings results on Friday, July 26th. The company reported $2.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.02). Centene had a net margin of 1.79% and a return on equity of 14.45%. The firm had revenue of $39.84 billion for the quarter, compared to the consensus estimate of $36.83 billion. During the same quarter in the prior year, the firm earned $2.10 earnings per share. The company’s revenue was up 5.9% on a year-over-year basis. As a group, sell-side analysts expect that Centene Co. will post 6.84 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CNC. Oppenheimer dropped their price objective on shares of Centene from $110.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. Baird R W raised shares of Centene to a “hold” rating in a research report on Thursday, May 30th. Barclays increased their price target on shares of Centene from $101.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Truist Financial decreased their price objective on shares of Centene from $92.00 to $89.00 and set a “buy” rating for the company in a report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Centene currently has an average rating of “Moderate Buy” and an average target price of $84.36.

View Our Latest Research Report on CNC

Insider Activity at Centene

In other Centene news, Director Christopher J. Coughlin sold 878 shares of Centene stock in a transaction on 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 owns 25,504 shares in the company, valued at $1,957,432. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is currently owned by corporate insiders.

About Centene

(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.

Featured Stories

• Five stocks we like better than Centene
• What is a Special Dividend?
• Cirrus Logic Stock Surges on Strong Apple iPhone Upgrade Cycle
• How to Calculate Inflation Rate
• The Trade Desk : Premium Digital Ad Demand Fuels Record Growth
• How Technical Indicators Can Help You Find Oversold Stocks
• Novavax Plunges on Earnings Miss: Falling Knife or Buying Opp?

Want to see what other hedge funds are holding CNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Centene Co. (NYSE:CNC – Free Report).

Receive News & Ratings for Centene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Centene and related companies with MarketBeat.com's FREE daily email newsletter.