12,563 Centene Corporation $CNC Shares Sold by Lido Advisors LLC

Lido Advisors LLC reduced its position in shares of Centene Corporation (NYSE:CNC) by 27.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,459 shares of the company’s stock after selling 12,563 shares during the period. Lido Advisors LLC’s holdings in Centene were worth $2,016,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Centene during the 2nd quarter valued at approximately $2,660,422,000. Wellington Management Group LLP lifted its stake in Centene by 423.0% in the 2nd quarter. Wellington Management Group LLP now owns 13,301,215 shares of the company’s stock valued at $853,805,000 after purchasing an additional 10,757,914 shares during the last quarter. Bank of America Corp DE acquired a new stake in Centene in the second quarter valued at approximately $285,713,000. Deutsche Bank AG acquired a new stake in Centene in the second quarter valued at approximately $257,279,000. Finally, Legal & General Group Plc bought a new stake in shares of Centene during the second quarter worth $244,463,000. 93.63% of the stock is currently owned by institutional investors.

Insider Activity at Centene

In other Centene news, General Counsel Christopher Koster sold 56,500 shares of the business’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $66.90, for a total value of $3,779,850.00. Following the transaction, the general counsel directly owned 248,854 shares in the company, valued at $16,648,332.60. The trade was a 18.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.37% of the stock is owned by insiders.

Centene Stock Up 1.4%

Shares of NYSE:CNC traded up $0.96 during trading on Friday, reaching $71.23. 4,002,872 shares of the stock were exchanged, compared to its average volume of 5,782,810. Centene Corporation has a 1-year low of $31.63 and a 1-year high of $78.08. The stock has a fifty day moving average of $67.07 and a two-hundred day moving average of $56.51. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market cap of $35.27 billion, a price-to-earnings ratio of 24.40, a price-to-earnings-growth ratio of 0.41 and a beta of 1.07.

Centene (NYSE:CNC) last released its quarterly earnings results on Tuesday, October 27th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.48. The business had revenue of $50.65 billion during the quarter, compared to the consensus estimate of $47.12 billion. Centene had a return on equity of 12.15% and a net margin of 0.72%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.50 EPS. Research analysts anticipate that Centene Corporation will post 5.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on CNC shares. Weiss Ratings raised Centene from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 28th. Stifel Nicolaus set a $79.00 price objective on Centene in a research note on Monday, August 3rd. Mizuho set a $72.00 price objective on shares of Centene in a report on Wednesday, October 28th. Truist Financial reiterated a “buy” rating and set a $82.00 target price (up from $80.00) on shares of Centene in a research report on Monday, November 2nd. Finally, Barclays boosted their target price on shares of Centene from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Wednesday, October 28th. Nine analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Centene currently has a consensus rating of “Hold” and a consensus price target of $73.80.

Centene Profile

Centene Corporation is a U.S. health care company that provides managed care and related services, primarily for people enrolled in government-sponsored health programs. Its offerings include Medicaid and Medicare plans, as well as health insurance sold through the Affordable Care Act marketplace. Centene serves members through health plans and a network of health care providers. Its businesses include Ambetter, which offers marketplace health plans, and Wellcare, which provides Medicare-related coverage.