Tredje AP fonden reduced its holdings in shares of Centene Corporation (NYSE:CNC) by 3.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,826 shares of the company’s stock after selling 1,065 shares during the period. Tredje AP fonden’s holdings in Centene Corporation were worth $2,223,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Bronfman E.L. Rothschild L.P. boosted its position in shares of Centene Corporation by 5.9% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 1,662 shares of the company’s stock valued at $118,000 after acquiring an additional 93 shares in the last quarter. Seven Bridges Advisors LLC acquired a new stake in shares of Centene Corporation during the 2nd quarter valued at about $123,000. IFP Advisors Inc boosted its position in shares of Centene Corporation by 9.6% during the 2nd quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock valued at $155,000 after acquiring an additional 170 shares in the last quarter. MV Capital Management Inc. acquired a new stake in shares of Centene Corporation during the 2nd quarter valued at about $186,000. Finally, Holderness Investments Co. acquired a new stake in shares of Centene Corporation during the 1st quarter valued at about $211,000. Institutional investors and hedge funds own 92.26% of the company’s stock.
Centene Corporation (NYSE CNC) opened at 89.54 on Monday. The firm has a market cap of $15.44 billion, a PE ratio of 19.65 and a beta of 0.63. Centene Corporation has a one year low of $50.00 and a one year high of $89.95. The company’s 50-day moving average is $84.39 and its 200-day moving average is $77.17.
Centene Corporation (NYSE:CNC) last announced its quarterly earnings data on Tuesday, July 25th. The company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.30 by $0.29. Centene Corporation had a net margin of 1.72% and a return on equity of 14.62%. The company had revenue of $11.95 billion during the quarter, compared to the consensus estimate of $11.69 billion. During the same quarter last year, the firm posted $1.29 EPS. The company’s quarterly revenue was up 9.7% on a year-over-year basis. On average, analysts forecast that Centene Corporation will post $4.92 earnings per share for the current fiscal year.
Several analysts have recently weighed in on CNC shares. Jefferies Group LLC reiterated a “buy” rating and set a $94.00 target price on shares of Centene Corporation in a research report on Friday, July 14th. Zacks Investment Research downgraded shares of Centene Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. BidaskClub raised shares of Centene Corporation from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 24th. ValuEngine downgraded shares of Centene Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. Finally, Citigroup Inc. lifted their price target on shares of Centene Corporation from $80.00 to $89.00 and gave the company a “sell” rating in a report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company’s stock. Centene Corporation currently has a consensus rating of “Buy” and a consensus price target of $86.94.
In related news, Director Robert K. Ditmore sold 4,167 shares of Centene Corporation stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $82.59, for a total value of $344,152.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Michael F. Neidorff sold 35,000 shares of Centene Corporation stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $80.26, for a total transaction of $2,809,100.00. The disclosure for this sale can be found here. In the last three months, insiders sold 43,167 shares of company stock valued at $3,470,973. 3.00% of the stock is currently owned by insiders.
Centene Corporation Company Profile
Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.
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