Nomura Asset Management Co. Ltd. boosted its position in shares of Centene Corp (NYSE:CNC) by 5.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,875 shares of the company’s stock after buying an additional 1,526 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Centene were worth $2,979,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CNC. BlackRock Inc. boosted its stake in Centene by 4.6% during the fourth quarter. BlackRock Inc. now owns 13,939,406 shares of the company’s stock worth $1,406,209,000 after buying an additional 616,914 shares during the period. AGF Investments Inc. purchased a new position in Centene during the fourth quarter worth $49,577,000. Arrowstreet Capital Limited Partnership boosted its stake in Centene by 2,219.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 500,937 shares of the company’s stock worth $50,535,000 after buying an additional 479,337 shares during the period. Mackay Shields LLC purchased a new position in Centene during the first quarter worth $46,698,000. Finally, Element Capital Management LLC purchased a new position in Centene during the fourth quarter worth $44,066,000. 76.42% of the stock is owned by institutional investors.
NYSE:CNC opened at $123.71 on Wednesday. Centene Corp has a twelve month low of $76.90 and a twelve month high of $123.78. The firm has a market cap of $25.02 billion, a PE ratio of 24.59, a price-to-earnings-growth ratio of 1.18 and a beta of 0.76. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.68.
CNC has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed a “buy” rating and set a $125.00 price objective on shares of Centene in a research note on Monday, April 2nd. Leerink Swann reaffirmed a “market perform” rating and set a $90.00 price objective (down from $100.00) on shares of Centene in a research note on Tuesday, February 13th. Morgan Stanley lifted their price objective on shares of Centene from $126.00 to $127.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 25th. BMO Capital Markets reiterated a “buy” rating on shares of Centene in a research report on Monday, March 26th. Finally, Zacks Investment Research downgraded Centene from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 10th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Centene currently has an average rating of “Buy” and a consensus target price of $116.20.
In related news, EVP Keith H. Williamson sold 1,000 shares of Centene stock in a transaction dated Friday, April 27th. The stock was sold at an average price of $110.00, for a total value of $110,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael F. Neidorff sold 250,000 shares of Centene stock in a transaction dated Thursday, April 26th. The shares were sold at an average price of $108.20, for a total value of $27,050,000.00. The disclosure for this sale can be found here. Insiders sold 262,750 shares of company stock valued at $28,461,313 over the last 90 days. 3.00% of the stock is currently owned by corporate insiders.
Centene Company Profile
Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. It operates through two segments, Managed Care and Specialty Services. The Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term care, foster care, and dual eligible individual, as well as aged, blind, or disabled programs.
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