Rockefeller Capital Management L.P. Raises Position in Centene Corp (NYSE:CNC)

Rockefeller Capital Management L.P. raised its holdings in Centene Corp (NYSE:CNC) by 26.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,330 shares of the company’s stock after buying an additional 701 shares during the period. Rockefeller Capital Management L.P.’s holdings in Centene were worth $175,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Shamrock Asset Management LLC raised its holdings in shares of Centene by 100.0% in the 1st quarter. Shamrock Asset Management LLC now owns 522 shares of the company’s stock valued at $28,000 after purchasing an additional 261 shares in the last quarter. Zions Bancorporation N.A. raised its holdings in shares of Centene by 131.5% in the 1st quarter. Zions Bancorporation N.A. now owns 602 shares of the company’s stock valued at $32,000 after purchasing an additional 342 shares in the last quarter. Global Retirement Partners LLC raised its holdings in shares of Centene by 568.0% in the 1st quarter. Global Retirement Partners LLC now owns 648 shares of the company’s stock valued at $34,000 after purchasing an additional 551 shares in the last quarter. Reilly Financial Advisors LLC raised its holdings in shares of Centene by 133.3% in the 2nd quarter. Reilly Financial Advisors LLC now owns 700 shares of the company’s stock valued at $37,000 after purchasing an additional 400 shares in the last quarter. Finally, Berman Capital Advisors LLC raised its holdings in shares of Centene by 369.3% in the 1st quarter. Berman Capital Advisors LLC now owns 826 shares of the company’s stock valued at $43,000 after purchasing an additional 650 shares in the last quarter. 93.08% of the stock is owned by institutional investors.

NYSE:CNC traded up $0.32 during midday trading on Friday, hitting $46.46. 64,999 shares of the company were exchanged, compared to its average volume of 4,053,769. The company has a fifty day simple moving average of $49.12 and a 200 day simple moving average of $53.78. Centene Corp has a fifty-two week low of $44.50 and a fifty-two week high of $74.49. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $18.86 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 0.73 and a beta of 0.85.

Centene (NYSE:CNC) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $1.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.10. Centene had a net margin of 1.84% and a return on equity of 15.87%. The firm had revenue of $18.36 billion for the quarter, compared to analyst estimates of $18.02 billion. During the same period last year, the business earned $0.90 EPS. Centene’s revenue for the quarter was up 29.4% compared to the same quarter last year. As a group, equities research analysts expect that Centene Corp will post 4.42 EPS for the current year.

A number of brokerages have recently weighed in on CNC. ValuEngine lowered shares of Centene from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 2nd. Zacks Investment Research lowered shares of Centene from a “buy” rating to a “hold” rating and set a $49.00 price objective on the stock. in a report on Monday. Citigroup upgraded shares of Centene from a “neutral” rating to a “buy” rating and set a $69.00 price objective on the stock in a report on Friday, May 10th. Finally, Morgan Stanley reduced their price objective on shares of Centene from $71.00 to $64.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $73.95.

In related news, Director Jessica L. Blume purchased 2,850 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were purchased at an average cost of $52.99 per share, for a total transaction of $151,021.50. The purchase was disclosed in a document filed with the SEC, which is available through this link. 2.50% of the stock is owned by company insiders.

About Centene

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. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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