Centene Corporation $CNC Position Boosted by Running Oak Capital LLC

Running Oak Capital LLC lifted its position in shares of Centene Corporation (NYSE:CNC) by 6.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 163,074 shares of the company’s stock after acquiring an additional 9,903 shares during the period. Running Oak Capital LLC’s holdings in Centene were worth $10,130,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in CNC. BlackRock Inc. bought a new stake in Centene during the second quarter worth $2,660,422,000. Wellington Management Group LLP boosted its holdings in shares of 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 in the last quarter. Bank of America Corp DE bought a new position in shares of Centene in the 2nd quarter valued at $285,713,000. Deutsche Bank AG acquired a new position in shares of Centene during the 2nd quarter worth $257,279,000. Finally, Legal & General Group Plc acquired a new position in shares of Centene during the 2nd quarter worth $244,463,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Insiders Place Their Bets

In related news, General Counsel Christopher Koster sold 56,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $66.90, for a total transaction of $3,779,850.00. Following the transaction, the general counsel directly owned 248,854 shares of the company’s stock, valued at approximately $16,648,332.60. This represents a 18.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.37% of the company’s stock.

Centene Trading Down 1.6%

NYSE:CNC opened at $68.64 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $33.98 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 0.45 and a beta of 1.07. The firm has a fifty day simple moving average of $66.72 and a two-hundred day simple moving average of $55.99. Centene Corporation has a 12 month low of $31.63 and a 12 month high of $78.08.

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

Analyst Upgrades and Downgrades

CNC has been the subject of several research reports. Bank of America reissued a “buy” rating and issued a $82.00 price objective (up from $80.00) on shares of Centene in a research note on Wednesday, October 28th. JPMorgan Chase & Co. upped their target price on Centene from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, October 29th. Cantor Fitzgerald lifted their price target on Centene from $75.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, October 28th. Raymond James Financial set a $79.00 price target on Centene in a report on Wednesday, October 28th. Finally, UBS Group upped their price objective on Centene from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Wednesday, October 28th. Nine equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $73.80.

About Centene

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.