3,808,421 Shares in Centene Corporation $CNC Purchased by Legal & General Group Plc

Legal & General Group Plc acquired a new position in Centene Corporation (NYSE:CNC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,808,421 shares of the company’s stock, valued at approximately $244,463,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CNC. MidFirst Bank purchased a new position in Centene in the second quarter valued at approximately $32,000. Fiduciary Financial Advisors bought a new stake in shares of Centene in the second quarter valued at $34,000. DV Equities LLC purchased a new position in shares of Centene during the 4th quarter valued at $26,000. Elevation Wealth Partners LLC grew its stake in shares of Centene by 564.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 658 shares of the company’s stock worth $42,000 after acquiring an additional 559 shares during the period. Finally, IFC & Insurance Marketing Inc. purchased a new stake in Centene in the 4th quarter worth about $28,000. 93.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CNC has been the topic of a number of analyst reports. Wall Street Zen raised shares of Centene from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 18th. Barclays reiterated an “overweight” rating and issued a $80.00 price target (up from $75.00) on shares of Centene in a research report on Wednesday, July 29th. Argus raised Centene from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a report on Tuesday, August 11th. Cantor Fitzgerald lifted their target price on Centene from $60.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Finally, TD Cowen reiterated a “hold” rating and set a $65.00 price target (up from $47.00) on shares of Centene in a research report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $70.05.

Centene Stock Up 0.5%

CNC stock opened at $65.35 on Thursday. The company’s 50 day moving average is $65.17 and its 200 day moving average is $52.98. The stock has a market cap of $32.28 billion, a price-to-earnings ratio of -6.26, a price-to-earnings-growth ratio of 0.35 and a beta of 1.08. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.71. Centene Corporation has a 1-year low of $28.24 and a 1-year high of $69.36.

Centene (NYSE:CNC) last announced its earnings results on Monday, July 27th. The company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $1.42. The business had revenue of $53.58 billion during the quarter, compared to analyst estimates of $47.64 billion. Centene had a negative net margin of 2.51% and a positive return on equity of 12.12%. Centene’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.16) earnings per share. Sell-side analysts predict that Centene Corporation will post 4.89 EPS for the current fiscal year.

Insider Transactions at Centene

In related news, General Counsel Christopher Koster sold 47,603 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $65.36, for a total value of $3,111,332.08. Following the completion of the transaction, the general counsel directly owned 305,354 shares in the company, valued at approximately $19,957,937.44. The trade was a 13.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.37% of the company’s stock.

Centene Profile

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.