Centene Corp (CNC) Position Increased by World Asset Management Inc

World Asset Management Inc increased its position in shares of Centene Corp (NYSE:CNC) by 17.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,765 shares of the company’s stock after buying an additional 2,849 shares during the period. World Asset Management Inc’s holdings in Centene Corp were worth $1,337,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quadrant Capital Group LLC raised its position in Centene Corp by 5.6% in the first quarter. Quadrant Capital Group LLC now owns 2,263 shares of the company’s stock worth $155,000 after buying an additional 120 shares during the last quarter. Creative Planning raised its position in Centene Corp by 5.4% in the first quarter. Creative Planning now owns 2,476 shares of the company’s stock worth $176,000 after buying an additional 127 shares during the last quarter. Howard Hughes Medical Institute raised its position in Centene Corp by 96.7% in the first quarter. Howard Hughes Medical Institute now owns 2,685 shares of the company’s stock worth $191,000 after buying an additional 1,320 shares during the last quarter. Reliance Trust Co. of Delaware bought a new position in Centene Corp during the first quarter worth $201,000. Finally, Blenheim Capital Management BV bought a new position in Centene Corp during the fourth quarter worth $215,000. 94.14% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Centene Corp (NYSE:CNC)

Centene Corp (NYSE:CNC) traded up 0.906% during mid-day trading on Friday, reaching $76.305. The company had a trading volume of 625,626 shares. The company has a market capitalization of $13.15 billion, a PE ratio of 18.785 and a beta of 0.69. Centene Corp has a 1-year low of $50.00 and a 1-year high of $77.60. The firm has a 50-day moving average of $73.46 and a 200 day moving average of $65.59.

Centene Corp (NYSE:CNC) last released its quarterly earnings results on Tuesday, April 25th. The company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.06. The business had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $11.44 billion. Centene Corp had a return on equity of 12.83% and a net margin of 1.37%. The firm’s revenue for the quarter was up 68.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. On average, analysts predict that Centene Corp will post $4.76 earnings per share for the current fiscal year.

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A number of research analysts have weighed in on CNC shares. Jefferies Group LLC lifted their target price on Centene Corp from $67.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, February 8th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $88.00 target price (up previously from $85.00) on shares of Centene Corp in a report on Tuesday, April 25th. Deutsche Bank AG started coverage on Centene Corp in a report on Wednesday, April 5th. They set a “buy” rating and a $84.00 target price for the company. Stifel Nicolaus lifted their target price on Centene Corp from $80.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, April 26th. Finally, Zacks Investment Research raised Centene Corp from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a report on Thursday, April 27th. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $79.68.

In other Centene Corp news, EVP Jesse N. Hunter sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $74.40, for a total transaction of $372,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jeffrey A. Schwaneke sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $68.52, for a total value of $137,040.00. The disclosure for this sale can be found here. Insiders have sold a total of 20,317 shares of company stock valued at $1,460,356 in the last 90 days. 4.50% of the stock is currently owned by company insiders.

About Centene Corp

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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