Gotham Asset Management LLC increased its stake in shares of Centene Corporation (NYSE:CNC) by 12.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 25,335 shares of the company’s stock after buying an additional 2,886 shares during the period. Gotham Asset Management LLC’s holdings in Centene Corporation were worth $1,805,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of CNC. Chevy Chase Trust Holdings Inc. boosted its position in shares of Centene Corporation by 3.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 148,296 shares of the company’s stock valued at $10,567,000 after buying an additional 5,499 shares during the period. Integrated Investment Consultants LLC boosted its position in shares of Centene Corporation by 3.2% in the first quarter. Integrated Investment Consultants LLC now owns 3,272 shares of the company’s stock valued at $233,000 after buying an additional 100 shares during the period. Macquarie Group Ltd. raised its stake in Centene Corporation by 15.2% in the fourth quarter. Macquarie Group Ltd. now owns 92,969 shares of the company’s stock valued at $5,254,000 after buying an additional 12,250 shares in the last quarter. Highbridge Capital Management LLC purchased a new stake in Centene Corporation during the fourth quarter valued at about $29,313,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Centene Corporation during the fourth quarter valued at about $313,000. Institutional investors and hedge funds own 93.51% of the company’s stock.
Shares of Centene Corporation (NYSE:CNC) traded up 1.87% on Friday, hitting $82.69. The stock had a trading volume of 1,214,917 shares. The company has a market cap of $14.26 billion, a price-to-earnings ratio of 18.15 and a beta of 0.68. The firm’s 50-day moving average is $81.36 and its 200-day moving average is $73.20. Centene Corporation has a one year low of $50.00 and a one year high of $87.94.
Centene Corporation (NYSE:CNC) last posted its earnings results on Tuesday, July 25th. The company reported $1.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.29. The firm had revenue of $11.95 billion for the quarter, compared to the consensus estimate of $11.69 billion. Centene Corporation had a net margin of 1.72% and a return on equity of 14.62%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.29 earnings per share. On average, analysts expect that Centene Corporation will post $4.87 EPS for the current fiscal year.
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CNC has been the subject of a number of research analyst reports. Stifel Nicolaus raised their price target on Centene Corporation from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, April 26th. Cantor Fitzgerald reiterated a “buy” rating and set a $88.00 target price (up from $85.00) on shares of Centene Corporation in a research report on Tuesday, April 25th. Jefferies Group LLC restated a “buy” rating and set a $79.00 price target on shares of Centene Corporation in a research note on Wednesday, April 19th. Deutsche Bank AG assumed coverage on Centene Corporation in a research note on Wednesday, April 5th. They issued a “buy” rating and a $84.00 target price on the stock. Finally, Zacks Investment Research upgraded Centene Corporation from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research note on Thursday, April 27th. One analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $86.82.
In related news, SVP Mark J. Brooks sold 2,161 shares of the stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $75.43, for a total value of $163,004.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jesse N. Hunter sold 5,000 shares of the stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $74.40, for a total transaction of $372,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,578 shares of company stock worth $4,319,037. 3.00% of the stock is currently owned by company insiders.
Centene Corporation Company Profile
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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