Morgan Stanley Has $82.40 Million Stake in Centene Corp (CNC)

Morgan Stanley raised its stake in shares of Centene Corp (NYSE:CNC) by 7.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 668,772 shares of the company’s stock after buying an additional 45,996 shares during the quarter. Morgan Stanley owned about 0.33% of Centene worth $82,401,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. CI Investments Inc. acquired a new position in shares of Centene during the 1st quarter worth about $44,885,000. Sentry Investment Management LLC acquired a new position in shares of Centene during the 2nd quarter worth about $1,679,000. Commonwealth Bank of Australia grew its position in shares of Centene by 16.3% during the 2nd quarter. Commonwealth Bank of Australia now owns 18,178 shares of the company’s stock worth $2,234,000 after buying an additional 2,554 shares during the period. Stifel Financial Corp grew its position in shares of Centene by 35.9% during the 1st quarter. Stifel Financial Corp now owns 47,597 shares of the company’s stock worth $5,084,000 after buying an additional 12,563 shares during the period. Finally, Greenleaf Trust acquired a new position in shares of Centene during the 2nd quarter worth about $301,000. Institutional investors own 90.04% of the company’s stock.

Several equities analysts have recently issued reports on the company. Credit Suisse Group boosted their target price on Centene from $134.00 to $152.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 4th. Morgan Stanley boosted their target price on Centene from $138.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 5th. Mitsubishi UFJ Financial Group assumed coverage on Centene in a research report on Wednesday, September 19th. They set an “overweight” rating and a $170.00 target price for the company. MED assumed coverage on Centene in a research report on Wednesday, September 19th. They set an “overweight” rating and a $170.00 target price for the company. Finally, Zacks Investment Research lowered Centene from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Centene presently has an average rating of “Buy” and an average price target of $147.29.

NYSE:CNC opened at $142.71 on Monday. Centene Corp has a fifty-two week low of $83.56 and a fifty-two week high of $148.24. The company has a current ratio of 1.25, a quick ratio of 1.26 and a debt-to-equity ratio of 0.59. The stock has a market cap of $29.29 billion, a PE ratio of 22.69, a price-to-earnings-growth ratio of 1.38 and a beta of 0.85.

Centene (NYSE:CNC) last released its quarterly earnings data on Tuesday, July 24th. The company reported $1.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $0.03. Centene had a return on equity of 14.57% and a net margin of 2.06%. The business had revenue of $14.18 billion for the quarter, compared to analysts’ expectations of $13.82 billion. During the same quarter in the previous year, the business posted $1.59 EPS. Centene’s revenue for the quarter was up 18.6% on a year-over-year basis. equities analysts expect that Centene Corp will post 7.08 EPS for the current fiscal year.

In other news, EVP Christopher D. Bowers sold 3,800 shares of Centene stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $145.55, for a total transaction of $553,090.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Brandy Burkhalter sold 3,000 shares of Centene stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $131.90, for a total value of $395,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 30,550 shares of company stock worth $4,274,790 in the last quarter. 3.00% of the stock is currently 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. It operates through two segments, Managed Care and Specialty Services. The Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term care, foster care, and dual eligible individual, as well as aged, blind, or disabled programs.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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