Centene Corp (CNC) Position Lifted by Gemmer Asset Management LLC

Gemmer Asset Management LLC boosted its holdings in Centene Corp (NYSE:CNC) by 100.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,014 shares of the company’s stock after acquiring an additional 507 shares during the period. Gemmer Asset Management LLC’s holdings in Centene were worth $54,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CNC. Huntington National Bank lifted its holdings in Centene by 110.7% in the first quarter. Huntington National Bank now owns 472 shares of the company’s stock valued at $25,000 after acquiring an additional 248 shares during the last quarter. Toth Financial Advisory Corp lifted its holdings in Centene by 100.0% in the first quarter. Toth Financial Advisory Corp now owns 480 shares of the company’s stock valued at $25,000 after acquiring an additional 240 shares during the last quarter. Lindbrook Capital LLC acquired a new position in Centene in the fourth quarter valued at approximately $31,000. North Star Investment Management Corp. lifted its holdings in Centene by 100.0% in the first quarter. North Star Investment Management Corp. now owns 600 shares of the company’s stock valued at $32,000 after acquiring an additional 300 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC lifted its holdings in Centene by 79.9% in the first quarter. Prime Capital Investment Advisors LLC now owns 734 shares of the company’s stock valued at $39,000 after acquiring an additional 326 shares during the last quarter. Hedge funds and other institutional investors own 45.57% of the company’s stock.

A number of research analysts have commented on CNC shares. Zacks Investment Research upgraded Centene from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research note on Monday, December 31st. Oppenheimer decreased their price target on Centene from $165.00 to $83.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 6th. ValuEngine cut Centene from a “hold” rating to a “sell” rating in a research note on Wednesday, March 27th. Stephens started coverage on Centene in a research note on Monday, January 14th. They set an “overweight” rating and a $73.50 price target on the stock. Finally, Jefferies Financial Group restated a “buy” rating and set a $76.00 price target on shares of Centene in a research note on Thursday, February 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $76.87.

Shares of NYSE CNC opened at $50.07 on Wednesday. The firm has a market capitalization of $21.99 billion, a PE ratio of 14.14, a P/E/G ratio of 0.94 and a beta of 1.26. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.00. Centene Corp has a 12-month low of $49.27 and a 12-month high of $74.49.

Centene (NYSE:CNC) last announced its quarterly earnings data on Tuesday, February 5th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.05. The business had revenue of $16.56 billion for the quarter, compared to analysts’ expectations of $16.38 billion. Centene had a return on equity of 14.10% and a net margin of 1.50%. The company’s revenue for the quarter was up 29.3% compared to the same quarter last year. During the same period last year, the firm earned $0.49 earnings per share. As a group, analysts anticipate that Centene Corp will post 4.24 earnings per share for the current year.

In other news, EVP Christopher D. Bowers sold 9,200 shares of the stock in a transaction on Friday, February 15th. The stock was sold at an average price of $65.01, for a total value of $598,092.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.50% of the stock is currently owned by company insiders.

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Centene Profile

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. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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