New York State Common Retirement Fund lessened its holdings in shares of Centene Corporation (NYSE:CNC) by 0.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 807,895 shares of the company’s stock after selling 5,977 shares during the quarter. New York State Common Retirement Fund owned about 0.47% of Centene Corporation worth $64,535,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Artemis Investment Management LLP bought a new position in Centene Corporation during the second quarter worth about $15,326,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of Centene Corporation by 28.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 788,573 shares of the company’s stock worth $62,992,000 after buying an additional 176,403 shares in the last quarter. AJO LP purchased a new stake in shares of Centene Corporation in the second quarter worth about $100,314,000. CAPROCK Group Inc. purchased a new stake in shares of Centene Corporation in the second quarter worth about $230,000. Finally, Prudential Financial Inc. lifted its holdings in shares of Centene Corporation by 61.6% in the second quarter. Prudential Financial Inc. now owns 702,668 shares of the company’s stock worth $56,129,000 after buying an additional 267,770 shares in the last quarter. Hedge funds and other institutional investors own 92.32% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald increased their price target on shares of Centene Corporation to $107.00 and gave the stock an “overweight” rating in a report on Wednesday, September 13th. Leerink Swann reissued a “market perform” rating and issued a $90.00 price target (up from $78.00) on shares of Centene Corporation in a report on Wednesday, September 13th. Cowen and Company reissued an “outperform” rating and issued a $105.00 price target (up from $77.00) on shares of Centene Corporation in a report on Wednesday, September 13th. Zacks Investment Research raised shares of Centene Corporation from a “hold” rating to a “buy” rating and set a $107.00 price target on the stock in a report on Friday, September 15th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $105.00 price target on shares of Centene Corporation in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company. Centene Corporation presently has an average rating of “Buy” and an average target price of $92.24.
In other news, Director Robert K. Ditmore sold 4,167 shares of the stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $82.59, for a total transaction of $344,152.53. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Christopher D. Bowers sold 4,000 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $79.43, for a total value of $317,720.00. The disclosure for this sale can be found here. Insiders have sold a total of 43,167 shares of company stock worth $3,470,973 in the last three months. Corporate insiders own 3.00% of the company’s stock.
Centene Corporation (NYSE CNC) traded up 0.13% during mid-day trading on Wednesday, reaching $89.90. 131,547 shares of the company traded hands. The company’s 50 day moving average price is $86.60 and its 200 day moving average price is $78.42. The firm has a market capitalization of $15.51 billion, a P/E ratio of 19.73 and a beta of 0.63. Centene Corporation has a 12-month low of $50.00 and a 12-month high of $98.72.
Centene Corporation (NYSE:CNC) last posted its quarterly earnings results on Tuesday, July 25th. The company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.29. Centene Corporation had a return on equity of 14.62% and a net margin of 1.72%. The business had revenue of $11.95 billion for the quarter, compared to the consensus estimate of $11.69 billion. During the same quarter in the prior year, the company earned $1.29 EPS. The business’s revenue was up 9.7% compared to the same quarter last year. Equities research analysts predict that Centene Corporation will post $4.92 EPS for the current year.
Centene Corporation 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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