Arizona State Retirement System lifted its holdings in Centene Corporation (NYSE:CNC) by 22.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 124,565 shares of the company’s stock after buying an additional 22,700 shares during the quarter. Arizona State Retirement System owned approximately 0.07% of Centene worth $12,566,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of CNC. Janus Henderson Group PLC lifted its position in shares of Centene by 320.5% in the 2nd quarter. Janus Henderson Group PLC now owns 102,870 shares of the company’s stock worth $8,216,000 after buying an additional 78,409 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Centene in the 2nd quarter worth about $455,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Centene in the 2nd quarter worth about $337,000. Koch Industries Inc. bought a new position in shares of Centene in the 2nd quarter worth about $241,000. Finally, Toronto Dominion Bank lifted its position in shares of Centene by 25.7% in the 2nd quarter. Toronto Dominion Bank now owns 58,358 shares of the company’s stock worth $4,661,000 after buying an additional 11,947 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.
CNC has been the topic of a number of recent research reports. Cantor Fitzgerald restated a “buy” rating and issued a $115.00 price target on shares of Centene in a research report on Monday, December 18th. Jefferies Group raised their price target on shares of Centene from $112.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, December 18th. Oppenheimer increased their price objective on shares of Centene from $111.00 to $122.00 and gave the stock an “outperform” rating in a report on Wednesday, December 20th. ValuEngine raised shares of Centene from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Zacks Investment Research cut shares of Centene from a “strong-buy” rating to a “hold” rating in a report on Friday, December 22nd. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Centene has a consensus rating of “Buy” and a consensus target price of $110.28.
Centene Corporation (CNC) opened at $100.22 on Friday. The company has a market cap of $17,290.00, a PE ratio of 21.37, a price-to-earnings-growth ratio of 0.98 and a beta of 0.71. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.99 and a current ratio of 0.93. Centene Corporation has a 52 week low of $65.03 and a 52 week high of $112.42.
Centene (NYSE:CNC) last released its earnings results on Tuesday, February 6th. The company reported $0.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.03. The firm had revenue of $12.81 billion for the quarter, compared to analysts’ expectations of $12.25 billion. Centene had a net margin of 1.71% and a return on equity of 13.68%. Centene’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the company earned $1.19 EPS. equities research analysts forecast that Centene Corporation will post 7.2 earnings per share for the current year.
In other Centene news, Director Robert K. Ditmore sold 8,750 shares of the firm’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $104.30, for a total transaction of $912,625.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jesse N. Hunter sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $98.73, for a total transaction of $987,300.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,500 shares of company stock worth $3,311,613. 3.00% of the stock is owned by corporate insiders.
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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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