Itau Unibanco Holding S.A. trimmed its position in shares of Centene Corporation (NYSE:CNC) by 8.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,345 shares of the company’s stock after selling 613 shares during the quarter. Itau Unibanco Holding S.A.’s holdings in Centene were worth $640,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Centene during the fourth quarter valued at about $131,000. Tower Research Capital LLC TRC acquired a new stake in shares of Centene during the fourth quarter valued at about $145,000. SeaCrest Wealth Management LLC acquired a new stake in shares of Centene during the fourth quarter valued at about $188,000. Baldwin Brothers Inc. MA acquired a new stake in shares of Centene during the third quarter valued at about $185,000. Finally, Calamos Advisors LLC acquired a new stake in shares of Centene during the third quarter valued at about $207,000. 93.03% of the stock is currently owned by hedge funds and other institutional investors.
CNC has been the topic of a number of recent research reports. Zacks Investment Research raised Centene from a “hold” rating to a “strong-buy” rating and set a $117.00 price target on the stock in a research note on Tuesday, December 26th. Oppenheimer lifted their price target on Centene from $111.00 to $122.00 and gave the company an “outperform” rating in a research note on Wednesday, December 20th. Cowen reissued a “buy” rating and set a $115.00 price target on shares of Centene in a research note on Tuesday, October 24th. Credit Suisse Group assumed coverage on Centene in a research note on Thursday, November 2nd. They issued a “neutral” rating and a $102.00 price objective on the stock. Finally, Jefferies Group lifted their price objective on Centene from $112.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, December 18th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $110.28.
Shares of Centene Corporation (CNC) opened at $100.22 on Tuesday. The firm has a market capitalization of $17,381.86, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 0.96 and a beta of 0.71. The company has a quick ratio of 0.99, a current ratio of 0.93 and a debt-to-equity ratio of 0.68. Centene Corporation has a 1-year low of $65.03 and a 1-year high of $112.42.
Centene (NYSE:CNC) last issued its earnings results on Tuesday, February 6th. The company reported $0.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.03. The business had revenue of $12.81 billion during the quarter, compared to the consensus estimate of $12.25 billion. Centene had a return on equity of 13.68% and a net margin of 1.71%. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.19 earnings per share. equities analysts anticipate that Centene Corporation will post 7.2 EPS for the current year.
In other Centene news, EVP Jesse N. Hunter sold 10,000 shares of Centene stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $98.73, for a total value of $987,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Keith H. Williamson sold 5,000 shares of Centene stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $100.11, for a total value of $500,550.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,500 shares of company stock valued at $3,311,613. 3.00% of the stock is currently 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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