First Trust Advisors LP boosted its holdings in Centene Corp (NYSE:CNC) by 40.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 537,124 shares of the company’s stock after acquiring an additional 154,595 shares during the quarter. First Trust Advisors LP owned 0.26% of Centene worth $61,930,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of CNC. Exane Asset Management increased its position in shares of Centene by 40.7% during the 4th quarter. Exane Asset Management now owns 678 shares of the company’s stock valued at $78,000 after purchasing an additional 196 shares during the period. Flagship Harbor Advisors LLC increased its position in shares of Centene by 39.5% during the 4th quarter. Flagship Harbor Advisors LLC now owns 706 shares of the company’s stock valued at $81,000 after purchasing an additional 200 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of Centene by 15,334.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,787,010 shares of the company’s stock valued at $85,000 after purchasing an additional 9,723,601 shares during the period. Csenge Advisory Group acquired a new position in shares of Centene during the 3rd quarter valued at $105,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of Centene during the 3rd quarter valued at $106,000. Hedge funds and other institutional investors own 45.00% of the company’s stock.
Several equities analysts have recently issued reports 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 report on Monday, December 31st. Cantor Fitzgerald reiterated a “buy” rating and set a $72.50 price target on shares of Centene in a research report on Thursday, December 13th. Goldman Sachs Group cut Centene from a “conviction-buy” rating to a “buy” rating in a research report on Monday, December 17th. Stephens started coverage on Centene in a research report on Monday, January 14th. They set an “overweight” rating and a $73.50 price target on the stock. Finally, ValuEngine cut Centene from a “buy” rating to a “hold” rating in a research report on Monday, December 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $77.65.
CNC opened at $63.51 on Friday. The firm has a market cap of $26.97 billion, a PE ratio of 17.94, a P/E/G ratio of 1.16 and a beta of 1.32. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.00 and a quick ratio of 1.03. Centene Corp has a fifty-two week low of $49.26 and a fifty-two week high of $74.49.
Centene (NYSE:CNC) last released its quarterly earnings data on Tuesday, February 5th. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.05. The business had revenue of $16.56 billion during the quarter, compared to analyst estimates of $16.38 billion. Centene had a return on equity of 14.10% and a net margin of 1.50%. The company’s revenue was up 29.3% compared to the same quarter last year. During the same period last year, the company posted $0.49 EPS. Equities research analysts forecast that Centene Corp will post 4.23 earnings per share for the current fiscal year.
In other news, EVP Mark J. Brooks sold 2,540 shares of the firm’s stock in a transaction on Tuesday, December 18th. The stock was sold at an average price of $121.26, for a total value of $308,000.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christopher D. Bowers sold 9,200 shares of the firm’s 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 15,740 shares of company stock valued at $1,406,092. Corporate insiders own 3.00% of the company’s stock.
Centene Company 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. 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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