Fulton Bank N.A. lowered its position in Centene Corporation (NYSE:CNC) by 18.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,750 shares of the company’s stock after selling 1,477 shares during the period. Fulton Bank N.A.’s holdings in Centene Corporation were worth $653,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Mckinley Capital Management LLC Delaware purchased a new position in shares of Centene Corporation during the 2nd quarter worth $101,000. Seven Bridges Advisors LLC purchased a new position in shares of Centene Corporation in the 2nd quarter worth $123,000. IFP Advisors Inc raised its position in shares of Centene Corporation by 9.6% in the 2nd quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock worth $155,000 after buying an additional 170 shares during the period. MV Capital Management Inc. purchased a new position in shares of Centene Corporation in the 2nd quarter worth $186,000. Finally, Sii Investments Inc. WI purchased a new position in shares of Centene Corporation in the 2nd quarter worth $202,000. Hedge funds and other institutional investors own 92.70% of the company’s stock.
In other Centene Corporation news, EVP Christopher D. Bowers sold 4,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $79.43, for a total transaction of $317,720.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.00% of the stock is owned by corporate insiders.
Several brokerages recently issued reports on CNC. Bank of America Corporation increased their price target on Centene Corporation from $93.00 to $95.00 and gave the company a “buy” rating in a report on Friday, July 14th. Cantor Fitzgerald raised their target price on Centene Corporation to $107.00 and gave the company an “overweight” rating in a research note on Wednesday, September 13th. ValuEngine upgraded Centene Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 27th. Zacks Investment Research downgraded Centene Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Finally, BMO Capital Markets started coverage on Centene Corporation in a research note on Tuesday, October 17th. They issued an “outperform” rating and a $120.00 price target for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $96.42.
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Centene Corporation (CNC) traded up 3.60% during midday trading on Friday, hitting $94.41. 2,181,514 shares of the company traded hands. The stock’s 50-day moving average is $93.80 and its 200-day moving average is $83.00. Centene Corporation has a 12-month low of $50.00 and a 12-month high of $98.72. The firm has a market capitalization of $16.28 billion, a PE ratio of 20.72 and a beta of 0.68.
Centene Corporation (NYSE:CNC) last released its earnings results on Tuesday, October 24th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.11. Centene Corporation had a net margin of 1.81% and a return on equity of 14.79%. The company had revenue of $11.90 billion for the quarter, compared to the consensus estimate of $11.75 billion. During the same quarter in the previous year, the company earned $1.12 EPS. Centene Corporation’s quarterly revenue was up 9.7% compared to the same quarter last year. Analysts anticipate that Centene Corporation will post $4.97 EPS for the current fiscal 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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