Macquarie Group Ltd. lessened its holdings in Centene Corporation (NYSE:CNC) by 35.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,137 shares of the company’s stock after selling 31,119 shares during the period. Macquarie Group Ltd.’s holdings in Centene Corporation were worth $4,565,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of CNC. BlackRock Inc. raised its stake in shares of Centene Corporation by 3,408.1% in the 1st quarter. BlackRock Inc. now owns 15,510,470 shares of the company’s stock valued at $1,105,275,000 after acquiring an additional 15,068,340 shares during the period. Ameriprise Financial Inc. increased its stake in Centene Corporation by 318.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,504,359 shares of the company’s stock worth $279,882,000 after buying an additional 2,667,189 shares during the period. AJO LP purchased a new stake in Centene Corporation during the 2nd quarter worth $100,314,000. AQR Capital Management LLC increased its stake in Centene Corporation by 108.0% during the 1st quarter. AQR Capital Management LLC now owns 2,088,867 shares of the company’s stock worth $148,853,000 after buying an additional 1,084,628 shares during the period. Finally, Vanguard Group Inc. increased its stake in Centene Corporation by 4.9% during the 2nd quarter. Vanguard Group Inc. now owns 16,726,500 shares of the company’s stock worth $1,336,113,000 after buying an additional 774,474 shares during the period. 92.70% of the stock is currently owned by institutional investors and hedge funds.
Centene Corporation (NYSE:CNC) traded up 3.60% on Friday, hitting $94.41. 2,181,514 shares of the stock traded hands. Centene Corporation has a 12-month low of $50.00 and a 12-month high of $98.72. The stock has a 50-day moving average of $93.80 and a 200-day moving average of $83.00. The firm has a market cap of $16.28 billion, a price-to-earnings ratio of 20.72 and a beta of 0.68.
Centene Corporation (NYSE:CNC) last announced its quarterly earnings data on Tuesday, October 24th. The company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $11.75 billion. During the same quarter in the prior year, the company posted $1.12 EPS. The business’s revenue was up 9.7% on a year-over-year basis. Analysts forecast that Centene Corporation will post $4.97 earnings per share for the current year.
In other 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 value of $317,720.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.00% of the stock is currently owned by corporate insiders.
CNC has been the topic of several analyst reports. BidaskClub downgraded shares of Centene Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 1st. Zacks Investment Research downgraded shares of Centene Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Centene Corporation in a research note on Tuesday, July 11th. Deutsche Bank AG lifted their price target on shares of Centene Corporation from $84.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, July 13th. Finally, Bank of America Corporation lifted their price target on shares of Centene Corporation from $93.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, July 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $96.42.
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Centene Corporation Company 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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