Mitsubishi UFJ Trust & Banking Corp lessened its stake in shares of Centene Corporation (NYSE:CNC) by 0.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 354,788 shares of the company’s stock after selling 1,816 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.21% of Centene worth $34,333,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. WINTON GROUP Ltd increased its stake in shares of Centene by 3.2% during the third quarter. WINTON GROUP Ltd now owns 326,810 shares of the company’s stock valued at $31,625,000 after acquiring an additional 10,250 shares during the period. Zeke Capital Advisors LLC acquired a new position in shares of Centene during the third quarter valued at approximately $318,000. Cadence Capital Management LLC acquired a new position in shares of Centene during the third quarter valued at approximately $2,115,000. Schroder Investment Management Group increased its stake in shares of Centene by 114.1% during the third quarter. Schroder Investment Management Group now owns 231,458 shares of the company’s stock valued at $22,183,000 after acquiring an additional 123,326 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Centene by 9.6% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,027 shares of the company’s stock valued at $1,357,000 after acquiring an additional 1,228 shares during the period. Institutional investors and hedge funds own 92.33% of the company’s stock.
CNC has been the topic of a number of research analyst reports. Deutsche Bank reiterated a “buy” rating and set a $111.00 price objective (up previously from $95.00) on shares of Centene in a research note on Thursday, September 14th. Oppenheimer lifted their price target on shares of Centene from $105.00 to $111.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 25th. Zacks Investment Research upgraded shares of Centene from a “hold” rating to a “buy” rating and set a $107.00 price target on the stock in a research report on Friday, September 15th. Jefferies Group lifted their price target on shares of Centene from $98.00 to $112.00 and gave the stock a “buy” rating in a research report on Friday, October 13th. Finally, Credit Suisse Group started coverage on shares of Centene in a research report on Thursday, November 2nd. They issued a “neutral” rating and a $102.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have given a buy rating to the company’s stock. Centene currently has an average rating of “Buy” and a consensus target price of $99.11.
In related news, Director Robert K. Ditmore sold 4,167 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $90.42, for a total value of $376,780.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.00% of the company’s stock.
Centene Corporation (CNC) opened at $98.28 on Tuesday. Centene Corporation has a 52 week low of $54.40 and a 52 week high of $103.15. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $17,446.47, a P/E ratio of 19.26, a P/E/G ratio of 1.54 and a beta of 0.71.
Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, October 24th. The company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.11. Centene had a net margin of 1.81% and a return on equity of 14.79%. The firm had revenue of $11.90 billion during the quarter, compared to analyst estimates of $11.75 billion. During the same quarter last year, the business posted $1.12 EPS. The company’s revenue was up 9.7% on a year-over-year basis. analysts forecast that Centene Corporation will post 4.98 earnings per share for the current fiscal year.
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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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