Anderson Hoagland & Co. bought a new position in shares of Centene Corporation (NYSE:CNC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,929 shares of the company’s stock, valued at approximately $598,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. MML Investors Services LLC boosted its holdings in Centene by 1.0% during the second quarter. MML Investors Services LLC now owns 3,587 shares of the company’s stock worth $287,000 after purchasing an additional 34 shares during the last quarter. Gyroscope Capital Management Group LLC boosted its holdings in Centene by 4.7% during the second quarter. Gyroscope Capital Management Group LLC now owns 2,942 shares of the company’s stock worth $235,000 after purchasing an additional 132 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Centene by 2.3% during the second quarter. Nordea Investment Management AB now owns 9,663 shares of the company’s stock worth $772,000 after purchasing an additional 216 shares during the last quarter. Profund Advisors LLC raised its position in Centene by 3.6% during the second quarter. Profund Advisors LLC now owns 7,129 shares of the company’s stock worth $569,000 after acquiring an additional 246 shares in the last quarter. Finally, Elk Creek Partners LLC raised its position in Centene by 11.5% during the third quarter. Elk Creek Partners LLC now owns 5,264 shares of the company’s stock worth $509,000 after acquiring an additional 542 shares in the last quarter. Institutional investors and hedge funds own 92.16% of the company’s stock.
In related news, EVP Keith H. Williamson sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $100.11, for a total transaction of $500,550.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert K. Ditmore sold 4,167 shares of the firm’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $90.42, for a total transaction of $376,780.14. The disclosure for this sale can be found here. Insiders sold 27,917 shares of company stock worth $2,777,255 over the last three months. Insiders own 3.00% of the company’s stock.
CNC has been the topic of several analyst reports. Morgan Stanley upped their price target on shares of Centene from $94.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, September 21st. Oppenheimer reaffirmed a “buy” rating and set a $105.00 price target on shares of Centene in a research report on Friday, September 29th. Jefferies Group upped 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. BMO Capital Markets initiated coverage on shares of Centene in a research report on Tuesday, October 17th. They set an “outperform” rating and a $120.00 price target on the stock. Finally, Cowen reaffirmed a “buy” rating and set a $115.00 price target on shares of Centene in a research report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $104.21.
Shares of Centene Corporation (NYSE:CNC) traded up $2.05 on Thursday, hitting $111.35. 1,217,300 shares of the stock traded hands, compared to its average volume of 1,081,236. The company has a market capitalization of $18,861.52, a price-to-earnings ratio of 22.82, a PEG ratio of 1.35 and a beta of 0.70. Centene Corporation has a 52 week low of $61.37 and a 52 week high of $111.72. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.99 and a quick ratio of 0.99.
Centene (NYSE:CNC) last issued its quarterly earnings data on Tuesday, October 24th. The company reported $1.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.11. The company had revenue of $11.90 billion for the quarter, compared to analyst estimates of $11.75 billion. Centene had a net margin of 1.81% and a return on equity of 14.79%. The company’s revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.12 earnings per share. sell-side analysts expect that Centene Corporation will post 5 EPS for the current year.
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Centene 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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