AGF Investments Inc. bought a new position in Centene Corporation (NYSE:CNC) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 491,446 shares of the company’s stock, valued at approximately $49,577,000. AGF Investments Inc. owned approximately 0.28% of Centene as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Ameriprise Financial Inc. increased its holdings in Centene by 47.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,181,047 shares of the company’s stock worth $502,999,000 after purchasing an additional 1,676,688 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Centene by 6.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,398,997 shares of the company’s stock worth $232,137,000 after purchasing an additional 149,743 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Centene by 5.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,274,681 shares of the company’s stock worth $123,351,000 after purchasing an additional 63,688 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Centene by 68.2% in the 4th quarter. Acadian Asset Management LLC now owns 1,239,278 shares of the company’s stock worth $125,021,000 after purchasing an additional 502,329 shares in the last quarter. Finally, Epoch Investment Partners Inc. increased its holdings in Centene by 298.0% in the 3rd quarter. Epoch Investment Partners Inc. now owns 997,346 shares of the company’s stock worth $96,513,000 after purchasing an additional 746,783 shares in the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Jesse N. Hunter sold 10,000 shares of the company’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $98.73, for a total transaction of $987,300.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Keith H. Williamson sold 5,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $100.11, for a total value of $500,550.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,500 shares of company stock worth $3,311,613. 3.00% of the stock is owned by corporate insiders.
Shares of Centene Corporation (NYSE CNC) opened at $103.09 on Tuesday. Centene Corporation has a one year low of $65.03 and a one year high of $112.42. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.93 and a quick ratio of 0.99. The firm has a market capitalization of $17,790.00, a PE ratio of 21.98, a PEG ratio of 0.96 and a beta of 0.71.
Centene (NYSE:CNC) last announced its earnings results on Tuesday, February 6th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. Centene had a return on equity of 13.68% and a net margin of 1.71%. The company had revenue of $12.81 billion for the quarter, compared to analyst estimates of $12.25 billion. During the same quarter in the prior year, the company earned $1.19 EPS. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. sell-side analysts expect that Centene Corporation will post 7.23 EPS for the current year.
CNC has been the subject of a number of recent research reports. Zacks Investment Research raised Centene from a “hold” rating to a “strong-buy” rating and set a $117.00 target price for the company in a report on Tuesday, December 26th. Oppenheimer increased their price target on Centene from $111.00 to $122.00 and gave the company an “outperform” rating in a research note on Wednesday, December 20th. Cowen reissued a “buy” rating and issued a $115.00 price target on shares of Centene in a research note on Tuesday, October 24th. Credit Suisse Group initiated coverage on Centene in a research note on Thursday, November 2nd. They issued a “neutral” rating and a $102.00 price target for the company. Finally, Jefferies Group increased their price target on Centene from $112.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, December 18th. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Centene presently has an average rating of “Buy” and a consensus target price of $110.28.
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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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