Retirement Systems of Alabama lessened its holdings in shares of Centene Corporation (NYSE:CNC) by 2.3% in the fourth quarter, Holdings Channel reports. The fund owned 141,456 shares of the company’s stock after selling 3,282 shares during the period. Retirement Systems of Alabama’s holdings in Centene were worth $14,270,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of CNC. Janus Henderson Group PLC boosted its position in shares of Centene by 320.5% during the 2nd quarter. Janus Henderson Group PLC now owns 102,870 shares of the company’s stock valued at $8,216,000 after acquiring an additional 78,409 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Centene during the 2nd quarter valued at about $455,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Centene during the 2nd quarter valued at about $337,000. Toronto Dominion Bank boosted its position in shares of Centene by 25.7% during the 2nd quarter. Toronto Dominion Bank now owns 58,358 shares of the company’s stock valued at $4,661,000 after acquiring an additional 11,947 shares during the last quarter. Finally, Achmea Investment Management B.V. boosted its position in shares of Centene by 42.2% during the 2nd quarter. Achmea Investment Management B.V. now owns 11,010 shares of the company’s stock valued at $877,000 after acquiring an additional 3,267 shares during the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.
Centene Corporation (CNC) opened at $100.22 on Friday. 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 company has a market capitalization of $17,381.86, a P/E ratio of 21.37, a price-to-earnings-growth ratio of 0.96 and a beta of 0.71. Centene Corporation has a 12 month low of $65.03 and a 12 month high of $112.42.
Centene (NYSE:CNC) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.97 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.03. The business had revenue of $12.81 billion for the quarter, compared to analysts’ expectations of $12.25 billion. Centene had a return on equity of 13.68% and a net margin of 1.71%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.19 EPS. equities analysts predict that Centene Corporation will post 7.2 earnings per share for the current fiscal year.
A number of brokerages have recently issued reports on CNC. Leerink Swann reiterated a “market perform” rating and set a $90.00 price target (down previously from $100.00) on shares of Centene in a research report on Tuesday, February 13th. Cowen reiterated a “buy” rating and set a $115.00 price target on shares of Centene in a research report on Tuesday, October 24th. ValuEngine upgraded Centene from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Credit Suisse Group boosted their target price on Centene from $110.00 to $112.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Finally, Jefferies Group boosted their target price on Centene from $112.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, December 18th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Centene currently has an average rating of “Buy” and a consensus target price of $110.28.
In other Centene news, EVP Jesse N. Hunter sold 10,000 shares of Centene stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $98.73, for a total value of $987,300.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert K. Ditmore sold 8,750 shares of Centene stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $104.30, for a total value of $912,625.00. The disclosure for this sale can be found here. Insiders sold a total of 32,500 shares of company stock worth $3,311,613 over the last ninety days. Insiders own 3.00% of the company’s stock.
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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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