Itau Unibanco Holding S.A. decreased its holdings in shares of Centene Corporation (NYSE:CNC) by 8.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,345 shares of the company’s stock after selling 613 shares during the quarter. Itau Unibanco Holding S.A.’s holdings in Centene were worth $640,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in CNC. Ameriprise Financial Inc. lifted its holdings in Centene by 47.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,181,047 shares of the company’s stock valued at $502,999,000 after purchasing an additional 1,676,688 shares during the last quarter. Epoch Investment Partners Inc. increased its position in Centene by 298.0% during the 3rd quarter. Epoch Investment Partners Inc. now owns 997,346 shares of the company’s stock worth $96,513,000 after buying an additional 746,783 shares during the period. BlackRock Inc. increased its position in Centene by 4.6% during the 4th quarter. BlackRock Inc. now owns 13,939,406 shares of the company’s stock worth $1,406,209,000 after buying an additional 616,914 shares during the period. Acadian Asset Management LLC increased its position in Centene by 68.2% during the 4th quarter. Acadian Asset Management LLC now owns 1,239,278 shares of the company’s stock worth $125,021,000 after buying an additional 502,329 shares during the period. Finally, AGF Investments Inc. bought a new position in Centene during the 4th quarter worth $49,577,000. 93.03% of the stock is owned by institutional investors and hedge funds.
In other Centene news, Director Robert K. Ditmore sold 8,750 shares of Centene stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $104.30, for a total value of $912,625.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Keith H. Williamson sold 5,000 shares of Centene 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 quarter, insiders sold 32,500 shares of company stock worth $3,311,613. Company insiders own 3.00% of the company’s stock.
Centene Corporation (NYSE CNC) opened at $100.22 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.93 and a quick ratio of 0.99. Centene Corporation has a 12-month low of $65.03 and a 12-month high of $112.42. The company has a market capitalization of $17,381.86, a price-to-earnings ratio of 19.92, a P/E/G ratio of 0.96 and a beta of 0.71.
Centene (NYSE:CNC) last issued 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. 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 analysts’ expectations of $12.25 billion. During the same quarter last year, the business earned $1.19 earnings per share. Centene’s revenue was up 7.5% on a year-over-year basis. analysts expect that Centene Corporation will post 7.2 EPS for the current fiscal year.
CNC has been the topic of several recent research reports. Cantor Fitzgerald reiterated a “buy” rating and set a $115.00 price objective on shares of Centene in a research report on Monday, December 18th. Jefferies Group increased their price objective on Centene from $112.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, December 18th. Oppenheimer increased their price objective on Centene from $111.00 to $122.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 20th. ValuEngine upgraded Centene from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Zacks Investment Research cut Centene from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 22nd. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average 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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