Handelsbanken Fonder AB boosted its position in shares of Centene Corp (NYSE:CNC) by 7.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 190,500 shares of the company’s stock after acquiring an additional 12,500 shares during the period. Handelsbanken Fonder AB owned about 0.11% of Centene worth $19,218,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CNC. BlackRock Inc. lifted its position in shares of 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 last quarter. Dimensional Fund Advisors LP lifted its position in shares of Centene by 6.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,398,997 shares of the company’s stock worth $232,137,000 after buying an additional 149,743 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Centene by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 2,252,890 shares of the company’s stock worth $226,889,000 after buying an additional 72,566 shares during the last quarter. Deutsche Bank AG lifted its position in shares of Centene by 19.1% during the 4th quarter. Deutsche Bank AG now owns 1,775,194 shares of the company’s stock worth $179,077,000 after buying an additional 284,620 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of 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 last quarter. Institutional investors own 90.52% of the company’s stock.
Centene Corp (CNC) opened at $103.84 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market cap of $18,349.29, a price-to-earnings ratio of 22.14, a price-to-earnings-growth ratio of 1.01 and a beta of 0.76. Centene Corp has a 12 month low of $65.03 and a 12 month high of $112.42.
Centene (NYSE:CNC) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.03. The company had revenue of $12.81 billion for the quarter, compared to analysts’ expectations of $12.25 billion. Centene had a net margin of 1.71% and a return on equity of 13.68%. Centene’s revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.19 EPS. equities research analysts anticipate that Centene Corp will post 7.2 earnings per share for the current fiscal year.
Several brokerages have recently weighed in on CNC. ValuEngine upgraded shares of Centene from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Morgan Stanley boosted their price objective on shares of Centene from $118.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Credit Suisse Group boosted their price objective on shares of Centene from $110.00 to $112.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Cantor Fitzgerald boosted their price objective on shares of Centene from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Finally, Citigroup restated an “outperform” rating and set a $130.00 price objective (up previously from $122.00) on shares of Centene in a research report on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $110.28.
In other Centene news, EVP Keith H. Williamson sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $100.11, for a total value of $500,550.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert K. Ditmore sold 8,750 shares of the business’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $104.30, for a total transaction of $912,625.00. The disclosure for this sale can be found here. Insiders sold a total of 27,300 shares of company stock worth $2,815,209 over the last three months. 3.00% of the stock is currently owned by corporate insiders.
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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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