Alliancebernstein L.P. lifted its holdings in shares of Centene Corp (NYSE:CNC) by 11.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 378,859 shares of the company’s stock after buying an additional 37,610 shares during the period. Alliancebernstein L.P. owned about 0.22% of Centene worth $38,219,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the company. Nationwide Fund Advisors lifted its stake in Centene by 1.5% in the 3rd quarter. Nationwide Fund Advisors now owns 81,148 shares of the company’s stock valued at $7,853,000 after purchasing an additional 1,223 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Centene by 121.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 9,316 shares of the company’s stock valued at $902,000 after purchasing an additional 5,102 shares during the last quarter. American Century Companies Inc. lifted its stake in Centene by 176.0% in the 3rd quarter. American Century Companies Inc. now owns 8,974 shares of the company’s stock valued at $868,000 after purchasing an additional 5,723 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Centene by 73.5% in the 3rd quarter. Principal Financial Group Inc. now owns 492,498 shares of the company’s stock valued at $47,659,000 after purchasing an additional 208,608 shares during the last quarter. Finally, Global X MANAGEMENT CO LLC lifted its stake in Centene by 11.8% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 6,757 shares of the company’s stock valued at $654,000 after purchasing an additional 711 shares during the last quarter. Institutional investors own 90.54% of the company’s stock.
Several equities research analysts recently issued reports on the stock. Morgan Stanley raised their target price on shares of Centene from $118.00 to $126.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. ValuEngine upgraded shares of Centene from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Goldman Sachs initiated coverage on shares of Centene in a research note on Wednesday, January 3rd. They issued a “buy” rating and a $135.00 target price for the company. Credit Suisse Group increased their price target on shares of Centene from $110.00 to $112.00 and gave the company a “neutral” rating in a report on Wednesday, February 7th. Finally, Oppenheimer reissued a “buy” rating and issued a $111.00 price target on shares of Centene in a report on Friday, December 15th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $110.28.
Shares of CNC traded down $1.92 during mid-day trading on Friday, hitting $107.03. 1,142,452 shares of the company’s stock were exchanged, compared to its average volume of 1,581,461. Centene Corp has a 52 week low of $70.04 and a 52 week high of $112.42. The stock has a market capitalization of $19,095.95, a PE ratio of 21.28, a P/E/G ratio of 1.04 and a beta of 0.75. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.68.
Centene (NYSE:CNC) last announced its earnings results on Tuesday, February 6th. The company reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.03. Centene had a net margin of 1.71% and a return on equity of 13.68%. The company had revenue of $12.81 billion for the quarter, compared to analysts’ expectations of $12.25 billion. During the same period last year, the firm earned $1.19 earnings per share. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. equities research analysts predict that Centene Corp will post 7.2 earnings per share for the current fiscal year.
In related news, EVP Christopher D. Bowers sold 4,800 shares of Centene stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $102.27, for a total value of $490,896.00. The sale was disclosed in a legal filing with the SEC, which is available 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 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 have sold 22,300 shares of company stock worth $2,314,659 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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