Element Capital Management LLC Acquires New Position in Centene Corp (NYSE:CNC)

Element Capital Management LLC purchased a new stake in Centene Corp (NYSE:CNC) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 436,812 shares of the company’s stock, valued at approximately $44,066,000. Centene makes up 0.9% of Element Capital Management LLC’s holdings, making the stock its 29th biggest holding. Element Capital Management LLC owned about 0.25% of Centene as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its position in Centene by 4.6% during the fourth quarter. BlackRock Inc. now owns 13,939,406 shares of the company’s stock worth $1,406,209,000 after purchasing an additional 616,914 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Centene by 47.8% in the third quarter. Ameriprise Financial Inc. now owns 5,181,047 shares of the company’s stock valued at $502,999,000 after acquiring an additional 1,676,688 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Centene by 6.7% in the third quarter. Dimensional Fund Advisors LP now owns 2,398,997 shares of the company’s stock valued at $232,137,000 after acquiring an additional 149,743 shares during the period. Geode Capital Management LLC boosted its position in shares of Centene by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 2,252,890 shares of the company’s stock valued at $226,889,000 after acquiring an additional 72,566 shares during the period. Finally, Deutsche Bank AG boosted its position in shares of Centene by 19.1% in the fourth quarter. Deutsche Bank AG now owns 1,775,194 shares of the company’s stock valued at $179,077,000 after acquiring an additional 284,620 shares during the period. 90.54% of the stock is owned by institutional investors and hedge funds.

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In other Centene news, EVP Christopher D. Bowers sold 4,800 shares of the company’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $102.27, for a total value of $490,896.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert K. Ditmore sold 8,750 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $104.13, for a total value of $911,137.50. The disclosure for this sale can be found here. Insiders have sold a total of 22,300 shares of company stock valued at $2,314,659 in the last three months. 3.00% of the stock is owned by insiders.

CNC traded down $1.92 during trading on Friday, hitting $107.03. The stock had a trading volume of 1,142,546 shares, compared to its average volume of 1,581,461. The company has a market capitalization of $19,095.95, a PE ratio of 21.28, a price-to-earnings-growth ratio of 1.04 and a beta of 0.75. Centene Corp has a one year low of $70.04 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 0.93.

Centene (NYSE:CNC) last released its earnings results on Tuesday, February 6th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. The firm had revenue of $12.81 billion during the quarter, compared to the consensus estimate of $12.25 billion. Centene had a return on equity of 13.68% and a net margin of 1.71%. The company’s revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.19 EPS. equities analysts anticipate that Centene Corp will post 7.2 earnings per share for the current fiscal year.

CNC has been the subject of a number of recent research reports. Cantor Fitzgerald restated a “buy” rating and issued a $115.00 target price on shares of Centene in a research note 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 note 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 note on Wednesday, December 20th. ValuEngine upgraded Centene from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Zacks Investment Research cut Centene from a “strong-buy” rating to a “hold” rating in a report on Friday, December 22nd. Three investment analysts have rated the stock with a hold rating, seventeen have given 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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About Centene

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.

Institutional Ownership by Quarter for Centene (NYSE:CNC)

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