Schwab Charles Investment Management Inc. lifted its holdings in Centene Co. (NYSE:CNC) by 16.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 823,184 shares of the company’s stock after buying an additional 114,750 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.46% of Centene worth $87,974,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in CNC. BlackRock Inc. boosted its stake in shares of Centene by 4.6% in 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. Acadian Asset Management LLC raised its holdings in shares of Centene by 68.2% in the 4th quarter. Acadian Asset Management LLC now owns 1,239,278 shares of the company’s stock worth $125,021,000 after purchasing an additional 502,329 shares during the period. AGF Investments Inc. bought a new stake in shares of Centene in the 4th quarter worth approximately $49,577,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Centene by 2,219.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 500,937 shares of the company’s stock worth $50,535,000 after purchasing an additional 479,337 shares during the period. Finally, Mackay Shields LLC bought a new stake in shares of Centene in the 1st quarter worth approximately $46,698,000. Hedge funds and other institutional investors own 77.63% of the company’s stock.
A number of research firms recently commented on CNC. Morgan Stanley lifted their price target on shares of Centene from $126.00 to $127.00 and gave the stock an “overweight” rating in a report on Wednesday, April 25th. Zacks Investment Research cut shares of Centene from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 10th. ValuEngine raised shares of Centene from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Cantor Fitzgerald lifted their price target on shares of Centene from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Finally, Credit Suisse Group lifted their price target on shares of Centene from $110.00 to $112.00 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $113.63.
In other news, EVP Keith H. Williamson sold 1,000 shares of the company’s stock in a transaction on Wednesday, May 2nd. The shares were sold at an average price of $115.00, for a total value of $115,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Christopher D. Bowers sold 4,800 shares of the company’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $102.27, for a total transaction of $490,896.00. The disclosure for this sale can be found here. Insiders have sold a total of 265,550 shares of company stock worth $28,712,209 in the last three months. Insiders own 3.00% of the company’s stock.
Shares of CNC stock opened at $113.10 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. Centene Co. has a 1 year low of $112.82 and a 1 year high of $114.23. The firm has a market cap of $23.54 billion, a price-to-earnings ratio of 22.49, a price-to-earnings-growth ratio of 1.11 and a beta of 0.75.
Centene (NYSE:CNC) last issued its earnings results on Tuesday, April 24th. The company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.25. Centene had a net margin of 2.06% and a return on equity of 15.69%. The business had revenue of $13.19 billion for the quarter, compared to analysts’ expectations of $13.33 billion. During the same quarter in the previous year, the firm posted $1.12 EPS. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. sell-side analysts expect that Centene Co. will post 7.07 EPS for the current fiscal year.
Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. It operates through two segments, Managed Care and Specialty Services. The Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term care, foster care, and dual eligible individual, as well as aged, blind, or disabled programs.
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