Cerebellum GP LLC Invests $180,000 in Centene Corp (CNC) Stock

Cerebellum GP LLC acquired a new stake in shares of Centene Corp (NYSE:CNC) during the 2nd quarter, HoldingsChannel reports. The fund acquired 1,459 shares of the company’s stock, valued at approximately $180,000.

A number of other hedge funds have also recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its position in Centene by 1.0% during the 1st quarter. JPMorgan Chase & Co. now owns 2,725,000 shares of the company’s stock valued at $291,222,000 after purchasing an additional 26,402 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Centene by 0.8% during the 1st quarter. Northern Trust Corp now owns 1,994,281 shares of the company’s stock valued at $213,129,000 after acquiring an additional 16,383 shares during the last quarter. Deutsche Bank AG boosted its holdings 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 valued at $179,077,000 after acquiring an additional 284,620 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Centene by 8.1% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 1,508,601 shares of the company’s stock valued at $161,224,000 after acquiring an additional 113,569 shares during the last quarter. Finally, Guggenheim Capital LLC boosted its holdings in shares of Centene by 6.7% during the 4th quarter. Guggenheim Capital LLC now owns 926,418 shares of the company’s stock valued at $93,456,000 after acquiring an additional 58,162 shares during the last quarter. 76.19% of the stock is currently owned by institutional investors.

Centene traded up $2.03, reaching $127.21, on Thursday, according to Marketbeat.com. 41,622 shares of the stock were exchanged, compared to its average volume of 1,599,082. Centene Corp has a one year low of $79.06 and a one year high of $126.30. The stock has a market cap of $25.68 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 1.20 and a beta of 0.78. 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 (NYSE:CNC) last released its earnings results on Tuesday, April 24th. The company reported $2.17 EPS for the quarter, topping 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 company had revenue of $13.19 billion for the quarter, compared to analysts’ expectations of $13.33 billion. During the same quarter last year, the business earned $1.12 EPS. The firm’s revenue was up 12.5% compared to the same quarter last year. sell-side analysts forecast that Centene Corp will post 7.05 EPS for the current year.

In other Centene news, EVP Keith H. Williamson sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $120.00, for a total transaction of $240,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael F. Neidorff sold 250,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 26th. The stock was sold at an average price of $108.20, for a total transaction of $27,050,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 262,750 shares of company stock worth $28,461,313. 3.00% of the stock is owned by company insiders.

A number of brokerages have recently issued reports on CNC. Oppenheimer raised their price target on shares of Centene from $130.00 to $138.00 in a report on Monday, June 18th. Credit Suisse Group raised their price target on shares of Centene from $112.00 to $125.00 and gave the company a “neutral” rating in a report on Monday, June 18th. BMO Capital Markets raised their price target on shares of Centene to $150.00 and gave the company an “outperform” rating in a report on Monday, June 18th. Leerink Swann raised their price target on shares of Centene from $120.00 to $130.00 and gave the company a “market perform” rating in a report on Monday, June 18th. Finally, Cantor Fitzgerald raised their price target on shares of Centene to $137.00 and gave the company an “overweight” rating in a report on Monday, June 18th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $124.75.

Centene Profile

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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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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