Signition LP lifted its position in shares of Centene Corp (NYSE:CNC) by 29.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,613 shares of the company’s stock after acquiring an additional 2,394 shares during the period. Signition LP’s holdings in Centene were worth $1,537,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. FNY Investment Advisers LLC bought a new stake in shares of Centene during the third quarter valued at approximately $106,000. Fort L.P. bought a new stake in shares of Centene during the second quarter valued at approximately $122,000. IMA Wealth Inc. bought a new stake in shares of Centene during the second quarter valued at approximately $124,000. TRUE Private Wealth Advisors bought a new stake in shares of Centene during the third quarter valued at approximately $173,000. Finally, Steward Partners Investment Advisory LLC increased its position in shares of Centene by 127.2% during the second quarter. Steward Partners Investment Advisory LLC now owns 1,254 shares of the company’s stock valued at $155,000 after acquiring an additional 702 shares in the last quarter. 89.98% of the stock is owned by institutional investors.
CNC has been the subject of several analyst reports. MED initiated coverage on shares of Centene in a research report on Wednesday, September 19th. They set an “overweight” rating and a $170.00 price target for the company. Zacks Investment Research downgraded shares of Centene from a “buy” rating to a “hold” rating in a research report on Wednesday, August 1st. Piper Jaffray Companies restated a “buy” rating and issued a $152.00 target price on shares of Centene in a report on Wednesday, July 25th. Credit Suisse Group raised their target price on shares of Centene from $125.00 to $134.00 and gave the stock a “neutral” rating in a report on Wednesday, July 25th. Finally, Mitsubishi UFJ Financial Group assumed coverage on shares of Centene in a report on Wednesday, September 19th. They issued an “overweight” rating and a $170.00 target price on the stock. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Centene has an average rating of “Buy” and an average target price of $151.67.
In other news, EVP Keith H. Williamson sold 2,000 shares of Centene stock in a transaction on Friday, September 28th. The shares were sold at an average price of $145.00, for a total transaction of $290,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert K. Ditmore sold 15,000 shares of Centene stock in a transaction on Monday, September 10th. The stock was sold at an average price of $145.06, for a total transaction of $2,175,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 35,800 shares of company stock worth $4,957,590 in the last quarter. Corporate insiders own 3.00% of the company’s stock.
Shares of CNC stock opened at $132.51 on Friday. Centene Corp has a 12-month low of $90.07 and a 12-month high of $148.24. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $26.32 billion, a P/E ratio of 26.34, a P/E/G ratio of 1.21 and a beta of 0.82.
Centene (NYSE:CNC) last issued its earnings results on Tuesday, October 23rd. The company reported $1.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.77 by $0.02. The company had revenue of $16.18 billion for the quarter, compared to analysts’ expectations of $15.93 billion. Centene had a net margin of 1.58% and a return on equity of 14.42%. The firm’s quarterly revenue was up 36.0% on a year-over-year basis. During the same quarter last year, the company posted $1.35 earnings per share. As a group, equities analysts predict that Centene Corp will post 7.05 EPS for the current 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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