First Quadrant L P CA Increases Position in Centene Corp (NYSE:CNC)

First Quadrant L P CA lifted its position in shares of Centene Corp (NYSE:CNC) by 23.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 6,573 shares of the company’s stock after buying an additional 1,252 shares during the period. First Quadrant L P CA’s holdings in Centene were worth $418,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in CNC. Kistler Tiffany Companies LLC bought a new position in shares of Centene in the 2nd quarter worth about $28,000. Evolution Wealth Advisors LLC increased its position in shares of Centene by 118.7% in the 1st quarter. Evolution Wealth Advisors LLC now owns 551 shares of the company’s stock valued at $33,000 after acquiring an additional 299 shares during the period. Flagship Harbor Advisors LLC increased its position in shares of Centene by 113.9% in the 1st quarter. Flagship Harbor Advisors LLC now owns 708 shares of the company’s stock valued at $42,000 after acquiring an additional 377 shares during the period. Harwood Advisory Group LLC acquired a new position in shares of Centene in the 1st quarter valued at $45,000. Finally, Savior LLC grew its position in Centene by 49.2% during the 1st quarter. Savior LLC now owns 764 shares of the company’s stock worth $45,000 after purchasing an additional 252 shares during the period. 93.58% of the stock is currently owned by institutional investors and hedge funds.

Shares of Centene stock opened at $65.25 on Friday. The firm has a market capitalization of $37.79 billion, a PE ratio of 22.89, a P/E/G ratio of 0.97 and a beta of 0.73. Centene Corp has a twelve month low of $41.62 and a twelve month high of $74.70. The firm’s 50-day moving average price is $64.50 and its 200 day moving average price is $63.43. The company has a current ratio of 1.22, a quick ratio of 1.14 and a debt-to-equity ratio of 0.66.

Centene (NYSE:CNC) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $2.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.43 by ($0.03). The company had revenue of $27.71 billion during the quarter, compared to analysts’ expectations of $27.48 billion. Centene had a net margin of 1.70% and a return on equity of 14.07%. The company’s quarterly revenue was up 51.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.34 earnings per share. On average, sell-side analysts predict that Centene Corp will post 4.89 EPS for the current fiscal year.

In other Centene news, Director Robert K. Ditmore sold 33,333 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $65.31, for a total value of $2,176,978.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kenneth A. Burdick sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $67.09, for a total transaction of $2,348,150.00. The disclosure for this sale can be found here. Insiders sold a total of 222,861 shares of company stock worth $14,674,987 over the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Several equities research analysts have weighed in on the company. Deutsche Bank increased their price target on Centene from $80.00 to $87.00 and gave the stock a “buy” rating in a research report on Wednesday. TheStreet raised Centene from a “c+” rating to a “b” rating in a research report on Wednesday, April 8th. Zacks Investment Research downgraded Centene from a “buy” rating to a “hold” rating and set a $72.00 price target on the stock. in a research report on Thursday, April 16th. Bank of America reaffirmed a “buy” rating and set a $82.00 price target on shares of Centene in a research report on Wednesday, April 29th. Finally, Oppenheimer assumed coverage on Centene in a research report on Friday, June 12th. They set a “buy” rating and a $90.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $82.92.

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. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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