ING Groep NV boosted its position in Centene Corporation (NYSE:CNC) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,239 shares of the company’s stock after buying an additional 48 shares during the period. ING Groep NV’s holdings in Centene Corporation were worth $1,058,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Centene Corporation by 3,408.1% in the first quarter. BlackRock Inc. now owns 15,510,470 shares of the company’s stock worth $1,105,275,000 after buying an additional 15,068,340 shares in the last quarter. OppenheimerFunds Inc. increased its stake in Centene Corporation by 271.2% in the first quarter. OppenheimerFunds Inc. now owns 1,799,160 shares of the company’s stock worth $128,208,000 after buying an additional 1,314,514 shares in the last quarter. Pioneer Investment Management Inc. increased its stake in Centene Corporation by 1,534.7% in the first quarter. Pioneer Investment Management Inc. now owns 1,369,670 shares of the company’s stock worth $97,603,000 after buying an additional 1,285,885 shares in the last quarter. AQR Capital Management LLC increased its stake in Centene Corporation by 108.0% in the first quarter. AQR Capital Management LLC now owns 2,088,867 shares of the company’s stock worth $148,853,000 after buying an additional 1,084,628 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in Centene Corporation during the first quarter worth about $55,478,000. 93.61% of the stock is owned by institutional investors and hedge funds.
Shares of Centene Corporation (NYSE CNC) traded up 0.90% during midday trading on Friday, reaching $82.14. The company’s stock had a trading volume of 767,728 shares. The company’s 50-day moving average price is $82.26 and its 200-day moving average price is $74.36. Centene Corporation has a 12 month low of $50.00 and a 12 month high of $87.94. The company has a market cap of $14.17 billion, a PE ratio of 18.03 and a beta of 0.66.
Centene Corporation (NYSE:CNC) last issued its quarterly earnings data on Tuesday, July 25th. The company reported $1.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.29. The firm had revenue of $11.95 billion during the quarter, compared to analyst estimates of $11.69 billion. Centene Corporation had a return on equity of 14.62% and a net margin of 1.72%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.29 earnings per share. On average, equities analysts anticipate that Centene Corporation will post $4.92 EPS for the current fiscal year.
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A number of analysts have issued reports on CNC shares. Zacks Investment Research downgraded Centene Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, May 10th. Morgan Stanley started coverage on Centene Corporation in a research report on Tuesday, June 6th. They issued an “overweight” rating and a $86.00 target price for the company. Evercore ISI raised their target price on Centene Corporation from $80.00 to $83.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 26th. Credit Suisse Group reiterated a “neutral” rating and issued a $81.00 price target (up from $78.00) on shares of Centene Corporation in a research report on Monday, June 19th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $79.00 price target on shares of Centene Corporation in a research report on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $86.82.
In related news, EVP Christopher D. Bowers sold 4,000 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $79.43, for a total value of $317,720.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert K. Ditmore sold 3,900 shares of the stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $75.43, for a total transaction of $294,177.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,578 shares of company stock valued at $4,264,757. 3.00% of the stock is owned by insiders.
Centene Corporation Company Profile
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.
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