Deroy & Devereaux Private Investment Counsel Inc. reduced its position in shares of Centene Corporation (NYSE:CNC) by 1.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 35,650 shares of the company’s stock after selling 350 shares during the period. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Centene Corporation were worth $2,848,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in CNC. BlackRock Inc. boosted its stake in shares of 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 during the period. OppenheimerFunds Inc. raised its position 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. raised its position 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 raised its position 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 acquired a new position in Centene Corporation during the first quarter worth approximately $55,478,000. Hedge funds and other institutional investors own 93.61% of the company’s stock.
Centene Corporation (CNC) opened at 82.14 on Friday. The company’s 50 day moving average price is $82.24 and its 200-day moving average price is $74.50. The company has a market capitalization of $14.17 billion, a P/E ratio of 18.03 and a beta of 0.66. Centene Corporation has a 12-month low of $50.00 and a 12-month high of $87.94.
Centene Corporation (NYSE:CNC) last announced its quarterly earnings results on Tuesday, July 25th. The company reported $1.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.29. The company had revenue of $11.95 billion during the quarter, compared to the consensus estimate of $11.69 billion. Centene Corporation had a net margin of 1.72% and a return on equity of 14.62%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.29 earnings per share. Equities analysts forecast that Centene Corporation will post $4.92 earnings per share for the current fiscal year.
A number of equities analysts have commented on CNC shares. Zacks Investment Research lowered Centene Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th. Morgan Stanley began coverage on Centene Corporation in a research note on Tuesday, June 6th. They issued an “overweight” rating and a $86.00 price objective on the stock. Evercore ISI upped their price target on Centene Corporation from $80.00 to $83.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Credit Suisse Group reaffirmed a “neutral” rating and set a $81.00 price target (up previously from $78.00) on shares of Centene Corporation in a research note on Monday, June 19th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $79.00 price target on shares of Centene Corporation in a research note on Wednesday, April 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the stock. Centene Corporation currently has an average rating of “Buy” and an average price target of $86.82.
In other Centene Corporation news, SVP Mark J. Brooks sold 2,161 shares of Centene Corporation stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $75.43, for a total value of $163,004.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christopher D. Bowers sold 4,000 shares of Centene Corporation stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $79.43, for a total transaction of $317,720.00. The disclosure for this sale can be found here. Insiders have sold 53,578 shares of company stock valued at $4,264,757 in the last three months. 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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