ING Groep NV raised its stake in shares of 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 (SEC). The firm 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.
A number of other hedge funds have also added to or reduced their stakes in CNC. BNP Paribas Arbitrage SA raised its stake in Centene Corporation by 213.5% in the first quarter. BNP Paribas Arbitrage SA now owns 685,347 shares of the company’s stock valued at $48,838,000 after buying an additional 466,768 shares during the last quarter. Raymond James Trust N.A. raised its stake in Centene Corporation by 3.2% in the first quarter. Raymond James Trust N.A. now owns 4,451 shares of the company’s stock valued at $318,000 after buying an additional 139 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in Centene Corporation during the first quarter valued at $409,000. Tyers Asset Management LLC raised its stake in Centene Corporation by 434.4% in the first quarter. Tyers Asset Management LLC now owns 23,856 shares of the company’s stock valued at $1,700,000 after buying an additional 19,392 shares during the last quarter. Finally, Xact Kapitalforvaltning AB raised its stake in Centene Corporation by 4.2% in the first quarter. Xact Kapitalforvaltning AB now owns 30,398 shares of the company’s stock valued at $2,166,000 after buying an additional 1,212 shares during the last quarter. Hedge funds and other institutional investors own 93.09% of the company’s stock.
Shares of Centene Corporation (NYSE:CNC) traded down 0.16% during midday trading on Friday, reaching $83.49. 872,566 shares of the company’s stock were exchanged. The company has a market capitalization of $14.40 billion, a PE ratio of 18.32 and a beta of 0.66. The firm has a 50-day moving average of $82.43 and a 200-day moving average of $75.20. Centene Corporation has a 1-year low of $50.00 and a 1-year high of $87.94.
Centene Corporation (NYSE:CNC) last posted its quarterly earnings results on Tuesday, July 25th. The company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.29. The business had revenue of $11.95 billion for the quarter, compared to analysts’ expectations of $11.69 billion. Centene Corporation had a return on equity of 14.62% and a net margin of 1.72%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.29 earnings per share. Equities analysts expect that Centene Corporation will post $4.92 earnings per share for the current fiscal year.
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Several analysts have weighed in on CNC shares. Bank of America Corporation boosted their target price on shares of Centene Corporation from $93.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, July 14th. Jefferies Group LLC reiterated a “buy” rating and set a $85.00 target price (up previously from $83.00) on shares of Centene Corporation in a research note on Saturday, April 29th. ValuEngine upgraded shares of Centene Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 27th. BidaskClub downgraded shares of Centene Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Finally, Zacks Investment Research raised shares of Centene Corporation from a “hold” rating to a “strong-buy” rating and set a $97.00 price target for the company in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $86.82.
In related news, Director Robert K. Ditmore sold 3,900 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $75.43, for a total value of $294,177.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Christopher D. Bowers sold 4,000 shares of the firm’s 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 disclosure for this sale can be found here. In the last quarter, insiders sold 53,578 shares of company stock worth $4,264,757. 3.00% of the stock is owned by company 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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