Raymond James Trust N.A. bought a new stake in Centene Corp (NYSE:CNC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,687 shares of the company’s stock, valued at approximately $232,000.
Other institutional investors have also added to or reduced their stakes in the company. CENTRAL TRUST Co grew its stake in shares of Centene by 28.8% during the 3rd quarter. CENTRAL TRUST Co now owns 43,135 shares of the company’s stock worth $1,867,000 after purchasing an additional 9,657 shares during the period. Corient Capital Partners LLC boosted its holdings in Centene by 13.7% during the third quarter. Corient Capital Partners LLC now owns 8,780 shares of the company’s stock worth $380,000 after buying an additional 1,060 shares in the last quarter. California State Teachers Retirement System boosted its holdings in Centene by 1.4% during the third quarter. California State Teachers Retirement System now owns 660,080 shares of the company’s stock worth $28,555,000 after buying an additional 9,156 shares in the last quarter. Man Group plc grew its position in Centene by 958.2% during the third quarter. Man Group plc now owns 819,037 shares of the company’s stock worth $35,431,000 after buying an additional 741,637 shares during the period. Finally, Neo Ivy Capital Management acquired a new position in Centene during the third quarter worth about $639,000. 97.83% of the stock is owned by institutional investors.
Shares of CNC opened at $64.54 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a 50 day simple moving average of $61.73 and a 200-day simple moving average of $52.67. Centene Corp has a 1-year low of $41.62 and a 1-year high of $69.25. The stock has a market cap of $26.95 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 0.95 and a beta of 0.91.
Centene (NYSE:CNC) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.01. Centene had a return on equity of 15.54% and a net margin of 1.87%. The firm had revenue of $18.98 billion during the quarter, compared to the consensus estimate of $18.39 billion. During the same period in the previous year, the firm posted $1.79 EPS. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. On average, equities analysts expect that Centene Corp will post 4.42 earnings per share for the current fiscal year.
A number of equities research analysts have recently issued reports on CNC shares. ValuEngine upgraded shares of Centene from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Piper Jaffray Companies restated a “buy” rating and issued a $80.00 price target on shares of Centene in a report on Monday, December 16th. Zacks Investment Research downgraded Centene from a “hold” rating to a “sell” rating and set a $50.00 price objective for the company. in a research note on Friday, October 18th. BMO Capital Markets lifted their price objective on Centene from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Finally, Credit Suisse Group boosted their target price on Centene from $57.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $71.31.
In other Centene news, Director Tommy G. Thompson sold 500 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $62.98, for a total value of $31,490.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael F. Neidorff sold 75,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.00, for a total transaction of $4,275,000.00. Following the sale, the chief executive officer now directly owns 7,368,000 shares in the company, valued at $419,976,000. The disclosure for this sale can be found here. Insiders have sold 285,519 shares of company stock valued at $16,416,060 in the last three months. 2.50% of the stock is currently owned by company insiders.
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.
Further Reading: Asset Allocation, Balancing Your Investments
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