TD Asset Management Inc. grew its position in shares of Centene Corp (NYSE:CNC) by 7.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,405,125 shares of the company’s stock after buying an additional 102,332 shares during the quarter. TD Asset Management Inc. owned 0.34% of Centene worth $73,685,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. raised its position in Centene by 101.6% during the 1st quarter. BlackRock Inc. now owns 36,536,247 shares of the company’s stock worth $1,940,075,000 after buying an additional 18,409,531 shares during the last quarter. Northern Trust Corp raised its position in Centene by 103.3% during the 1st quarter. Northern Trust Corp now owns 4,704,989 shares of the company’s stock worth $249,834,000 after buying an additional 2,390,842 shares during the last quarter. FMR LLC raised its position in Centene by 89.6% during the 1st quarter. FMR LLC now owns 4,677,540 shares of the company’s stock worth $248,377,000 after buying an additional 2,209,884 shares during the last quarter. Janus Henderson Group PLC raised its position in Centene by 114.3% during the 1st quarter. Janus Henderson Group PLC now owns 4,657,134 shares of the company’s stock worth $247,296,000 after buying an additional 2,484,279 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Centene by 72.8% during the 1st quarter. Wells Fargo & Company MN now owns 4,130,361 shares of the company’s stock worth $219,322,000 after buying an additional 1,740,267 shares during the last quarter. Institutional investors own 89.86% of the company’s stock.
CNC has been the subject of a number of analyst reports. SunTrust Banks cut their price objective on shares of Centene to $80.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $83.00 price target on shares of Centene in a research note on Sunday, April 21st. Citigroup raised shares of Centene from a “neutral” rating to a “buy” rating and set a $69.00 price target on the stock in a research note on Friday, May 10th. ValuEngine cut shares of Centene from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 2nd. Finally, Zacks Investment Research cut shares of Centene from a “buy” rating to a “hold” rating and set a $59.00 price target on the stock. in a research note on Wednesday, May 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $75.26.
In other Centene news, Director Jessica L. Blume acquired 2,850 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were purchased at an average cost of $52.99 per share, with a total value of $151,021.50. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 2.50% of the stock is currently owned by corporate insiders.
Shares of NYSE:CNC traded down $1.97 on Wednesday, reaching $47.76. 156,352 shares of the company were exchanged, compared to its average volume of 6,366,863. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.58. Centene Corp has a 1-year low of $45.44 and a 1-year high of $74.49. The company has a market capitalization of $20.57 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 0.78 and a beta of 0.83. The stock’s 50-day simple moving average is $51.90.
Centene (NYSE:CNC) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $1.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.10. Centene had a net margin of 1.84% and a return on equity of 15.87%. The business had revenue of $18.36 billion for the quarter, compared to analysts’ expectations of $18.02 billion. During the same period in the prior year, the company posted $0.90 EPS. The business’s revenue for the quarter was up 29.4% on a year-over-year basis. As a group, analysts expect that Centene Corp will post 4.41 earnings per share for the current year.
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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