First National Bank of Omaha held its stake in Centene Corporation (NYSE:CNC) during the second quarter, Holdings Channel reports. The institutional investor owned 42,000 shares of the company’s stock at the end of the second quarter. First National Bank of Omaha’s holdings in Centene Corporation were worth $4,489,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position 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 valued at $1,105,275,000 after buying an additional 15,068,340 shares during the last quarter. OppenheimerFunds Inc. increased its position in shares of Centene Corporation by 271.2% in the first quarter. OppenheimerFunds Inc. now owns 1,799,160 shares of the company’s stock valued at $128,208,000 after buying an additional 1,314,514 shares during the last quarter. Pioneer Investment Management Inc. increased its position in shares of 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 valued at $97,603,000 after buying an additional 1,285,885 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Centene Corporation by 108.0% in the first quarter. AQR Capital Management LLC now owns 2,088,867 shares of the company’s stock valued at $148,853,000 after buying an additional 1,084,628 shares during the last quarter. Finally, Wellington Management Group LLP bought a new position in shares of Centene Corporation during the first quarter valued at approximately $55,478,000. 93.30% of the stock is currently owned by institutional investors.
Shares of Centene Corporation (NYSE:CNC) traded up 0.91% during mid-day trading on Thursday, reaching $85.42. The company had a trading volume of 438,724 shares. The firm has a 50-day moving average of $79.81 and a 200-day moving average of $72.20. The company has a market capitalization of $14.72 billion, a P/E ratio of 21.03 and a beta of 0.68. Centene Corporation has a 12-month low of $50.00 and a 12-month high of $85.79.
Centene Corporation (NYSE:CNC) last issued its quarterly earnings data on Tuesday, April 25th. The company reported $1.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.06. Centene Corporation had a net margin of 1.57% and a return on equity of 14.19%. The business had revenue of $11.72 billion during the quarter, compared to analyst estimates of $11.44 billion. During the same period last year, the business posted $0.74 earnings per share. Centene Corporation’s quarterly revenue was up 68.6% compared to the same quarter last year. On average, equities analysts anticipate that Centene Corporation will post $4.80 earnings per share for the current fiscal year.
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Several brokerages have commented on CNC. BidaskClub raised Centene Corporation from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 24th. Bank of America Corporation lifted their target price on Centene Corporation from $93.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, July 14th. Jefferies Group LLC reaffirmed a “buy” rating and set a $94.00 target price on shares of Centene Corporation in a report on Friday, July 14th. Deutsche Bank AG lifted their target price on Centene Corporation from $84.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, July 13th. Finally, Zacks Investment Research raised Centene Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 10th. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Centene Corporation currently has an average rating of “Buy” and a consensus price target of $81.74.
In other Centene Corporation news, Director Robert K. Ditmore sold 4,167 shares of the firm’s stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $72.43, for a total value of $301,815.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mark J. Brooks sold 2,161 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 transaction of $163,004.23. The disclosure for this sale can be found here. Insiders sold 57,728 shares of company stock valued at $4,506,020 over the last 90 days. 3.00% of the stock is currently 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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