TCW Group Inc. raised its holdings in shares of Centene Corporation (NYSE:CNC) by 23.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 899,180 shares of the company’s stock after acquiring an additional 168,931 shares during the period. TCW Group Inc. owned about 0.52% of Centene Corporation worth $87,014,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of CNC. Mckinley Capital Management LLC Delaware bought a new position in Centene Corporation during the second quarter valued at approximately $101,000. Seven Bridges Advisors LLC bought a new position in Centene Corporation during the second quarter valued at approximately $123,000. IFP Advisors Inc grew its position in Centene Corporation by 9.6% during the second quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock valued at $155,000 after acquiring an additional 170 shares during the last quarter. Baldwin Brothers Inc. MA bought a new position in Centene Corporation during the third quarter valued at approximately $185,000. Finally, MV Capital Management Inc. bought a new position in Centene Corporation during the second quarter valued at approximately $186,000. Institutional investors and hedge funds own 93.43% of the company’s stock.
Shares of Centene Corporation (NYSE CNC) traded up $0.68 during mid-day trading on Tuesday, reaching $94.36. The company had a trading volume of 1,528,000 shares, compared to its average volume of 1,709,465. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $16,166.03, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67. Centene Corporation has a 12 month low of $51.21 and a 12 month high of $98.71.
Centene Corporation (NYSE:CNC) last posted its quarterly earnings data on Tuesday, October 24th. The company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.11. The business had revenue of $11.90 billion during the quarter, compared to the consensus estimate of $11.75 billion. Centene Corporation had a return on equity of 14.79% and a net margin of 1.81%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.12 earnings per share. research analysts predict that Centene Corporation will post 4.98 EPS for the current year.
In other Centene Corporation news, Director Robert K. Ditmore sold 4,167 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $90.42, for a total value of $376,780.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.00% of the stock is currently owned by corporate insiders.
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A number of research analysts have commented on CNC shares. Cantor Fitzgerald reiterated a “buy” rating and set a $90.00 price target on shares of Centene Corporation in a research report on Tuesday, July 25th. Morgan Stanley reiterated an “overweight” rating and set a $94.00 price target (up from $86.00) on shares of Centene Corporation in a research report on Wednesday, July 26th. UBS AG reiterated a “buy” rating and set a $95.00 price target (up from $88.00) on shares of Centene Corporation in a research report on Wednesday, July 26th. Citigroup Inc. increased their price target on shares of Centene Corporation from $80.00 to $89.00 and gave the company a “sell” rating in a research report on Wednesday, July 26th. Finally, ValuEngine raised Centene Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $97.53.
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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