Bank of The West raised its position in shares of Centene Corporation (NYSE:CNC) by 7.5% during the 4th quarter, HoldingsChannel reports. The fund owned 25,583 shares of the company’s stock after purchasing an additional 1,775 shares during the period. Bank of The West’s holdings in Centene were worth $2,581,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of CNC. GSA Capital Partners LLP purchased a new stake in shares of Centene during the 2nd quarter worth approximately $283,000. Janus Henderson Group PLC raised its holdings in shares of Centene by 320.5% during the 2nd quarter. Janus Henderson Group PLC now owns 102,870 shares of the company’s stock worth $8,216,000 after acquiring an additional 78,409 shares in the last quarter. Gotham Asset Management LLC raised its holdings in shares of Centene by 3.4% during the 2nd quarter. Gotham Asset Management LLC now owns 26,192 shares of the company’s stock worth $2,092,000 after acquiring an additional 857 shares in the last quarter. State Street Corp raised its holdings in shares of Centene by 0.5% during the 2nd quarter. State Street Corp now owns 7,154,348 shares of the company’s stock worth $571,504,000 after acquiring an additional 35,040 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Centene during the 2nd quarter valued at approximately $455,000. 92.41% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on the company. Citigroup reissued an “outperform” rating and set a $130.00 target price (up previously from $122.00) on shares of Centene in a research report on Wednesday. Morgan Stanley boosted their target price on Centene from $118.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday. Cantor Fitzgerald boosted their target price on Centene from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday. Credit Suisse Group boosted their target price on Centene from $110.00 to $112.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Cowen reissued a “buy” rating and set a $115.00 target price on shares of Centene in a research report on Tuesday, October 24th. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Centene presently has an average rating of “Buy” and an average target price of $108.63.
Centene (NYSE:CNC) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.03. The company had revenue of $12.81 billion for the quarter, compared to the consensus estimate of $12.25 billion. Centene had a return on equity of 14.79% and a net margin of 1.81%. Centene’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.19 EPS. equities research analysts expect that Centene Corporation will post 5 earnings per share for the current fiscal year.
In other Centene news, EVP Jesse N. Hunter sold 10,000 shares of the company’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $98.73, for a total value of $987,300.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert K. Ditmore sold 8,750 shares of the company’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $104.30, for a total value of $912,625.00. The disclosure for this sale can be found here. Insiders sold a total of 23,750 shares of company stock worth $2,400,475 in the last ninety days. 3.00% of the stock is currently owned by corporate insiders.
Centene 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.
Want to see what other hedge funds are holding CNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Centene Corporation (NYSE:CNC).
Receive News & Ratings for Centene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Centene and related companies with MarketBeat.com's FREE daily email newsletter.