Acadian Asset Management LLC Buys 90,112 Shares of Centene Corp (CNC)

Acadian Asset Management LLC increased its stake in Centene Corp (NYSE:CNC) by 8.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,110,870 shares of the company’s stock after buying an additional 90,112 shares during the period. Acadian Asset Management LLC’s holdings in Centene were worth $160,835,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in Centene by 1.8% in the 1st quarter. Principal Financial Group Inc. now owns 515,596 shares of the company’s stock valued at $55,102,000 after acquiring an additional 8,920 shares in the last quarter. Allianz Asset Management GmbH lifted its position in Centene by 2.5% in the 1st quarter. Allianz Asset Management GmbH now owns 821,446 shares of the company’s stock valued at $87,787,000 after acquiring an additional 20,259 shares in the last quarter. Neville Rodie & Shaw Inc. bought a new position in Centene in the 2nd quarter valued at approximately $234,000. Cerebellum GP LLC bought a new position in Centene in the 2nd quarter valued at approximately $180,000. Finally, Gulf International Bank UK Ltd lifted its position in Centene by 21.9% in the 2nd quarter. Gulf International Bank UK Ltd now owns 63,406 shares of the company’s stock valued at $7,812,000 after acquiring an additional 11,410 shares in the last quarter. Institutional investors own 89.98% of the company’s stock.

In related news, EVP Keith H. Williamson sold 2,000 shares of the firm’s stock in a transaction on Friday, September 28th. The stock was sold at an average price of $145.00, for a total value of $290,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert K. Ditmore sold 15,000 shares of the firm’s stock in a transaction on Thursday, October 25th. The stock was sold at an average price of $129.24, for a total value of $1,938,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 35,800 shares of company stock worth $4,957,590 over the last three months. Insiders own 3.00% of the company’s stock.

Several research firms recently issued reports on CNC. Credit Suisse Group upped their price objective on Centene from $134.00 to $152.00 and gave the company a “neutral” rating in a research report on Tuesday, September 4th. Morgan Stanley upped their price objective on Centene from $138.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, September 5th. Oppenheimer upped their price objective on Centene from $146.00 to $158.00 and gave the company an “outperform” rating in a research report on Tuesday, October 2nd. MED upped their price objective on Centene from $146.00 to $158.00 and gave the company an “outperform” rating in a research report on Tuesday, October 2nd. Finally, Zacks Investment Research raised Centene from a “sell” rating to a “hold” rating in a research report on Thursday, October 4th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $151.67.

NYSE CNC opened at $128.15 on Wednesday. The firm has a market cap of $26.13 billion, a PE ratio of 25.48, a PEG ratio of 1.20 and a beta of 0.82. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. Centene Corp has a 1-year low of $90.07 and a 1-year high of $148.24.

Centene (NYSE:CNC) last released its quarterly earnings results on Tuesday, October 23rd. The company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.02. The firm had revenue of $16.18 billion for the quarter, compared to analysts’ expectations of $15.93 billion. Centene had a return on equity of 14.42% and a net margin of 1.58%. The company’s revenue was up 36.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.35 EPS. As a group, analysts forecast that Centene Corp will post 7.05 EPS for the current fiscal year.

About Centene

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. It operates through two segments, Managed Care and Specialty Services. The Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term care, foster care, and dual eligible individual, as well as aged, blind, or disabled programs.

See Also: What are Institutional Investors?

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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