Meiji Yasuda Life Insurance Co Buys New Position in Centene Corp (NYSE:CNC)

Meiji Yasuda Life Insurance Co bought a new position in Centene Corp (NYSE:CNC) in the 1st quarter, HoldingsChannel reports. The firm bought 7,040 shares of the company’s stock, valued at approximately $374,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Centene by 101.6% in the 1st quarter. BlackRock Inc. now owns 36,536,247 shares of the company’s stock worth $1,940,075,000 after acquiring an additional 18,409,531 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in Centene by 15,334.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,787,010 shares of the company’s stock valued at $85,000 after buying an additional 9,723,601 shares during the period. Northern Trust Corp grew its position in Centene by 103.3% during the first quarter. Northern Trust Corp now owns 4,704,989 shares of the company’s stock valued at $249,834,000 after buying an additional 2,390,842 shares during the period. Janus Henderson Group PLC grew its position in Centene by 114.3% during the first quarter. Janus Henderson Group PLC now owns 4,657,134 shares of the company’s stock valued at $247,296,000 after buying an additional 2,484,279 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Centene by 88.8% during the first quarter. Dimensional Fund Advisors LP now owns 4,254,295 shares of the company’s stock valued at $225,899,000 after buying an additional 2,000,546 shares during the period. Hedge funds and other institutional investors own 90.75% of the company’s stock.

Several equities analysts recently weighed in on CNC shares. Cowen started coverage on shares of Centene in a research report on Thursday, February 28th. They set an “outperform” rating and a $77.00 price target for the company. Morgan Stanley reduced their price target on shares of Centene from $83.00 to $75.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. Citigroup upgraded shares of Centene from a “neutral” rating to a “buy” rating and set a $69.00 price target for the company in a research report on Friday, May 10th. ValuEngine lowered shares of Centene from a “sell” rating to a “strong sell” rating in a research report on Thursday, May 2nd. Finally, SunTrust Banks reduced their price target on shares of Centene to $80.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $75.69.

Shares of Centene stock opened at $53.54 on Friday. Centene Corp has a 12-month low of $45.44 and a 12-month high of $74.49. The stock has a market capitalization of $22.19 billion, a PE ratio of 15.12, a PEG ratio of 0.91 and a beta of 1.00. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58.

Centene (NYSE:CNC) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.07. Centene had a net margin of 1.66% and a return on equity of 14.60%. The firm had revenue of $18.44 billion for the quarter, compared to the consensus estimate of $17.44 billion. During the same period in the prior year, the firm posted $2.17 earnings per share. The company’s revenue for the quarter was up 39.8% on a year-over-year basis. On average, analysts anticipate that Centene Corp will post 4.37 earnings per share for the current year.

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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. 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.

Further Reading: What are retained earnings?

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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