Chase Investment Counsel Corp raised its stake in Centene Corp. (NYSE:CNC) by 67.0% during the second quarter, Holdings Channel reports. The fund owned 15,210 shares of the company’s stock after buying an additional 6,100 shares during the period. Chase Investment Counsel Corp’s holdings in Centene Corp. were worth $1,085,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of CNC. State Street Corp increased its stake in Centene Corp. by 82.3% in the first quarter. State Street Corp now owns 7,158,347 shares of the company’s stock valued at $440,733,000 after buying an additional 3,230,862 shares during the last quarter. Norges Bank acquired a new stake in Centene Corp. during the fourth quarter valued at approximately $85,189,000. JPMorgan Chase & Co. increased its stake in shares of Centene Corp. by 72.8% in the first quarter. JPMorgan Chase & Co. now owns 2,919,446 shares of the company’s stock worth $179,748,000 after buying an additional 1,230,263 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Centene Corp. by 30.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,534,338 shares of the company’s stock worth $279,179,000 after buying an additional 1,048,631 shares during the last quarter. Finally, TimesSquare Capital Management LLC increased its stake in shares of Centene Corp. by 127.9% in the first quarter. TimesSquare Capital Management LLC now owns 1,295,100 shares of the company’s stock worth $79,739,000 after buying an additional 726,900 shares during the last quarter. 92.92% of the stock is owned by institutional investors.
Centene Corp. (NYSE:CNC) traded up 1.39% during mid-day trading on Tuesday, reaching $69.08. 844,244 shares of the company’s stock traded hands. The company has a market cap of $11.79 billion, a P/E ratio of 26.66 and a beta of 1.00. Centene Corp. has a 12-month low of $47.36 and a 12-month high of $75.57. The stock has a 50 day moving average of $68.42 and a 200 day moving average of $65.50.
Centene Corp. (NYSE:CNC) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.20. Centene Corp. had a net margin of 1.19% and a return on equity of 14.27%. The firm earned $10.90 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same period in the previous year, the business posted $0.72 earnings per share. The business’s revenue for the quarter was up 97.9% on a year-over-year basis. On average, equities research analysts predict that Centene Corp. will post $4.37 earnings per share for the current fiscal year.
A number of equities research analysts have issued reports on CNC shares. Barclays PLC upped their price objective on shares of Centene Corp. from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 1st. Vetr downgraded shares of Centene Corp. from a “strong-buy” rating to a “buy” rating and set a $72.50 price objective for the company. in a research report on Thursday, June 2nd. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Centene Corp. in a research report on Saturday, June 4th. Jefferies Group reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Centene Corp. in a research report on Wednesday, June 8th. Finally, Sanford C. Bernstein started coverage on shares of Centene Corp. in a research report on Thursday, June 16th. They issued a “market perform” rating and a $76.00 price objective for the company. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $80.88.
In other news, EVP Kenneth Rone Baldwin sold 6,000 shares of Centene Corp. stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $71.00, for a total value of $426,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard A. Gephardt sold 15,910 shares of Centene Corp. stock in a transaction that occurred on Wednesday, June 29th. The stock was sold at an average price of $68.89, for a total transaction of $1,096,039.90. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by insiders.
About Centene Corp.
Centene Corporation is a diversified healthcare company that provides programs and services to government sponsored healthcare programs. The Company also provides education and outreach programs to inform and assist members in accessing appropriate healthcare services. The Company operates through two segments.
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