CENTRAL TRUST Co raised its stake in Centene Corp (NYSE:CNC) by 5.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,838 shares of the company’s stock after buying an additional 215 shares during the quarter. CENTRAL TRUST Co’s holdings in Centene were worth $443,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Csenge Advisory Group acquired a new position in Centene in the third quarter valued at about $105,000. FNY Investment Advisers LLC acquired a new position in Centene in the third quarter valued at about $106,000. Capital Guardian Trust Co. acquired a new position in Centene in the third quarter valued at about $111,000. Resources Management Corp CT ADV acquired a new position in Centene in the third quarter valued at about $155,000. Finally, TRUE Private Wealth Advisors acquired a new position in Centene in the third quarter valued at about $173,000. 88.64% of the stock is currently owned by institutional investors.
A number of research analysts have commented on the stock. Zacks Investment Research raised shares of Centene from a “hold” rating to a “buy” rating and set a $133.00 target price on the stock in a research report on Friday. ValuEngine cut shares of Centene from a “buy” rating to a “hold” rating in a research report on Monday, December 17th. Cantor Fitzgerald reissued a “buy” rating and set a $145.00 price target on shares of Centene in a research report on Thursday, December 13th. Leerink Swann raised shares of Centene from a “market perform” rating to an “outperform” rating and set a $159.68 price target on the stock in a research report on Wednesday, October 24th. Finally, started coverage on shares of Centene in a research report on Wednesday, September 19th. They set an “overweight” rating and a $170.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Centene presently has an average rating of “Buy” and a consensus target price of $155.55.
Shares of CNC opened at $119.98 on Friday. The stock has a market cap of $24.28 billion, a PE ratio of 23.85, a price-to-earnings-growth ratio of 0.98 and a beta of 1.27. Centene Corp has a 1 year low of $97.61 and a 1 year high of $148.98. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03.
Centene (NYSE:CNC) last issued its earnings results on Tuesday, October 23rd. The company reported $1.79 earnings per share for the quarter, beating the Thomson Reuters’ 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 net margin of 1.58% and a return on equity of 14.42%. The firm’s revenue was up 36.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.35 earnings per share. As a group, analysts predict that Centene Corp will post 7.04 EPS for the current year.
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Centene Company Profile
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.
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