Royal London Asset Management Ltd. Sells 5,836 Shares of Centene Corp (NYSE:CNC)

Royal London Asset Management Ltd. cut its stake in Centene Corp (NYSE:CNC) by 3.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 161,078 shares of the company’s stock after selling 5,836 shares during the period. Royal London Asset Management Ltd.’s holdings in Centene were worth $8,445,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Geode Capital Management LLC raised its position in shares of Centene by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 2,883,859 shares of the company’s stock worth $331,969,000 after purchasing an additional 176,124 shares during the last quarter. American Century Companies Inc. raised its position in shares of Centene by 5.0% during the 4th quarter. American Century Companies Inc. now owns 4,041 shares of the company’s stock worth $466,000 after purchasing an additional 192 shares during the last quarter. Huntington National Bank raised its position in shares of Centene by 110.7% during the 1st quarter. Huntington National Bank now owns 472 shares of the company’s stock worth $25,000 after purchasing an additional 248 shares during the last quarter. Gateway Investment Advisers LLC raised its position in shares of Centene by 90.6% during the 1st quarter. Gateway Investment Advisers LLC now owns 19,031 shares of the company’s stock worth $1,011,000 after purchasing an additional 9,047 shares during the last quarter. Finally, DNB Asset Management AS raised its position in shares of Centene by 74.4% during the 1st quarter. DNB Asset Management AS now owns 43,732 shares of the company’s stock worth $2,322,000 after purchasing an additional 18,659 shares during the last quarter. 89.86% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Jessica L. Blume acquired 2,850 shares of the stock in a transaction dated Friday, July 26th. The stock was bought at an average cost of $52.99 per share, with a total value of $151,021.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.50% of the stock is owned by insiders.



Several research analysts recently issued reports on CNC shares. Citigroup upgraded Centene from a “neutral” rating to a “buy” rating and set a $69.00 price objective for the company in a research report on Friday, May 10th. Morgan Stanley cut their price objective on Centene from $75.00 to $71.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. SunTrust Banks cut their price objective on Centene to $80.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. Cantor Fitzgerald restated a “buy” rating and set a $83.00 price objective on shares of Centene in a research report on Sunday, April 21st. Finally, Zacks Investment Research downgraded Centene from a “buy” rating to a “hold” rating and set a $59.00 price objective for the company. in a research report on Wednesday, May 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $75.26.

CNC stock traded down $1.42 during midday trading on Wednesday, hitting $48.31. The stock had a trading volume of 73,483 shares, compared to its average volume of 6,366,863. The company has a market cap of $20.57 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 0.78 and a beta of 0.83. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.58. Centene Corp has a 12-month low of $45.44 and a 12-month high of $74.49. The business has a 50-day moving average price of $51.90.

Centene (NYSE:CNC) last released its earnings results on Tuesday, July 23rd. The company reported $1.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.10. The firm had revenue of $18.36 billion during the quarter, compared to analysts’ expectations of $18.02 billion. Centene had a net margin of 1.84% and a return on equity of 15.87%. Centene’s revenue for the quarter was up 29.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.90 EPS. On average, equities research analysts anticipate that Centene Corp will post 4.41 EPS for the current fiscal year.

Centene 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. 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.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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