Toronto Dominion Bank Sells 541,113 Shares of Centene Corp (NYSE:CNC)

Toronto Dominion Bank cut its holdings in shares of Centene Corp (NYSE:CNC) by 57.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 407,511 shares of the company’s stock after selling 541,113 shares during the period. Toronto Dominion Bank owned about 0.10% of Centene worth $21,365,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Viking Global Investors LP lifted its stake in shares of Centene by 233.3% in the 2nd quarter. Viking Global Investors LP now owns 13,994,550 shares of the company’s stock valued at $733,874,000 after acquiring an additional 9,795,824 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Centene by 91.2% in the 2nd quarter. Invesco Ltd. now owns 6,368,307 shares of the company’s stock valued at $333,956,000 after acquiring an additional 3,037,351 shares during the last quarter. Third Point LLC bought a new position in shares of Centene in the 2nd quarter valued at $131,100,000. Northern Trust Corp lifted its stake in shares of Centene by 103.3% in the 1st quarter. Northern Trust Corp now owns 4,704,989 shares of the company’s stock valued at $249,834,000 after acquiring an additional 2,390,842 shares during the last quarter. Finally, Maverick Capital Ltd. lifted its stake in shares of Centene by 57.4% in the 2nd quarter. Maverick Capital Ltd. now owns 6,123,308 shares of the company’s stock valued at $321,106,000 after acquiring an additional 2,233,222 shares during the last quarter. Hedge funds and other institutional investors own 97.07% of the company’s stock.

A number of research analysts have recently commented on the company. ValuEngine upgraded Centene from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research cut Centene from a “buy” rating to a “hold” rating and set a $49.00 price target for the company. in a research note on Monday, September 2nd. Morgan Stanley dropped their price target on Centene from $64.00 to $62.00 and set an “overweight” rating for the company in a research note on Thursday, September 26th. Finally, Deutsche Bank assumed coverage on Centene in a research note on Thursday, September 12th. They issued a “buy” rating and a $62.00 price target for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $71.45.

In related news, Director Jessica L. Blume acquired 2,850 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was acquired at an average cost of $52.99 per share, for a total transaction of $151,021.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.50% of the company’s stock.

NYSE CNC traded up $0.18 on Friday, reaching $43.41. The company had a trading volume of 97,881 shares, compared to its average volume of 4,707,489. The firm has a market cap of $17.68 billion, a price-to-earnings ratio of 12.25, a P/E/G ratio of 0.68 and a beta of 0.86. Centene Corp has a fifty-two week low of $41.62 and a fifty-two week high of $74.49. The business has a 50 day moving average of $45.76 and a two-hundred day moving average of $51.66. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.07 and a quick ratio of 1.07.

Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.10. The business had revenue of $18.36 billion during the quarter, compared to the consensus estimate of $18.02 billion. Centene had a return on equity of 15.87% and a net margin of 1.84%. Centene’s quarterly revenue was up 29.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 earnings per share. As a group, research analysts predict that Centene Corp will post 4.42 earnings per share for the current fiscal year.

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. 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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