Centene Co. (NYSE:CNC) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Centene Co. (NYSE:CNC) by 1.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,733 shares of the company’s stock after buying an additional 583 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Centene were worth $3,616,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CNC. Harris Associates L P acquired a new position in shares of Centene in the 3rd quarter valued at $274,274,000. Invesco Ltd. increased its stake in Centene by 8.7% in the third quarter. Invesco Ltd. now owns 8,788,485 shares of the company’s stock valued at $605,351,000 after purchasing an additional 704,684 shares during the period. Deerfield Management Company L.P. Series C raised its holdings in shares of Centene by 47.5% in the third quarter. Deerfield Management Company L.P. Series C now owns 1,990,000 shares of the company’s stock valued at $137,071,000 after buying an additional 641,000 shares during the last quarter. Scout Investments Inc. purchased a new position in shares of Centene during the third quarter worth about $39,137,000. Finally, California Public Employees Retirement System raised its stake in Centene by 46.5% during the 3rd quarter. California Public Employees Retirement System now owns 1,512,742 shares of the company’s stock valued at $104,198,000 after acquiring an additional 479,925 shares during the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Up 0.6 %

CNC opened at $75.59 on Tuesday. Centene Co. has a one year low of $60.83 and a one year high of $81.42. The company has a market cap of $40.43 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 0.93 and a beta of 0.38. The business’s fifty day moving average is $76.51 and its two-hundred day moving average is $74.70. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.11 and a current ratio of 1.11.

Centene (NYSE:CNC) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The firm had revenue of $39.46 billion for the quarter, compared to analysts’ expectations of $36.16 billion. Centene had a net margin of 1.75% and a return on equity of 14.26%. The firm’s revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.86 EPS. Analysts anticipate that Centene Co. will post 6.75 EPS for the current fiscal year.

Insider Transactions at Centene

In related news, Director Lori Jean Robinson sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $77.41, for a total value of $774,100.00. Following the sale, the director now owns 11,455 shares of the company’s stock, valued at approximately $886,731.55. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Lori Jean Robinson sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $77.41, for a total value of $774,100.00. Following the completion of the transaction, the director now owns 11,455 shares of the company’s stock, valued at approximately $886,731.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Kenneth J. Fasola sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $75.07, for a total transaction of $900,840.00. Following the sale, the president now directly owns 235,365 shares in the company, valued at $17,668,850.55. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

CNC has been the subject of several recent research reports. Stephens reaffirmed an “equal weight” rating and set a $85.00 price target (down from $92.00) on shares of Centene in a report on Thursday, March 21st. StockNews.com cut shares of Centene from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 28th. Wells Fargo & Company boosted their price target on shares of Centene from $89.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Barclays began coverage on shares of Centene in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $101.00 price objective for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 target price on shares of Centene in a research report on Thursday, April 4th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.38.

Centene Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children's health insurance program, foster care, medicare-medicaid plans, long-term services and support.