Homrich & Berg raised its position in shares of Centene Corp (NYSE:CNC) by 8.8% in the second quarter, HoldingsChannel.com reports. The firm owned 37,037 shares of the company’s stock after acquiring an additional 3,000 shares during the period. Centene makes up 0.3% of Homrich & Berg’s investment portfolio, making the stock its 24th largest position. Homrich & Berg’s holdings in Centene were worth $4,563,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of CNC. LS Investment Advisors LLC lifted its stake in shares of Centene by 5.0% in the 2nd quarter. LS Investment Advisors LLC now owns 8,819 shares of the company’s stock worth $1,087,000 after acquiring an additional 416 shares during the period. Green Square Capital LLC lifted its stake in Centene by 9.2% during the first quarter. Green Square Capital LLC now owns 6,140 shares of the company’s stock valued at $656,000 after purchasing an additional 516 shares during the last quarter. American Century Companies Inc. lifted its stake in Centene by 16.8% during the second quarter. American Century Companies Inc. now owns 3,819 shares of the company’s stock valued at $471,000 after purchasing an additional 550 shares during the last quarter. Howard Capital Management Inc. lifted its stake in Centene by 26.7% during the first quarter. Howard Capital Management Inc. now owns 2,716 shares of the company’s stock valued at $276,000 after purchasing an additional 572 shares during the last quarter. Finally, IFP Advisors Inc lifted its stake in Centene by 24.0% during the first quarter. IFP Advisors Inc now owns 2,967 shares of the company’s stock valued at $317,000 after purchasing an additional 574 shares during the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.
CNC stock opened at $143.08 on Tuesday. Centene Corp has a 52-week low of $83.43 and a 52-week high of $145.38. The company has a current ratio of 1.25, a quick ratio of 1.26 and a debt-to-equity ratio of 0.59. The company has a market cap of $29.50 billion, a PE ratio of 28.45, a PEG ratio of 1.38 and a beta of 0.79.
Centene (NYSE:CNC) last released its quarterly earnings data on Tuesday, July 24th. The company reported $1.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $0.03. The firm had revenue of $14.18 billion for the quarter, compared to analyst estimates of $13.82 billion. Centene had a net margin of 2.06% and a return on equity of 14.57%. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.59 EPS. equities research analysts anticipate that Centene Corp will post 7.08 EPS for the current fiscal year.
Several analysts recently commented on the stock. Barclays assumed coverage on shares of Centene in a research note on Monday, July 23rd. They set an “overweight” rating and a $158.00 target price for the company. Credit Suisse Group increased their target price on shares of Centene from $112.00 to $125.00 and gave the company a “neutral” rating in a research note on Monday, June 18th. MED reissued an “outperform” rating and set a $146.00 target price (up from $138.00) on shares of Centene in a research note on Wednesday, July 25th. Citigroup reissued a “neutral” rating and set a $147.00 target price on shares of Centene in a research note on Wednesday, July 18th. Finally, Morgan Stanley increased their target price on shares of Centene from $136.00 to $138.00 and gave the company an “overweight” rating in a research note on Wednesday, July 25th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $139.18.
In other news, EVP Brandy Burkhalter sold 3,000 shares of the stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $131.90, for a total transaction of $395,700.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert K. Ditmore sold 8,750 shares of the stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $131.44, for a total transaction of $1,150,100.00. Following the transaction, the director now owns 472,241 shares in the company, valued at approximately $62,071,357.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,750 shares of company stock worth $1,785,800. Company insiders own 3.00% of the company’s stock.
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.
Further Reading: Technical Analysis
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