Dai Ichi Life Insurance Company Ltd grew its holdings in shares of Centene Corp (NYSE:CNC) by 708.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 22,535 shares of the company’s stock after acquiring an additional 19,746 shares during the quarter. Dai Ichi Life Insurance Company Ltd’s holdings in Centene were worth $2,777,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of CNC. Global X Management Co. LLC increased its stake in shares of Centene by 14.5% during the first quarter. Global X Management Co. LLC now owns 8,889 shares of the company’s stock valued at $950,000 after buying an additional 1,128 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Centene by 12.1% during the first quarter. Daiwa Securities Group Inc. now owns 5,947 shares of the company’s stock valued at $636,000 after buying an additional 640 shares during the period. Commerzbank Aktiengesellschaft FI increased its stake in shares of Centene by 199.7% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 12,379 shares of the company’s stock valued at $1,323,000 after buying an additional 8,248 shares during the period. Alps Advisors Inc. increased its stake in shares of Centene by 48.4% during the first quarter. Alps Advisors Inc. now owns 5,286 shares of the company’s stock valued at $565,000 after buying an additional 1,725 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of Centene by 66.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 64,675 shares of the company’s stock valued at $6,635,000 after buying an additional 25,737 shares during the period. 90.07% of the stock is currently owned by hedge funds and other institutional investors.
NYSE CNC opened at $145.23 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.26 and a current ratio of 1.25. Centene Corp has a twelve month low of $83.56 and a twelve month high of $147.93. The company has a market cap of $30.07 billion, a P/E ratio of 23.29, a PEG ratio of 1.41 and a beta of 0.85.
Centene (NYSE:CNC) last released its quarterly earnings results 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. Centene had a return on equity of 14.57% and a net margin of 2.06%. The company had revenue of $14.18 billion for the quarter, compared to analyst estimates of $13.82 billion. During the same period in the previous year, the company posted $1.59 earnings per share. The firm’s revenue was up 18.6% on a year-over-year basis. research analysts predict that Centene Corp will post 7.08 EPS for the current fiscal year.
In other Centene news, EVP Keith H. Williamson sold 2,000 shares of the business’s stock in a transaction on Monday, June 11th. The stock was sold at an average price of $120.00, for a total value of $240,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert K. Ditmore sold 8,750 shares of the business’s stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $131.44, for a total value of $1,150,100.00. Following the completion of the sale, the director now directly owns 472,241 shares in the company, valued at $62,071,357.04. The disclosure for this sale can be found here. Insiders sold 13,750 shares of company stock worth $1,785,800 over the last three months. Corporate insiders own 3.00% of the company’s stock.
Several equities analysts have recently issued reports on CNC shares. Oppenheimer boosted their target price on Centene from $130.00 to $138.00 in a research note on Monday, June 18th. Piper Jaffray Companies restated a “buy” rating and set a $152.00 price target on shares of Centene in a research report on Wednesday, July 25th. Bank of America lifted their price target on Centene from $145.00 to $158.00 and gave the company a “buy” rating in a research report on Tuesday, July 24th. Zacks Investment Research upgraded Centene from a “hold” rating to a “buy” rating and set a $152.00 price target on the stock in a research report on Wednesday, August 8th. Finally, Leerink Swann lifted their price target on Centene from $120.00 to $130.00 and gave the company a “market perform” rating in a research report on Monday, June 18th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $142.41.
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.
See Also: Penny Stocks, What You Need To Know
Want to see what other hedge funds are holding CNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Centene Corp (NYSE:CNC).
Receive News & Ratings for Centene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Centene and related companies with MarketBeat.com's FREE daily email newsletter.