Catalyst Capital Advisors LLC boosted its stake in shares of Centene Corp (NYSE:CNC) by 1.3% during the 4th quarter, Holdings Channel reports. The fund owned 20,000 shares of the company’s stock after purchasing an additional 250 shares during the period. Catalyst Capital Advisors LLC’s holdings in Centene were worth $2,306,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Advisors Asset Management Inc. boosted its stake in shares of Centene by 82.8% during the second quarter. Advisors Asset Management Inc. now owns 29,600 shares of the company’s stock valued at $3,647,000 after purchasing an additional 13,407 shares in the last quarter. Schroder Investment Management Group lifted its stake in shares of Centene by 274.4% in the second quarter. Schroder Investment Management Group now owns 4,365 shares of the company’s stock worth $540,000 after acquiring an additional 3,199 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Centene by 17.3% in the second quarter. Bank of New York Mellon Corp now owns 1,523,248 shares of the company’s stock worth $187,680,000 after acquiring an additional 224,966 shares during the period. FMR LLC lifted its stake in shares of Centene by 33.4% in the second quarter. FMR LLC now owns 797,382 shares of the company’s stock worth $98,246,000 after acquiring an additional 199,682 shares during the period. Finally, Aperio Group LLC lifted its stake in shares of Centene by 2.0% in the third quarter. Aperio Group LLC now owns 113,265 shares of the company’s stock worth $16,399,000 after acquiring an additional 2,263 shares during the period. 45.00% of the stock is currently owned by institutional investors.
A number of research firms recently commented on CNC. ValuEngine lowered Centene from a “hold” rating to a “sell” rating in a research note on Friday, February 8th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $76.00 price objective on shares of Centene in a research note on Thursday, February 7th. Oppenheimer cut their price objective on Centene from $165.00 to $83.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 6th. Zacks Investment Research raised Centene from a “hold” rating to a “buy” rating in a research note on Wednesday, February 6th. Finally, Stephens began coverage on Centene in a research note on Monday, January 14th. They issued an “overweight” rating and a $73.50 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have assigned a buy rating to the stock. Centene presently has a consensus rating of “Buy” and a consensus price target of $77.65.
In other Centene news, EVP Christopher D. Bowers sold 9,200 shares of Centene stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $65.01, for a total value of $598,092.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark J. Brooks sold 2,540 shares of Centene stock in a transaction that occurred on Tuesday, December 18th. The stock was sold at an average price of $121.26, for a total value of $308,000.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,740 shares of company stock valued at $1,406,092. 3.00% of the stock is currently owned by corporate insiders.
Shares of CNC stock opened at $65.28 on Thursday. The company has a market capitalization of $26.45 billion, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 1.14 and a beta of 1.32. The company has a quick ratio of 1.03, a current ratio of 1.00 and a debt-to-equity ratio of 0.60. Centene Corp has a fifty-two week low of $49.26 and a fifty-two week high of $74.49.
Centene (NYSE:CNC) last issued its earnings results on Tuesday, February 5th. The company reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.05. The business had revenue of $16.56 billion during the quarter, compared to the consensus estimate of $16.38 billion. Centene had a return on equity of 14.10% and a net margin of 1.50%. The firm’s revenue for the quarter was up 29.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 earnings per share. On average, research analysts anticipate that Centene Corp will post 4.23 earnings per share for the current year.
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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.
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