HighPoint Advisor Group LLC increased its holdings in Centene Corporation (NYSE:CNC) by 11.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,228 shares of the company’s stock after acquiring an additional 1,180 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Centene Corporation were worth $1,076,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership purchased a new stake in Centene Corporation in the second quarter worth $455,000. Handelsbanken Fonder AB lifted its position in Centene Corporation by 29.0% during the third quarter. Handelsbanken Fonder AB now owns 178,000 shares of the company’s stock valued at $17,225,000 after buying an additional 40,000 shares during the period. Artemis Investment Management LLP purchased a new position in Centene Corporation during the second quarter valued at $15,326,000. Schwab Charles Investment Management Inc. lifted its position in Centene Corporation by 28.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 788,573 shares of the company’s stock valued at $62,992,000 after buying an additional 176,403 shares during the period. Finally, AJO LP purchased a new position in Centene Corporation during the second quarter valued at $100,314,000. 93.43% of the stock is owned by institutional investors.
Centene Corporation (NYSE CNC) traded down $1.20 during midday trading on Tuesday, reaching $93.16. The company had a trading volume of 388,517 shares, compared to its average volume of 1,709,465. Centene Corporation has a 52 week low of $51.21 and a 52 week high of $98.71. The company has a market cap of $16,166.03, a P/E ratio of 17.84, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.99 and a quick ratio of 0.99.
Centene Corporation (NYSE:CNC) last released its quarterly earnings data on Tuesday, October 24th. The company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.24 by $0.11. Centene Corporation had a return on equity of 14.79% and a net margin of 1.81%. The company had revenue of $11.90 billion during the quarter, compared to the consensus estimate of $11.75 billion. During the same period last year, the company earned $1.12 EPS. Centene Corporation’s revenue for the quarter was up 9.7% on a year-over-year basis. equities research analysts anticipate that Centene Corporation will post 4.98 EPS for the current year.
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Several equities analysts have commented on CNC shares. Cowen and Company reissued a “buy” rating and set a $115.00 price objective on shares of Centene Corporation in a research report on Tuesday, October 24th. Oppenheimer Holdings, Inc. raised their price objective on Centene Corporation from $105.00 to $111.00 and gave the company an “outperform” rating in a research report on Wednesday, October 25th. Jefferies Group LLC raised their price objective on Centene Corporation from $98.00 to $112.00 and gave the company a “buy” rating in a research report on Friday, October 13th. Zacks Investment Research raised Centene Corporation from a “hold” rating to a “buy” rating and set a $107.00 price objective for the company in a research report on Friday, September 15th. Finally, Deutsche Bank AG reissued a “buy” rating and set a $111.00 price objective (up previously from $95.00) on shares of Centene Corporation in a research report on Thursday, September 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have assigned a buy rating to the stock. Centene Corporation presently has a consensus rating of “Buy” and an average target price of $97.53.
In related news, Director Robert K. Ditmore sold 4,167 shares of Centene Corporation stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $90.42, for a total value of $376,780.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.00% of the stock is currently owned by company insiders.
Centene Corporation Profile
Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.
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