Centene Corp (CNC) Position Raised by Piedmont Investment Advisors Inc.

Piedmont Investment Advisors Inc. boosted its holdings in shares of Centene Corp (NYSE:CNC) by 105.1% in the first quarter, HoldingsChannel reports. The firm owned 32,865 shares of the company’s stock after acquiring an additional 16,843 shares during the period. Piedmont Investment Advisors Inc.’s holdings in Centene were worth $1,745,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio raised its stake in shares of Centene by 5.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 85,746 shares of the company’s stock valued at $9,887,000 after purchasing an additional 4,781 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Centene in the 4th quarter valued at about $468,000. Deltec Asset Management LLC acquired a new stake in shares of Centene in the 1st quarter valued at about $12,458,000. Osborne Partners Capital Management LLC raised its stake in shares of Centene by 95.8% in the 1st quarter. Osborne Partners Capital Management LLC now owns 194,180 shares of the company’s stock valued at $10,311,000 after purchasing an additional 95,025 shares during the period. Finally, CI Investments Inc. raised its stake in shares of Centene by 35.6% in the 4th quarter. CI Investments Inc. now owns 261,900 shares of the company’s stock valued at $30,197,000 after purchasing an additional 68,800 shares during the period. 64.80% of the stock is owned by hedge funds and other institutional investors.

Centene stock opened at $56.87 on Friday. Centene Corp has a 52 week low of $45.44 and a 52 week high of $74.49. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market cap of $23.50 billion, a P/E ratio of 16.06, a price-to-earnings-growth ratio of 0.97 and a beta of 1.21.

Centene (NYSE:CNC) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.07. Centene had a return on equity of 14.60% and a net margin of 1.66%. The business had revenue of $18.44 billion during the quarter, compared to analysts’ expectations of $17.44 billion. During the same quarter last year, the company posted $2.17 earnings per share. Centene’s quarterly revenue was up 39.8% on a year-over-year basis. As a group, sell-side analysts predict that Centene Corp will post 4.38 EPS for the current year.

A number of analysts recently issued reports on CNC shares. Zacks Investment Research raised Centene from a “hold” rating to a “buy” rating in a research report on Wednesday, February 6th. Oppenheimer lowered their target price on Centene from $165.00 to $83.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 6th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $76.00 target price on shares of Centene in a research report on Thursday, February 7th. ValuEngine downgraded Centene from a “hold” rating to a “sell” rating in a research report on Friday, February 8th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $83.00 target price on shares of Centene in a research report on Wednesday, February 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $75.80.

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Centene Profile

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. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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