Teacher Retirement System of Texas Buys 44,536 Shares of Centene Corporation $CNC

Teacher Retirement System of Texas increased its stake in shares of Centene Corporation (NYSE:CNC) by 7.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 618,167 shares of the company’s stock after acquiring an additional 44,536 shares during the period. Teacher Retirement System of Texas’ holdings in Centene were worth $33,554,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Quadcap Wealth Management LLC raised its holdings in Centene by 3.2% during the first quarter. Quadcap Wealth Management LLC now owns 5,617 shares of the company’s stock worth $341,000 after acquiring an additional 172 shares in the last quarter. Poinciana Advisors Group LLC raised its holdings in Centene by 2.8% during the first quarter. Poinciana Advisors Group LLC now owns 7,221 shares of the company’s stock worth $438,000 after acquiring an additional 195 shares in the last quarter. Carnegie Investment Counsel raised its holdings in Centene by 6.0% during the first quarter. Carnegie Investment Counsel now owns 3,811 shares of the company’s stock worth $234,000 after acquiring an additional 215 shares in the last quarter. Allworth Financial LP raised its holdings in Centene by 6.1% during the first quarter. Allworth Financial LP now owns 4,387 shares of the company’s stock worth $270,000 after acquiring an additional 254 shares in the last quarter. Finally, Amalgamated Bank raised its holdings in Centene by 0.3% during the first quarter. Amalgamated Bank now owns 97,346 shares of the company’s stock worth $5,910,000 after acquiring an additional 265 shares in the last quarter. Institutional investors own 93.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CNC shares. Robert W. Baird dropped their price objective on Centene from $68.00 to $28.00 and set a “neutral” rating on the stock in a research note on Friday, July 25th. Wall Street Zen lowered Centene from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. Barclays upped their price objective on Centene from $33.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, September 12th. Mizuho upped their price objective on Centene from $28.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Finally, Wells Fargo & Company set a $41.00 price objective on Centene and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Three investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Centene currently has an average rating of “Hold” and an average target price of $39.50.

Insider Buying and Selling at Centene

In related news, CEO Sarah London purchased 19,230 shares of Centene stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average price of $25.50 per share, with a total value of $490,365.00. Following the completion of the transaction, the chief executive officer directly owned 845,275 shares of the company’s stock, valued at $21,554,512.50. This represents a 2.33% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.36% of the company’s stock.

Centene Price Performance

Shares of NYSE CNC opened at $33.06 on Tuesday. The firm has a market cap of $16.24 billion, a P/E ratio of 8.18, a price-to-earnings-growth ratio of 1.34 and a beta of 0.48. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64. Centene Corporation has a 1-year low of $25.08 and a 1-year high of $66.81. The business’s 50 day moving average is $33.09 and its 200-day moving average is $42.35.

Centene (NYSE:CNC) last announced its earnings results on Friday, July 25th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.39). The firm had revenue of $48.74 billion for the quarter, compared to the consensus estimate of $44.71 billion. Centene had a return on equity of 9.57% and a net margin of 1.15%.Centene’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter last year, the business posted $2.42 EPS. Equities research analysts predict that Centene Corporation will post 6.86 earnings per share for the current year.

Centene Company Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children’s health insurance program, foster care, medicare-medicaid plans, long-term services and support.