TD Asset Management Inc grew its stake in Centene Corporation (NYSE:CNC – Free Report) by 46.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 278,238 shares of the company’s stock after purchasing an additional 88,522 shares during the period. TD Asset Management Inc’s holdings in Centene were worth $11,449,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of CNC. Norges Bank purchased a new stake in shares of Centene in the fourth quarter worth approximately $332,044,000. AQR Capital Management LLC raised its holdings in shares of Centene by 76.6% in the third quarter. AQR Capital Management LLC now owns 14,654,834 shares of the company’s stock worth $522,885,000 after buying an additional 6,356,152 shares during the period. Deerfield Management Company L.P. raised its holdings in shares of Centene by 184.0% in the third quarter. Deerfield Management Company L.P. now owns 9,046,000 shares of the company’s stock worth $322,761,000 after buying an additional 5,860,630 shares during the period. 8 Knots Management LLC purchased a new stake in shares of Centene in the third quarter worth approximately $186,662,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Centene by 32.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 8,716,056 shares of the company’s stock worth $310,989,000 after buying an additional 2,111,674 shares during the period. 93.63% of the stock is owned by institutional investors.
Centene Trading Up 4.5%
CNC opened at $65.11 on Tuesday. The stock’s fifty day moving average is $48.84 and its two-hundred day moving average is $43.55. The company has a market capitalization of $32.15 billion, a P/E ratio of -4.96, a PEG ratio of 0.49 and a beta of 1.09. Centene Corporation has a 52 week low of $25.08 and a 52 week high of $65.80. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.76.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald upgraded Centene from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $41.00 to $60.00 in a report on Tuesday, April 28th. Raymond James Financial set a $60.00 price target on Centene in a report on Wednesday, April 29th. Barclays increased their price target on Centene from $63.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Zacks Research upgraded Centene from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Finally, The Goldman Sachs Group restated a “sell” rating and set a $40.00 price objective on shares of Centene in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $60.24.
Get Our Latest Stock Report on Centene
Centene Company Profile
Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.
Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.
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