Fulcrum Asset Management LLP lifted its position in shares of Centene Corporation (NYSE:CNC – Free Report) by 1,263.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,019 shares of the company’s stock after acquiring an additional 29,670 shares during the period. Fulcrum Asset Management LLP’s holdings in Centene were worth $1,992,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Centene in the second quarter worth $2,660,422,000. Wellington Management Group LLP raised its holdings in shares of Centene by 423.0% during the second quarter. Wellington Management Group LLP now owns 13,301,215 shares of the company’s stock worth $853,805,000 after purchasing an additional 10,757,914 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Centene by 12.4% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,517,580 shares of the company’s stock worth $354,173,000 after purchasing an additional 608,249 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Centene by 21.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,518,785 shares of the company’s stock worth $302,818,000 after buying an additional 802,756 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in shares of Centene in the 2nd quarter valued at about $285,713,000. 93.63% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other Centene news, General Counsel Christopher Koster sold 56,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $66.90, for a total value of $3,779,850.00. Following the sale, the general counsel owned 248,854 shares in the company, valued at approximately $16,648,332.60. This trade represents a 18.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.37% of the company’s stock.
Analysts Set New Price Targets
CNC has been the subject of a number of recent research reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $69.00 price objective on shares of Centene in a research report on Thursday, October 29th. JPMorgan Chase & Co. raised their target price on shares of Centene from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, October 29th. Bank of America restated a “buy” rating and issued a $82.00 target price (up from $80.00) on shares of Centene in a research note on Wednesday, October 28th. Wall Street Zen lowered Centene from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 31st. Finally, Zacks Research cut Centene from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Nine analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $73.80.
Check Out Our Latest Research Report on CNC
Centene Stock Performance
Shares of CNC opened at $70.17 on Wednesday. Centene Corporation has a 1 year low of $31.63 and a 1 year high of $78.08. The company has a market cap of $34.74 billion, a price-to-earnings ratio of 13.01, a price-to-earnings-growth ratio of 0.40 and a beta of 1.07. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a fifty day moving average of $66.83 and a 200-day moving average of $56.12.
Centene (NYSE:CNC – Get Free Report) last released its quarterly earnings data on Tuesday, October 27th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.48. The business had revenue of $50.65 billion for the quarter, compared to analysts’ expectations of $47.12 billion. Centene had a net margin of 0.72% and a return on equity of 12.15%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.50 EPS. As a group, equities analysts anticipate that Centene Corporation will post 5.27 earnings per share for the current year.
Centene Company Profile
Centene Corporation is a U.S. health care company that provides managed care and related services, primarily for people enrolled in government-sponsored health programs. Its offerings include Medicaid and Medicare plans, as well as health insurance sold through the Affordable Care Act marketplace. Centene serves members through health plans and a network of health care providers. Its businesses include Ambetter, which offers marketplace health plans, and Wellcare, which provides Medicare-related coverage.
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