Eagle Asset Management Inc. Has $48.27 Million Stake in Centene Corp (NYSE:CNC)

Eagle Asset Management Inc. boosted its stake in Centene Corp (NYSE:CNC) by 0.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,115,926 shares of the company’s stock after buying an additional 864 shares during the period. Eagle Asset Management Inc.’s holdings in Centene were worth $48,274,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Securian Asset Management Inc raised its position in shares of Centene by 0.5% during the second quarter. Securian Asset Management Inc now owns 42,497 shares of the company’s stock worth $2,229,000 after acquiring an additional 205 shares during the last quarter. Public Employees Retirement Association of Colorado raised its position in shares of Centene by 0.3% during the second quarter. Public Employees Retirement Association of Colorado now owns 70,507 shares of the company’s stock worth $3,697,000 after acquiring an additional 217 shares during the last quarter. Stephens Inc. AR raised its position in shares of Centene by 2.2% during the third quarter. Stephens Inc. AR now owns 10,709 shares of the company’s stock worth $463,000 after acquiring an additional 227 shares during the last quarter. Smith Moore & CO. raised its position in shares of Centene by 2.2% during the second quarter. Smith Moore & CO. now owns 10,692 shares of the company’s stock worth $561,000 after acquiring an additional 233 shares during the last quarter. Finally, Advisor Partners LLC raised its position in shares of Centene by 1.8% during the second quarter. Advisor Partners LLC now owns 13,278 shares of the company’s stock worth $696,000 after acquiring an additional 239 shares during the last quarter. 96.72% of the stock is currently owned by institutional investors and hedge funds.

In other Centene news, Director Robert K. Ditmore sold 49,019 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $50.01, for a total value of $2,451,440.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.50% of the stock is owned by corporate insiders.

A number of research firms recently commented on CNC. Credit Suisse Group dropped their price objective on Centene from $63.00 to $57.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Zacks Investment Research downgraded Centene from a “hold” rating to a “sell” rating and set a $50.00 price objective for the company. in a report on Friday, October 18th. Morgan Stanley dropped their price objective on Centene from $64.00 to $62.00 and set an “overweight” rating for the company in a report on Thursday, September 26th. Deutsche Bank dropped their price objective on Centene from $62.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, ValuEngine upgraded Centene from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. Centene has a consensus rating of “Buy” and an average price target of $70.05.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

Shares of Centene stock opened at $55.06 on Friday. Centene Corp has a 1 year low of $41.62 and a 1 year high of $74.49. The business has a 50-day moving average of $46.87 and a two-hundred day moving average of $50.44. The company has a market capitalization of $21.45 billion, a P/E ratio of 15.55, a price-to-earnings-growth ratio of 0.83 and a beta of 0.87. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01.

Centene (NYSE:CNC) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.01. Centene had a return on equity of 15.54% and a net margin of 1.87%. The company had revenue of $18.98 billion during the quarter, compared to the consensus estimate of $18.39 billion. During the same period in the prior year, the company earned $1.79 earnings per share. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. On average, equities analysts anticipate that Centene Corp will post 4.42 EPS for the current fiscal year.

Centene Company 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.

Further Reading: What is the formula for the cash asset ratio?

Want to see what other hedge funds are holding CNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Centene Corp (NYSE:CNC).

Institutional Ownership by Quarter for Centene (NYSE:CNC)

Leave a Reply

Your email address will not be published. Required fields are marked *

*