Dimensional Fund Advisors LP Sells 592,605 Shares of Centene Corp. (CNC)
Dimensional Fund Advisors LP lowered its position in Centene Corp. (NYSE:CNC) by 30.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,380,914 shares of the company’s stock after selling 592,605 shares during the period. Dimensional Fund Advisors LP owned 0.81% of Centene Corp. worth $98,553,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of CNC. ING Groep NV bought a new position in shares of Centene Corp. during the first quarter worth about $5,982,000. Handelsbanken Fonder AB boosted its position in shares of Centene Corp. by 22.9% in the second quarter. Handelsbanken Fonder AB now owns 376,000 shares of the company’s stock worth $26,835,000 after buying an additional 70,000 shares during the period. Samlyn Capital LLC bought a new position in shares of Centene Corp. during the first quarter worth about $35,212,000. Legal & General Group Plc boosted its position in shares of Centene Corp. by 49.1% in the first quarter. Legal & General Group Plc now owns 685,197 shares of the company’s stock worth $42,193,000 after buying an additional 225,733 shares during the period. Finally, Royal Bank of Canada boosted its position in shares of Centene Corp. by 81.7% in the first quarter. Royal Bank of Canada now owns 716,807 shares of the company’s stock worth $44,134,000 after buying an additional 322,222 shares during the period. Hedge funds and other institutional investors own 92.91% of the company’s stock.
Shares of Centene Corp. (NYSE:CNC) traded up 1.17% on Wednesday, hitting $67.67. The stock had a trading volume of 448,772 shares. Centene Corp. has a 52 week low of $47.36 and a 52 week high of $75.57. The company has a 50-day moving average of $68.67 and a 200 day moving average of $65.19. The company has a market capitalization of $11.55 billion, a price-to-earnings ratio of 26.12 and a beta of 1.00.
Centene Corp. (NYSE:CNC) last announced its earnings results on Tuesday, July 26th. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.09 by $0.20. Centene Corp. had a return on equity of 14.27% and a net margin of 1.19%. The company had revenue of $10.90 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same quarter in the prior year, the company earned $0.72 EPS. The firm’s revenue for the quarter was up 97.9% compared to the same quarter last year. On average, equities research analysts predict that Centene Corp. will post $4.37 EPS for the current year.
CNC has been the topic of a number of recent analyst reports. Stifel Nicolaus upgraded Centene Corp. from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Thursday, May 26th. They noted that the move was a valuation call. Credit Suisse Group AG restated a “buy” rating and set a $78.00 target price on shares of Centene Corp. in a report on Tuesday, September 13th. FBR & Co restated a “buy” rating on shares of Centene Corp. in a report on Thursday, September 1st. Wedbush restated an “outperform” rating and set a $85.00 target price on shares of Centene Corp. in a report on Wednesday, September 7th. Finally, Zacks Investment Research lowered Centene Corp. from a “buy” rating to a “hold” rating in a research report on Monday, August 1st. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $81.00.
In related news, Director Richard A. Gephardt sold 15,910 shares of the company’s stock in a transaction that occurred on Wednesday, June 29th. The stock was sold at an average price of $68.89, for a total transaction of $1,096,039.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Keith H. Williamson sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, June 24th. The stock was sold at an average price of $70.00, for a total value of $280,000.00. The disclosure for this sale can be found here. Corporate insiders own 4.50% of the company’s stock.
Centene Corp. Company Profile
Centene Corporation is a diversified healthcare company that provides programs and services to government sponsored healthcare programs. The Company also provides education and outreach programs to inform and assist members in accessing appropriate healthcare services. The Company operates through two segments.
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