BB&T Corp Has $16,434,000 Stake in Centene Corp. (CNC)
BB&T Corp decreased its position in Centene Corp. (NYSE:CNC) by 10.3% during the second quarter, Holdings Channel reports. The firm owned 230,279 shares of the company’s stock after selling 26,566 shares during the period. BB&T Corp’s holdings in Centene Corp. were worth $16,434,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in CNC. State Street Corp raised its position in Centene Corp. by 82.3% in the first quarter. State Street Corp now owns 7,158,347 shares of the company’s stock worth $440,733,000 after buying an additional 3,230,862 shares during the period. Geode Capital Management LLC raised its position in Centene Corp. by 85.7% in the first quarter. Geode Capital Management LLC now owns 1,533,857 shares of the company’s stock worth $94,279,000 after buying an additional 708,081 shares during the period. Bridger Management LLC bought a new position in Centene Corp. during the first quarter worth $37,593,000. Samlyn Capital LLC bought a new position in Centene Corp. during the first quarter worth $35,212,000. Finally, 1832 Asset Management L.P. bought a new position in Centene Corp. during the first quarter worth $58,738,000. 92.90% of the stock is currently owned by institutional investors.
Centene Corp. (NYSE:CNC) traded up 1.1453% on Wednesday, hitting $62.1133. The stock had a trading volume of 395,700 shares. The company’s 50 day moving average is $65.57 and its 200 day moving average is $65.78. The firm has a market cap of $10.60 billion, a PE ratio of 23.9727 and a beta of 0.94. Centene Corp. has a 12-month low of $47.36 and a 12-month high of $75.57.
Centene Corp. (NYSE:CNC) last released its quarterly earnings results on Tuesday, July 26th. The company reported $1.29 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $10.90 billion for the quarter, compared to analysts’ expectations of $10.80 billion. During the same quarter in the previous year, the firm posted $0.72 earnings per share. The company’s revenue was up 97.9% compared to the same quarter last year. On average, equities research analysts expect that Centene Corp. will post $4.37 EPS for the current fiscal year.
A number of equities analysts have weighed in on CNC shares. Leerink Swann lowered Centene Corp. from an “outperform” rating to a “market perform” rating and set a $80.00 price objective on the stock. in a research note on Tuesday, September 6th. Morgan Stanley raised Centene Corp. from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $84.00 to $86.00 in a research note on Wednesday, June 29th. Jefferies Group reaffirmed a “buy” rating and issued a $82.00 price target on shares of Centene Corp. in a research note on Sunday. Vetr lowered Centene Corp. from a “strong-buy” rating to a “buy” rating and set a $81.00 price target on the stock. in a research note on Tuesday, July 12th. Finally, FBR & Co reaffirmed a “buy” rating on shares of Centene Corp. in a research note on Thursday, September 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $80.76.
In related news, EVP Kenneth Rone Baldwin sold 6,000 shares of the business’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $66.58, for a total value of $399,480.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Carol Goldman sold 10,000 shares of the business’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $66.36, for a total value of $663,600.00. The disclosure for this sale can be found here. 4.50% of the stock is owned by corporate insiders.
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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