Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in Centene Corporation (NYSE:CNC) by 15.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,066 shares of the company’s stock after selling 21,045 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.07% of Centene Corporation worth $7,973,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Global X Management Co. LLC raised its position in shares of Centene Corporation by 170.5% in the third quarter. Global X Management Co. LLC now owns 1,580 shares of the company’s stock valued at $106,000 after buying an additional 996 shares in the last quarter. BKS Advisors LLC purchased a new position in shares of Centene Corporation during the third quarter valued at about $107,000. Bronfman E.L. Rothschild L.P. raised its position in shares of Centene Corporation by 88.3% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 1,781 shares of the company’s stock valued at $119,000 after buying an additional 835 shares in the last quarter. Rockefeller Financial Services Inc. purchased a new position in shares of Centene Corporation during the third quarter valued at about $120,000. Finally, Parkside Financial Bank & Trust raised its position in shares of Centene Corporation by 7.3% in the third quarter. Parkside Financial Bank & Trust now owns 2,206 shares of the company’s stock valued at $148,000 after buying an additional 151 shares in the last quarter. 93.84% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Centene Corporation (NYSE:CNC)

Centene Corporation (NYSE:CNC) traded up 0.16% during trading on Friday, reaching $62.81. The company had a trading volume of 109,187 shares. Centene Corporation has a 52 week low of $47.36 and a 52 week high of $75.57. The stock has a 50 day moving average price of $58.06 and a 200 day moving average price of $64.24. The firm has a market capitalization of $10.73 billion, a P/E ratio of 23.13 and a beta of 0.74.

Centene Corporation (NYSE:CNC) last posted its earnings results on Tuesday, October 25th. The company reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by $0.04. The company had revenue of $10.85 billion for the quarter, compared to analysts’ expectations of $10.96 million. Centene Corporation had a return on equity of 13.40% and a net margin of 1.17%. The firm’s quarterly revenue was up 86.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 EPS. Analysts predict that Centene Corporation will post $4.34 earnings per share for the current year.

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CNC has been the subject of several research reports. Jefferies Group reissued a “buy” rating and issued a $67.00 target price (down previously from $68.00) on shares of Centene Corporation in a research report on Friday, December 16th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Centene Corporation in a research report on Thursday, September 29th. Evercore ISI initiated coverage on Centene Corporation in a research report on Thursday, September 22nd. They set a “buy” rating and a $79.00 price objective for the company. Barclays PLC reaffirmed a “buy” rating and set a $75.00 price objective on shares of Centene Corporation in a research report on Monday. Finally, Zacks Investment Research raised Centene Corporation from a “sell” rating to a “hold” rating in a research report on Friday, December 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $77.44.

In other news, EVP Jesse N. Hunter sold 5,000 shares of the company’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $65.00, for a total transaction of $325,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Mark J. Brooks sold 1,099 shares of the company’s stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $58.00, for a total value of $63,742.00. The disclosure for this sale can be found here. Company insiders own 4.50% of the company’s stock.

Centene Corporation 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.

5 Day Chart for NYSE:CNC

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