Chevy Chase Trust Holdings Inc. raised its position in shares of Centene Corporation (NYSE:CNC) by 0.4% during the second quarter, Holdings Channel reports. The institutional investor owned 148,883 shares of the company’s stock after buying an additional 587 shares during the period. Chevy Chase Trust Holdings Inc.’s holdings in Centene Corporation were worth $11,892,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Bronfman E.L. Rothschild L.P. boosted its position in shares of Centene Corporation by 5.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,662 shares of the company’s stock worth $118,000 after buying an additional 93 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Centene Corporation by 5.6% in the first quarter. Quadrant Capital Group LLC now owns 2,263 shares of the company’s stock worth $155,000 after buying an additional 120 shares in the last quarter. Creative Planning boosted its position in shares of Centene Corporation by 5.4% in the first quarter. Creative Planning now owns 2,476 shares of the company’s stock worth $176,000 after buying an additional 127 shares in the last quarter. Howard Hughes Medical Institute boosted its position in shares of Centene Corporation by 96.7% in the first quarter. Howard Hughes Medical Institute now owns 2,685 shares of the company’s stock worth $191,000 after buying an additional 1,320 shares in the last quarter. Finally, Reliance Trust Co. of Delaware acquired a new position in shares of Centene Corporation during the first quarter worth about $201,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Shares of Centene Corporation (NYSE CNC) opened at 83.69 on Tuesday. The company has a market cap of $14.42 billion, a price-to-earnings ratio of 20.60 and a beta of 0.67. Centene Corporation has a 12 month low of $50.00 and a 12 month high of $85.79. The firm has a 50-day moving average of $77.26 and a 200 day moving average of $69.76.

Centene Corporation (NYSE:CNC) last issued its quarterly earnings data on Tuesday, April 25th. The company reported $1.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.06. Centene Corporation had a net margin of 1.57% and a return on equity of 14.19%. The firm had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $11.44 billion. During the same quarter in the prior year, the business earned $0.74 EPS. The business’s quarterly revenue was up 68.6% on a year-over-year basis. On average, analysts expect that Centene Corporation will post $4.80 earnings per share for the current year.

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A number of research analysts have recently issued reports on the stock. Morgan Stanley assumed coverage on shares of Centene Corporation in a report on Tuesday, June 6th. They set an “overweight” rating and a $86.00 price objective for the company. J P Morgan Chase & Co cut shares of Centene Corporation from an “overweight” rating to a “neutral” rating and set a $75.00 price objective for the company. in a report on Monday, May 22nd. Stifel Nicolaus lifted their price objective on shares of Centene Corporation from $80.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, April 26th. Jefferies Group LLC reiterated a “buy” rating and set a $85.00 price objective (up from $83.00) on shares of Centene Corporation in a report on Saturday, April 29th. Finally, Citigroup Inc. cut shares of Centene Corporation from a “buy” rating to a “neutral” rating and set a $73.00 price objective for the company. in a report on Thursday, March 23rd. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $81.74.

In other news, Chairman Michael F. Neidorff sold 35,000 shares of the stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $80.26, for a total value of $2,809,100.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Mark J. Brooks sold 2,161 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $75.43, for a total transaction of $163,004.23. The disclosure for this sale can be found here. Insiders sold a total of 57,728 shares of company stock worth $4,506,020 in the last quarter. Company insiders own 3.00% of the company’s stock.

About Centene Corporation

Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.

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

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