Sei Investments Co. Has $20.82 Million Position in Centene Corporation (NYSE:CNC)
Sei Investments Co. decreased its position in shares of Centene Corporation (NYSE:CNC) by 1.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 260,602 shares of the company’s stock after selling 4,334 shares during the period. Sei Investments Co.’s holdings in Centene Corporation were worth $20,817,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CAPROCK Group Inc. purchased a new position in Centene Corporation during the second quarter worth $230,000. CIBC Asset Management Inc boosted its position in Centene Corporation by 0.4% in the second quarter. CIBC Asset Management Inc now owns 15,845 shares of the company’s stock worth $1,266,000 after buying an additional 56 shares during the period. Great West Life Assurance Co. Can boosted its position in Centene Corporation by 0.7% in the second quarter. Great West Life Assurance Co. Can now owns 120,847 shares of the company’s stock worth $9,635,000 after buying an additional 882 shares during the period. Eagle Global Advisors LLC purchased a new position in Centene Corporation during the second quarter worth $216,000. Finally, Harbour Capital Advisors LLC boosted its position in Centene Corporation by 7,888.0% in the second quarter. Harbour Capital Advisors LLC now owns 102,885 shares of the company’s stock worth $1,288,000 after buying an additional 101,597 shares during the period. Institutional investors own 93.60% of the company’s stock.
Shares of Centene Corporation (NYSE:CNC) opened at 82.38 on Friday. Centene Corporation has a 12 month low of $50.00 and a 12 month high of $87.94. The stock’s 50 day moving average is $81.53 and its 200 day moving average is $73.62. The stock has a market capitalization of $14.21 billion, a PE ratio of 18.08 and a beta of 0.66.
Centene Corporation (NYSE:CNC) last posted its quarterly earnings results on Tuesday, July 25th. The company reported $1.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.29. The firm had revenue of $11.95 billion for the quarter, compared to the consensus estimate of $11.69 billion. Centene Corporation had a net margin of 1.72% and a return on equity of 14.62%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the firm posted $1.29 earnings per share. Analysts anticipate that Centene Corporation will post $4.92 earnings per share for the current fiscal year.
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A number of research firms recently weighed in on CNC. Zacks Investment Research cut shares of Centene Corporation from a “buy” rating to a “hold” rating in a research note on Friday. BidaskClub cut shares of Centene Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Jefferies Group LLC restated a “buy” rating and set a $98.00 target price on shares of Centene Corporation in a research note on Thursday, July 27th. Piper Jaffray Companies restated a “buy” rating and set a $105.00 target price on shares of Centene Corporation in a research note on Thursday, July 27th. Finally, ValuEngine upgraded shares of Centene Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $86.82.
In other news, EVP Christopher D. Bowers sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $79.43, for a total value of $317,720.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Mark J. Brooks sold 2,161 shares of the firm’s stock in a transaction dated 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. Over the last three months, insiders sold 53,578 shares of company stock worth $4,264,757. 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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