Connable Office Inc. Maintains Stake in Centene Corporation (NYSE:CNC)
Connable Office Inc. maintained its position in shares of Centene Corporation (NYSE:CNC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,254 shares of the company’s stock at the end of the second quarter. Connable Office Inc.’s holdings in Centene Corporation were worth $420,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Centene Corporation by 3,408.1% in the first quarter. BlackRock Inc. now owns 15,510,470 shares of the company’s stock worth $1,105,275,000 after buying an additional 15,068,340 shares during the period. OppenheimerFunds Inc. boosted its position in shares of Centene Corporation by 271.2% in the first quarter. OppenheimerFunds Inc. now owns 1,799,160 shares of the company’s stock worth $128,208,000 after buying an additional 1,314,514 shares during the period. Pioneer Investment Management Inc. boosted its position in shares of Centene Corporation by 1,534.7% in the first quarter. Pioneer Investment Management Inc. now owns 1,369,670 shares of the company’s stock worth $97,603,000 after buying an additional 1,285,885 shares during the period. AQR Capital Management LLC boosted its position in shares of Centene Corporation by 108.0% in the first quarter. AQR Capital Management LLC now owns 2,088,867 shares of the company’s stock worth $148,853,000 after buying an additional 1,084,628 shares during the period. Finally, Wellington Management Group LLP bought a new position in shares of Centene Corporation during the first quarter worth approximately $55,478,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.
Shares of Centene Corporation (NYSE CNC) opened at 81.41 on Friday. Centene Corporation has a 12-month low of $50.00 and a 12-month high of $87.94. The company has a market capitalization of $14.04 billion, a P/E ratio of 17.86 and a beta of 0.66. The firm has a 50-day moving average price of $82.26 and a 200 day moving average price of $74.36.
Centene Corporation (NYSE:CNC) last released its quarterly earnings data on Tuesday, July 25th. The company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.30 by $0.29. The company had revenue of $11.95 billion for the quarter, compared to the consensus estimate of $11.69 billion. Centene Corporation had a return on equity of 14.62% and a net margin of 1.72%. Centene Corporation’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the business posted $1.29 EPS. On average, equities research analysts predict that Centene Corporation will post $4.92 earnings per share for the current year.
A number of equities analysts have commented on CNC shares. Zacks Investment Research cut Centene Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th. Morgan Stanley started coverage on Centene Corporation in a research note on Tuesday, June 6th. They issued an “overweight” rating and a $86.00 price target on the stock. Evercore ISI lifted their price target on Centene Corporation from $80.00 to $83.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $81.00 price target (up from $78.00) on shares of Centene Corporation in a research note on Monday, June 19th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $79.00 price objective on shares of Centene Corporation in a research report on Wednesday, April 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Centene Corporation has an average rating of “Buy” and a consensus price target of $86.82.
In other Centene Corporation news, Director Robert K. Ditmore sold 3,900 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $75.43, for a total transaction of $294,177.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Mark J. Brooks sold 2,161 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $75.43, for a total value of $163,004.23. The disclosure for this sale can be found here. Insiders have sold a total of 53,578 shares of company stock worth $4,264,757 in the last ninety days. Insiders own 3.00% of the company’s stock.
Centene Corporation Company Profile
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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