New Mexico Educational Retirement Board cut its position in shares of Centene Corporation (NYSE:CNC) by 8.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,000 shares of the company’s stock after selling 1,400 shares during the period. New Mexico Educational Retirement Board’s holdings in Centene Corporation were worth $1,271,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CNC. Vanguard Group Inc. increased its position in shares of Centene Corporation by 3.8% in the first quarter. Vanguard Group Inc. now owns 15,952,026 shares of the company’s stock worth $1,136,742,000 after buying an additional 590,551 shares in the last quarter. BlackRock Inc. increased 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 in the last quarter. State Street Corp increased its position in shares of Centene Corporation by 2.4% in the first quarter. State Street Corp now owns 7,119,308 shares of the company’s stock worth $507,340,000 after buying an additional 169,286 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Centene Corporation by 11.6% in the first quarter. Wells Fargo & Company MN now owns 3,730,530 shares of the company’s stock worth $265,837,000 after buying an additional 386,874 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its position in shares of Centene Corporation by 33.6% in the first quarter. TIAA CREF Investment Management LLC now owns 2,132,087 shares of the company’s stock worth $151,933,000 after buying an additional 536,721 shares in the last quarter. 93.61% of the stock is owned by hedge funds and other institutional investors.

Shares of Centene Corporation (CNC) opened at 82.14 on Friday. The firm has a market capitalization of $14.17 billion, a PE ratio of 18.03 and a beta of 0.66. The stock’s 50 day moving average price is $82.24 and its 200-day moving average price is $74.50. Centene Corporation has a 12 month low of $50.00 and a 12 month high of $87.94.

Centene Corporation (NYSE:CNC) last announced its quarterly earnings results on Tuesday, July 25th. The company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.29. The firm had revenue of $11.95 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company earned $1.29 earnings per share. On average, equities analysts anticipate that Centene Corporation will post $4.92 earnings per share for the current fiscal year.

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Several analysts have issued reports on CNC shares. Jefferies Group LLC restated a “buy” rating and set a $94.00 price objective on shares of Centene Corporation in a research note on Friday, July 14th. Zacks Investment Research cut Centene Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. BidaskClub upgraded Centene Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 24th. ValuEngine cut Centene Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Citigroup Inc. upped their price objective on Centene Corporation from $80.00 to $89.00 and gave the company a “sell” rating in a research note on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $86.82.

In other Centene Corporation news, Chairman Michael F. Neidorff sold 35,000 shares of the firm’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $80.26, for a total transaction of $2,809,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert K. Ditmore sold 3,900 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 $294,177.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,578 shares of company stock valued at $4,264,757. Corporate 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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Institutional Ownership by Quarter for Centene Corporation (NYSE:CNC)

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