Bridgewater Wealth & Financial Management LLC increased its stake in Centene Corporation (NYSE:CNC) by 8.5% during the second quarter, Holdings Channel reports. The institutional investor owned 82,757 shares of the company’s stock after buying an additional 6,455 shares during the period. Centene Corporation comprises 2.2% of Bridgewater Wealth & Financial Management LLC’s investment portfolio, making the stock its 17th largest position. Bridgewater Wealth & Financial Management LLC’s holdings in Centene Corporation were worth $6,611,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Macquarie Group Ltd. increased its stake in shares of Centene Corporation by 15.2% in the fourth quarter. Macquarie Group Ltd. now owns 92,969 shares of the company’s stock valued at $5,254,000 after buying an additional 12,250 shares in the last quarter. Creative Planning increased its stake in shares of Centene Corporation by 5.4% in the first quarter. Creative Planning now owns 2,476 shares of the company’s stock valued at $176,000 after buying an additional 127 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in shares of Centene Corporation by 1.8% in the first quarter. Gulf International Bank UK Ltd now owns 51,917 shares of the company’s stock valued at $3,699,000 after buying an additional 900 shares in the last quarter. National Pension Service increased its stake in shares of Centene Corporation by 1.3% in the first quarter. National Pension Service now owns 159,239 shares of the company’s stock valued at $11,489,000 after buying an additional 2,015 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Centene Corporation by 89.1% in the first quarter. Bank of Montreal Can now owns 165,864 shares of the company’s stock valued at $11,820,000 after buying an additional 78,140 shares in the last quarter. 93.09% of the stock is currently owned by institutional investors.

Centene Corporation (NYSE CNC) opened at 83.87 on Thursday. The company has a 50-day moving average of $82.27 and a 200-day moving average of $74.99. The stock has a market capitalization of $14.47 billion, a price-to-earnings ratio of 18.40 and a beta of 0.66. Centene Corporation has a 52 week low of $50.00 and a 52 week high of $87.94.

Centene Corporation (NYSE:CNC) last issued its earnings results on Tuesday, July 25th. The company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.29. Centene Corporation had a net margin of 1.72% and a return on equity of 14.62%. The company had revenue of $11.95 billion for the quarter, compared to analyst estimates of $11.69 billion. During the same period in the prior year, the business posted $1.29 earnings per share. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. Analysts anticipate that Centene Corporation will post $4.92 earnings per share for the current year.

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CNC has been the topic of several analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $79.00 price target on shares of Centene Corporation in a research report on Wednesday, April 19th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $88.00 price target (up from $85.00) on shares of Centene Corporation in a research report on Tuesday, April 25th. Stifel Nicolaus increased their price target on Centene Corporation from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, April 26th. Evercore ISI increased their price target on Centene Corporation from $80.00 to $83.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 26th. Finally, Zacks Investment Research raised Centene Corporation from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research report on Thursday, April 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $86.82.

In other Centene Corporation news, Chairman Michael F. Neidorff sold 35,000 shares of the company’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 document filed with the SEC, which is available through this hyperlink. Also, Director Robert K. Ditmore sold 3,900 shares of the company’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. Insiders have sold 53,578 shares of company stock worth $4,264,757 over the last 90 days. 3.00% of the stock is currently owned by company insiders.

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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