ETRADE Capital Management LLC Buys 2,696 Shares of Centene Corporation (CNC)
ETRADE Capital Management LLC lifted its stake in Centene Corporation (NYSE:CNC) by 63.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,912 shares of the company’s stock after purchasing an additional 2,696 shares during the quarter. ETRADE Capital Management LLC’s holdings in Centene were worth $669,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. CFO4Life Group LLC increased its holdings in shares of Centene by 0.4% in the second quarter. CFO4Life Group LLC now owns 6,598 shares of the company’s stock valued at $527,000 after purchasing an additional 25 shares during the last quarter. MML Investors Services LLC increased its stake in Centene by 1.0% during the second quarter. MML Investors Services LLC now owns 3,587 shares of the company’s stock worth $287,000 after acquiring an additional 34 shares during the last quarter. Keybank National Association OH increased its stake in Centene by 1.1% during the second quarter. Keybank National Association OH now owns 3,180 shares of the company’s stock worth $254,000 after acquiring an additional 36 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Centene by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,799 shares of the company’s stock worth $1,022,000 after acquiring an additional 38 shares during the last quarter. Finally, Modera Wealth Management LLC increased its stake in Centene by 1.0% during the second quarter. Modera Wealth Management LLC now owns 5,086 shares of the company’s stock worth $406,000 after acquiring an additional 51 shares during the last quarter. 92.25% of the stock is owned by hedge funds and other institutional investors.
CNC has been the subject of several recent analyst reports. Deutsche Bank reissued a “buy” rating and set a $111.00 target price (up previously from $95.00) on shares of Centene in a research note on Thursday, September 14th. Oppenheimer raised their target price on Centene from $105.00 to $111.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 25th. Zacks Investment Research raised Centene from a “hold” rating to a “buy” rating and set a $107.00 target price for the company in a research note on Friday, September 15th. Jefferies Group raised their target price on Centene from $98.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, October 13th. Finally, Credit Suisse Group started coverage on Centene in a research report on Thursday, November 2nd. They set a “neutral” rating and a $102.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $99.11.
Centene Corporation (NYSE:CNC) opened at $101.10 on Friday. The stock has a market capitalization of $17,617.31, a price-to-earnings ratio of 19.45, a P/E/G ratio of 1.55 and a beta of 0.70. Centene Corporation has a fifty-two week low of $54.40 and a fifty-two week high of $102.99. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.71.
Centene (NYSE:CNC) last released its earnings results on Tuesday, October 24th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.11. The firm had revenue of $11.90 billion during the quarter, compared to analyst estimates of $11.75 billion. Centene had a return on equity of 14.79% and a net margin of 1.81%. Centene’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the business posted $1.12 earnings per share. research analysts anticipate that Centene Corporation will post 4.98 EPS for the current year.
In related news, Director Robert K. Ditmore sold 4,167 shares of Centene stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $90.42, for a total value of $376,780.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.00% of the company’s stock.
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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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