Centene Corporation (CNC) Stake Lowered by BB&T Securities LLC
BB&T Securities LLC decreased its stake in shares of Centene Corporation (NYSE:CNC) by 4.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,557 shares of the company’s stock after selling 1,388 shares during the period. BB&T Securities LLC’s holdings in Centene were worth $3,053,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Mckinley Capital Management LLC Delaware bought a new position in Centene during the second quarter valued at approximately $101,000. Seven Bridges Advisors LLC bought a new position in Centene during the second quarter valued at approximately $123,000. Baldwin Brothers Inc. MA bought a new position in Centene in the third quarter worth approximately $185,000. IFP Advisors Inc raised its position in Centene by 9.6% in the second quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock worth $155,000 after acquiring an additional 170 shares during the period. Finally, Calamos Advisors LLC bought a new position in Centene in the third quarter worth approximately $207,000. Institutional investors own 92.33% of the company’s stock.
In other news, Director Robert K. Ditmore sold 4,167 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were 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 at the SEC website. 3.00% of the stock is currently owned by company insiders.
Centene Corporation (CNC) opened at $101.10 on Monday. The company has a market cap of $17,446.47, a price-to-earnings ratio of 19.26, a price-to-earnings-growth ratio of 1.54 and a beta of 0.71. 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 Corporation has a 52 week low of $54.40 and a 52 week high of $102.99.
Centene (NYSE:CNC) last released its earnings results on Tuesday, October 24th. The company reported $1.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 net margin of 1.81% and a return on equity of 14.79%. The business’s revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the business earned $1.12 EPS. sell-side analysts anticipate that Centene Corporation will post 4.98 earnings per share for the current fiscal year.
Several research analysts have weighed in on the stock. Oppenheimer reiterated a “buy” rating and issued a $111.00 price target on shares of Centene in a research report on Wednesday, November 8th. Credit Suisse Group assumed coverage on shares of Centene in a research report on Thursday, November 2nd. They set a “neutral” rating and a $102.00 price objective on the stock. Cantor Fitzgerald restated a “buy” rating and set a $107.00 price objective on shares of Centene in a research report on Tuesday, October 24th. Cowen restated a “buy” rating and set a $115.00 price objective on shares of Centene in a research report on Tuesday, October 24th. Finally, BMO Capital Markets assumed coverage on shares of Centene in a research report on Tuesday, October 17th. They set an “outperform” rating and a $120.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have given a buy rating to the company’s stock. Centene presently has a consensus rating of “Buy” and a consensus price target of $99.11.
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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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