BB&T Corp Has $15.31 Million Holdings in Centene Corp (CNC)

BB&T Corp cut its holdings in Centene Corp (NYSE:CNC) by 8.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 132,804 shares of the company’s stock after selling 12,265 shares during the quarter. BB&T Corp owned 0.06% of Centene worth $15,312,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in shares of Centene by 6.1% during the 3rd quarter. BlackRock Inc. now owns 16,818,075 shares of the company’s stock valued at $2,434,920,000 after buying an additional 970,422 shares during the period. Capital International Investors bought a new position in shares of Centene during the 3rd quarter valued at $1,012,845,000. FMR LLC lifted its holdings in shares of Centene by 203.4% during the 3rd quarter. FMR LLC now owns 2,419,139 shares of the company’s stock valued at $350,243,000 after buying an additional 1,621,757 shares during the period. Northern Trust Corp lifted its holdings in shares of Centene by 15.6% during the 2nd quarter. Northern Trust Corp now owns 2,306,279 shares of the company’s stock valued at $284,156,000 after buying an additional 311,998 shares during the period. Finally, Deutsche Bank AG lifted its holdings in shares of Centene by 7.7% during the 3rd quarter. Deutsche Bank AG now owns 1,968,276 shares of the company’s stock valued at $284,963,000 after buying an additional 141,514 shares during the period. 93.34% of the stock is currently owned by institutional investors and hedge funds.

Shares of CNC stock opened at $63.69 on Thursday. Centene Corp has a 52-week low of $48.81 and a 52-week high of $74.49. The company has a quick ratio of 1.03, a current ratio of 1.00 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $25.90 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 1.11 and a beta of 1.32.

Centene (NYSE:CNC) last issued its quarterly earnings results on Tuesday, February 5th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.05. The business had revenue of $16.56 billion during the quarter, compared to analyst estimates of $16.38 billion. Centene had a return on equity of 14.10% and a net margin of 1.50%. Centene’s revenue for the quarter was up 29.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.49 EPS. Analysts expect that Centene Corp will post 4.23 EPS for the current year.

In other news, CFO Jeffrey A. Schwaneke sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, January 15th. The stock was sold at an average price of $125.00, for a total transaction of $500,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark J. Brooks sold 2,540 shares of the firm’s stock in a transaction dated Tuesday, December 18th. The shares were sold at an average price of $121.26, for a total value of $308,000.40. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.

CNC has been the topic of several research analyst reports. Goldman Sachs Group cut Centene from a “conviction-buy” rating to a “buy” rating in a report on Monday, December 17th. Cantor Fitzgerald upped their price objective on Centene from $72.50 to $82.50 and gave the stock an “overweight” rating in a research note on Monday, December 17th. ValuEngine lowered Centene from a “buy” rating to a “hold” rating in a research note on Monday, December 17th. Zacks Investment Research upgraded Centene from a “hold” rating to a “buy” rating and set a $66.50 price objective for the company in a research note on Friday, January 11th. Finally, Leerink Swann upgraded Centene from a “market perform” rating to an “outperform” rating and set a $79.84 price objective for the company in a research note on Wednesday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have issued a buy rating to the company. Centene presently has a consensus rating of “Buy” and an average target price of $77.65.

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Centene Profile

Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. It operates through two segments, Managed Care and Specialty Services. The Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term care, foster care, and dual eligible individual, as well as aged, blind, or disabled programs.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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