Stifel Financial Corp reduced its stake in Centene Corp (NYSE:CNC) by 24.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,533 shares of the company’s stock after selling 13,486 shares during the period. Stifel Financial Corp’s holdings in Centene were worth $4,793,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in CNC. Oregon Public Employees Retirement Fund increased its holdings in shares of Centene by 15,334.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,787,010 shares of the company’s stock valued at $85,000 after purchasing an additional 9,723,601 shares during the last quarter. Capital International Investors acquired a new position in shares of Centene in the third quarter valued at $1,012,845,000. FMR LLC increased its holdings in shares of Centene by 203.4% in the third quarter. FMR LLC now owns 2,419,139 shares of the company’s stock valued at $350,243,000 after purchasing an additional 1,621,757 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Centene by 7.8% in the fourth quarter. BlackRock Inc. now owns 18,126,716 shares of the company’s stock valued at $2,090,011,000 after purchasing an additional 1,308,641 shares during the last quarter. Finally, Boston Partners acquired a new position in shares of Centene in the fourth quarter valued at $72,708,000. Hedge funds and other institutional investors own 45.57% of the company’s stock.
CNC has been the topic of several research reports. Goldman Sachs Group downgraded shares of Centene from a “conviction-buy” rating to a “buy” rating in a report on Monday, December 17th. Cantor Fitzgerald upped their price objective on shares of Centene from $72.50 to $82.50 and gave the company an “overweight” rating in a report on Monday, December 17th. ValuEngine downgraded shares of Centene from a “buy” rating to a “hold” rating in a research note on Monday, December 17th. Credit Suisse Group decreased their price target on shares of Centene from $76.00 to $63.00 and set a “neutral” rating on the stock in a research note on Friday, March 29th. Finally, Argus downgraded shares of Centene to a “hold” rating in a research note on Friday, March 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Centene has an average rating of “Buy” and an average price target of $76.87.
Centene (NYSE:CNC) last announced its quarterly earnings data on Tuesday, February 5th. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.05. The firm had revenue of $16.56 billion for the quarter, compared to the consensus estimate of $16.38 billion. Centene had a net margin of 1.50% and a return on equity of 14.10%. The business’s revenue for the quarter was up 29.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 earnings per share. On average, analysts forecast that Centene Corp will post 4.24 EPS for the current year.
In other Centene news, CFO Jeffrey A. Schwaneke sold 4,000 shares of the stock in a transaction dated Tuesday, January 15th. The shares were sold at an average price of $125.00, for a total transaction of $500,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Christopher D. Bowers sold 9,200 shares of the stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $65.01, for a total transaction of $598,092.00. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.
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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. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.
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