Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Centene Corp (NYSE:CNC) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,062 shares of the company’s stock, valued at approximately $468,000.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Lindbrook Capital LLC bought a new position in Centene in the 4th quarter worth approximately $31,000. Bessemer Group Inc. raised its position in shares of Centene by 140.7% during the 4th quarter. Bessemer Group Inc. now owns 349 shares of the company’s stock valued at $41,000 after acquiring an additional 204 shares during the last quarter. Prime Capital Investment Advisors LLC bought a new stake in shares of Centene during the 4th quarter valued at $47,000. Exane Asset Management raised its position in shares of Centene by 40.7% during the 4th quarter. Exane Asset Management now owns 678 shares of the company’s stock valued at $78,000 after acquiring an additional 196 shares during the last quarter. Finally, Flagship Harbor Advisors LLC raised its position in shares of Centene by 39.5% during the 4th quarter. Flagship Harbor Advisors LLC now owns 706 shares of the company’s stock valued at $81,000 after acquiring an additional 200 shares during the last quarter. 45.57% of the stock is currently owned by institutional investors and hedge funds.
CNC has been the subject of several recent research reports. Zacks Investment Research cut shares of Centene from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 15th. Credit Suisse Group decreased their price target on shares of Centene from $76.00 to $63.00 and set a “neutral” rating for the company in a report on Friday, March 29th. Stephens began coverage on shares of Centene in a report on Monday, January 14th. They issued an “overweight” rating and a $73.50 price target for the company. Cantor Fitzgerald reissued a “buy” rating and issued a $83.00 price target on shares of Centene in a report on Wednesday, February 27th. Finally, Cowen reissued a “buy” rating and issued a $77.00 price target on shares of Centene in a report on Sunday, March 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $76.87.
Centene (NYSE:CNC) last issued its earnings results on Tuesday, February 5th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.05. The company had revenue of $16.56 billion for the quarter, compared to analysts’ expectations of $16.38 billion. Centene had a net margin of 1.50% and a return on equity of 14.10%. Centene’s quarterly revenue was up 29.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 EPS. On average, analysts anticipate that Centene Corp will post 4.24 earnings per share for the current fiscal year.
In other Centene news, EVP Christopher D. Bowers sold 9,200 shares of the stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $65.01, for a total value of $598,092.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.50% of the stock is owned by corporate insiders.
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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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