Public Employees Retirement System of Ohio lifted its holdings in Centene Corp (NYSE:CNC) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,746 shares of the company’s stock after purchasing an additional 4,781 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Centene were worth $9,887,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. CI Investments Inc. grew its stake in Centene by 35.6% during the fourth quarter. CI Investments Inc. now owns 261,900 shares of the company’s stock worth $30,197,000 after buying an additional 68,800 shares in the last quarter. Piedmont Investment Advisors Inc. grew its stake in Centene by 6.4% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 16,022 shares of the company’s stock worth $1,847,000 after buying an additional 968 shares in the last quarter. Tdam USA Inc. grew its stake in Centene by 3.5% during the fourth quarter. Tdam USA Inc. now owns 84,533 shares of the company’s stock worth $9,747,000 after buying an additional 2,873 shares in the last quarter. DAVENPORT & Co LLC acquired a new stake in Centene during the fourth quarter worth about $473,000. Finally, Toronto Dominion Bank grew its stake in Centene by 46.6% during the fourth quarter. Toronto Dominion Bank now owns 279,256 shares of the company’s stock worth $32,195,000 after buying an additional 88,761 shares in the last quarter. 45.57% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have issued reports on CNC. Zacks Investment Research upgraded shares of Centene from a “hold” rating to a “buy” rating in a research note on Wednesday, February 6th. Oppenheimer reduced their price target on shares of Centene from $165.00 to $83.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 6th. Jefferies Financial Group restated a “buy” rating and issued a $76.00 price target on shares of Centene in a research note on Thursday, February 7th. ValuEngine downgraded shares of Centene from a “hold” rating to a “sell” rating in a research note on Friday, February 8th. Finally, Cowen assumed coverage on shares of Centene in a research note on Thursday, February 28th. They issued an “outperform” rating and a $77.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $76.87.
Centene stock traded up $1.19 during mid-day trading on Friday, hitting $48.20. 17,863,700 shares of the stock were exchanged, compared to its average volume of 10,152,706. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.00. Centene Corp has a 12 month low of $45.44 and a 12 month high of $74.49. The firm has a market cap of $19.92 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 0.85 and a beta of 1.26.
Centene (NYSE:CNC) last released its quarterly earnings results on Tuesday, February 5th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.05. Centene had a net margin of 1.50% and a return on equity of 14.10%. The firm had revenue of $16.56 billion during the quarter, compared to analyst estimates of $16.38 billion. During the same quarter last year, the business earned $0.49 EPS. The company’s revenue was up 29.3% compared to the same quarter last year. As a group, equities research analysts predict that Centene Corp will post 4.24 EPS for the current fiscal year.
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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