American International Group Inc. lifted its holdings in shares of Centene Corp (NYSE:CNC) by 99.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 196,259 shares of the company’s stock after acquiring an additional 97,974 shares during the period. American International Group Inc.’s holdings in Centene were worth $10,421,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Huntington National Bank lifted its holdings in shares of Centene by 110.7% during the first quarter. Huntington National Bank now owns 472 shares of the company’s stock worth $25,000 after purchasing an additional 248 shares during the period. Toth Financial Advisory Corp lifted its holdings in shares of Centene by 100.0% during the first quarter. Toth Financial Advisory Corp now owns 480 shares of the company’s stock worth $25,000 after purchasing an additional 240 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Centene during the first quarter worth about $27,000. Shamrock Asset Management LLC lifted its holdings in shares of Centene by 100.0% during the first quarter. Shamrock Asset Management LLC now owns 522 shares of the company’s stock worth $28,000 after purchasing an additional 261 shares during the period. Finally, Lindbrook Capital LLC acquired a new stake in shares of Centene during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 49.14% of the company’s stock.
A number of equities research analysts recently commented on the company. Zacks Investment Research downgraded Centene from a “buy” rating to a “hold” rating in a report on Friday. ValuEngine downgraded Centene from a “sell” rating to a “strong sell” rating in a report on Thursday, April 18th. Cowen reaffirmed a “buy” rating and set a $77.00 target price on shares of Centene in a report on Sunday, March 31st. Cantor Fitzgerald reaffirmed a “buy” rating and set a $83.00 target price on shares of Centene in a report on Sunday, April 21st. Finally, Credit Suisse Group decreased their target price on Centene from $76.00 to $63.00 and set a “neutral” rating for the company in a report on Friday, March 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $75.80.
Centene (NYSE:CNC) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.07. Centene had a return on equity of 14.60% and a net margin of 1.66%. The company had revenue of $18.44 billion during the quarter, compared to the consensus estimate of $17.44 billion. During the same period in the previous year, the company posted $2.17 earnings per share. Centene’s revenue for the quarter was up 39.8% on a year-over-year basis. On average, sell-side analysts anticipate that Centene Corp will post 4.36 EPS for the current year.
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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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