Consolidated Investment Group LLC Acquires 16,500 Shares of Centene Corp (NYSE:CNC)

Consolidated Investment Group LLC grew its holdings in Centene Corp (NYSE:CNC) by 37.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,000 shares of the company’s stock after purchasing an additional 16,500 shares during the period. Centene makes up about 1.7% of Consolidated Investment Group LLC’s holdings, making the stock its 24th biggest position. Consolidated Investment Group LLC’s holdings in Centene were worth $3,198,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. American Century Companies Inc. increased its holdings in Centene by 5.0% during the 4th quarter. American Century Companies Inc. now owns 4,041 shares of the company’s stock worth $466,000 after acquiring an additional 192 shares during the period. Toth Financial Advisory Corp grew its stake in Centene by 100.0% in the 1st quarter. Toth Financial Advisory Corp now owns 480 shares of the company’s stock worth $25,000 after buying an additional 240 shares in the last quarter. Huntington National Bank grew its stake in Centene by 110.7% in the 1st quarter. Huntington National Bank now owns 472 shares of the company’s stock worth $25,000 after buying an additional 248 shares in the last quarter. Shamrock Asset Management LLC grew its stake in Centene by 100.0% in the 1st quarter. Shamrock Asset Management LLC now owns 522 shares of the company’s stock worth $28,000 after buying an additional 261 shares in the last quarter. Finally, North Star Investment Management Corp. grew its stake in Centene by 100.0% in the 1st quarter. North Star Investment Management Corp. now owns 600 shares of the company’s stock worth $32,000 after buying an additional 300 shares in the last quarter. 90.90% of the stock is currently owned by institutional investors.

A number of research firms have commented on CNC. ValuEngine cut shares of Centene from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 2nd. Zacks Investment Research cut shares of Centene from a “buy” rating to a “hold” rating and set a $59.00 price target for the company. in a research note on Wednesday, May 29th. Cantor Fitzgerald reissued a “buy” rating and issued a $83.00 price target on shares of Centene in a research note on Sunday, April 21st. Morgan Stanley cut their price target on shares of Centene from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Finally, Citigroup raised shares of Centene from a “neutral” rating to a “buy” rating and set a $69.00 price target for the company in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $75.26.

Shares of Centene stock traded up $0.26 during trading on Tuesday, reaching $48.78. The company’s stock had a trading volume of 266,666 shares, compared to its average volume of 4,840,797. Centene Corp has a 52-week low of $45.44 and a 52-week high of $74.49. The company has a market cap of $20.07 billion, a P/E ratio of 13.84, a price-to-earnings-growth ratio of 0.81 and a beta of 0.83. The firm has a 50-day simple moving average of $52.98. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.58.

Centene (NYSE:CNC) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.10. Centene had a net margin of 1.84% and a return on equity of 15.87%. The company had revenue of $18.36 billion during the quarter, compared to analysts’ expectations of $18.02 billion. During the same quarter in the prior year, the company earned $0.90 EPS. The firm’s revenue was up 29.4% on a year-over-year basis. As a group, analysts predict that Centene Corp will post 4.41 EPS for the current fiscal year.

In other Centene news, Director Jessica L. Blume acquired 2,850 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was bought at an average price of $52.99 per share, with a total value of $151,021.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.50% of the stock is currently owned by corporate insiders.

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. 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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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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