BB&T Corp decreased its position in Centene Corp (NYSE:CNC) by 7.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 145,069 shares of the company’s stock after selling 12,394 shares during the period. BB&T Corp owned approximately 0.07% of Centene worth $21,003,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC lifted its holdings in Centene by 22.2% in the third quarter. Nisa Investment Advisors LLC now owns 144,316 shares of the company’s stock valued at $20,894,000 after buying an additional 26,238 shares during the period. Gateway Investment Advisers LLC lifted its holdings in Centene by 10.2% in the third quarter. Gateway Investment Advisers LLC now owns 10,341 shares of the company’s stock valued at $1,497,000 after buying an additional 957 shares during the period. First Hawaiian Bank acquired a new position in Centene in the third quarter valued at $1,785,000. Polianta Ltd acquired a new position in Centene in the third quarter valued at $1,201,000. Finally, Iberiabank Corp acquired a new position in Centene in the third quarter valued at $546,000. Institutional investors and hedge funds own 90.08% of the company’s stock.
Shares of NYSE CNC traded down $1.06 during trading on Wednesday, hitting $145.40. 68,458 shares of the company traded hands, compared to its average volume of 1,472,969. The company has a current ratio of 1.25, a quick ratio of 1.26 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $29.72 billion, a P/E ratio of 28.95, a P/E/G ratio of 1.40 and a beta of 0.82. Centene Corp has a fifty-two week low of $89.08 and a fifty-two week high of $148.24.
Centene (NYSE:CNC) last posted its earnings results on Tuesday, July 24th. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.77 by $0.03. The company had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $13.82 billion. Centene had a net margin of 2.06% and a return on equity of 14.57%. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.59 earnings per share. Equities research analysts forecast that Centene Corp will post 7.08 EPS for the current year.
Several equities analysts recently issued reports on the stock. Credit Suisse Group boosted their target price on shares of Centene from $134.00 to $152.00 and gave the company a “neutral” rating in a report on Tuesday, September 4th. Morgan Stanley boosted their target price on shares of Centene from $138.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, September 5th. Oppenheimer upped their price objective on shares of Centene from $146.00 to $158.00 and gave the company an “outperform” rating in a report on Tuesday, October 2nd. MED upped their price objective on shares of Centene from $146.00 to $158.00 and gave the company an “outperform” rating in a report on Tuesday, October 2nd. Finally, Zacks Investment Research upgraded shares of Centene from a “sell” rating to a “hold” rating in a report on Thursday, October 4th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $147.76.
In other news, EVP Brandy Burkhalter sold 3,000 shares of the business’s stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $131.90, for a total transaction of $395,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Keith H. Williamson sold 2,000 shares of the business’s stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $145.00, for a total transaction of $290,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,550 shares of company stock valued at $4,564,790. 3.00% of the stock is currently owned by insiders.
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. It operates through two segments, Managed Care and Specialty Services. The Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term care, foster care, and dual eligible individual, as well as aged, blind, or disabled programs.
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