Centene Corporation $CNC Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Centene Corporation (NYSE:CNC) by 4.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,123,854 shares of the company’s stock after acquiring an additional 43,798 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Centene were worth $69,814,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CNC. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Centene during the third quarter worth approximately $11,375,000. ProShare Advisors LLC increased its holdings in shares of Centene by 5.0% during the 3rd quarter. ProShare Advisors LLC now owns 102,343 shares of the company’s stock worth $6,358,000 after buying an additional 4,865 shares during the last quarter. Vise Technologies Inc. raised its position in shares of Centene by 23.5% during the 3rd quarter. Vise Technologies Inc. now owns 26,348 shares of the company’s stock valued at $1,637,000 after buying an additional 5,020 shares during the period. Summit Global Investments lifted its holdings in Centene by 403.4% in the third quarter. Summit Global Investments now owns 40,923 shares of the company’s stock valued at $2,542,000 after acquiring an additional 32,794 shares during the last quarter. Finally, Americana Partners LLC grew its holdings in shares of Centene by 53.9% during the 3rd quarter. Americana Partners LLC now owns 7,562 shares of the company’s stock worth $470,000 after purchasing an additional 2,647 shares during the period. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Trading Up 1.3%

Shares of CNC opened at $67.38 on Wednesday. The firm’s 50-day moving average is $66.16 and its two-hundred day moving average is $55.47. The firm has a market capitalization of $33.36 billion, a P/E ratio of 23.07, a PEG ratio of 0.39 and a beta of 1.07. Centene Corporation has a twelve month low of $31.63 and a twelve month high of $72.50. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.69.

Centene (NYSE:CNC) last released its quarterly earnings data on Tuesday, October 27th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.10 by $0.48. The business had revenue of $50.65 billion for the quarter, compared to analyst estimates of $47.12 billion. Centene had a net margin of 0.72% and a return on equity of 12.15%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.50 EPS. On average, research analysts predict that Centene Corporation will post 5.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on CNC. UBS Group raised their price target on Centene from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 28th. Barclays boosted their target price on Centene from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 28th. Mizuho set a $72.00 price target on Centene in a report on Wednesday, October 28th. Wells Fargo & Company increased their price objective on shares of Centene from $69.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, October 30th. Finally, HC Wainwright restated a “buy” rating on shares of Centene in a research report on Friday, September 11th. Nine investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Centene has a consensus rating of “Hold” and an average price target of $73.80.

Insider Buying and Selling at Centene

In other news, General Counsel Christopher Koster sold 56,500 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $66.90, for a total value of $3,779,850.00. Following the transaction, the general counsel directly owned 248,854 shares in the company, valued at $16,648,332.60. This trade represents a 18.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.37% of the company’s stock.

About Centene

Centene Corporation is a diversified healthcare enterprise that provides government-sponsored and commercial health insurance programs and related healthcare services. The company’s offerings are primarily focused on Medicaid, Medicare, and health insurance marketplace plans, with an emphasis on serving individuals and families who may have limited access to traditional healthcare coverage.

Centene operates Medicaid health plans through state-based contracts and offers Medicare Advantage, Medicare prescription drug, and Medicare Supplement products through its Wellcare brand.