CIBC Asset Management Inc Has $1.59 Million Stake in Centene Corporation (CNC)

CIBC Asset Management Inc grew its holdings in shares of Centene Corporation (NYSE:CNC) by 4.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,475 shares of the company’s stock after buying an additional 630 shares during the quarter. CIBC Asset Management Inc’s holdings in Centene Corporation were worth $1,594,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Centene Corporation by 4.9% during the second quarter. Vanguard Group Inc. now owns 16,726,500 shares of the company’s stock valued at $1,336,113,000 after buying an additional 774,474 shares during the last quarter. State Street Corp grew its stake in shares of Centene Corporation by 0.5% during the second quarter. State Street Corp now owns 7,154,348 shares of the company’s stock valued at $571,504,000 after buying an additional 35,040 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Centene Corporation by 12.4% during the second quarter. Wells Fargo & Company MN now owns 4,193,466 shares of the company’s stock valued at $334,973,000 after buying an additional 462,936 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Centene Corporation by 318.6% during the second quarter. Ameriprise Financial Inc. now owns 3,504,359 shares of the company’s stock valued at $279,882,000 after buying an additional 2,667,189 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Centene Corporation by 13.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,249,254 shares of the company’s stock valued at $179,673,000 after purchasing an additional 259,662 shares during the period. 93.43% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on CNC. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $111.00 price target on shares of Centene Corporation in a report on Wednesday, November 8th. Credit Suisse Group began coverage on Centene Corporation in a report on Thursday, November 2nd. They issued a “neutral” rating and a $102.00 price target for the company. Cantor Fitzgerald reiterated a “buy” rating and issued a $107.00 price target on shares of Centene Corporation in a report on Tuesday, October 24th. Cowen and Company reiterated a “buy” rating and issued a $115.00 price target on shares of Centene Corporation in a report on Tuesday, October 24th. Finally, BMO Capital Markets began coverage on Centene Corporation in a report on Tuesday, October 17th. They issued an “outperform” rating and a $120.00 price target for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $99.11.

Shares of Centene Corporation (CNC) opened at $95.14 on Friday. Centene Corporation has a twelve month low of $54.40 and a twelve month high of $98.71. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $16,560.00, a price-to-earnings ratio of 17.72, a PEG ratio of 1.42 and a beta of 0.67.

Centene Corporation (NYSE:CNC) last issued its quarterly earnings data on Tuesday, October 24th. The company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.24 by $0.11. Centene Corporation had a return on equity of 14.79% and a net margin of 1.81%. The firm had revenue of $11.90 billion during the quarter, compared to analyst estimates of $11.75 billion. During the same quarter in the prior year, the business posted $1.12 EPS. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. sell-side analysts expect that Centene Corporation will post 4.98 earnings per share for the current year.

In other news, Director Robert K. Ditmore sold 4,167 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $90.42, for a total transaction of $376,780.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.00% of the company’s stock.

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Centene Corporation Profile

Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.

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

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