Northwestern Mutual Investment Management Company LLC grew its holdings in Centene Corp (NYSE:CNC) by 89.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,465 shares of the company’s stock after buying an additional 14,391 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Centene were worth $1,810,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Savior LLC acquired a new stake in shares of Centene in the fourth quarter valued at about $32,000. Evolution Wealth Advisors LLC raised its position in shares of Centene by 118.7% in the first quarter. Evolution Wealth Advisors LLC now owns 551 shares of the company’s stock valued at $33,000 after buying an additional 299 shares during the last quarter. Shine Investment Advisory Services Inc. raised its position in shares of Centene by 44.9% in the fourth quarter. Shine Investment Advisory Services Inc. now owns 549 shares of the company’s stock valued at $35,000 after buying an additional 170 shares during the last quarter. Penserra Capital Management LLC raised its position in shares of Centene by 104.2% in the fourth quarter. Penserra Capital Management LLC now owns 582 shares of the company’s stock valued at $36,000 after buying an additional 297 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its position in shares of Centene by 43.0% in the fourth quarter. Meeder Asset Management Inc. now owns 609 shares of the company’s stock valued at $38,000 after buying an additional 183 shares during the last quarter. Institutional investors and hedge funds own 81.90% of the company’s stock.
Shares of CNC stock opened at $64.84 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market cap of $38.02 billion, a PE ratio of 32.75, a price-to-earnings-growth ratio of 0.95 and a beta of 0.74. The company has a 50-day moving average of $65.89 and a two-hundred day moving average of $61.56. Centene Corp has a 1-year low of $41.62 and a 1-year high of $74.70.
Centene (NYSE:CNC) last announced its earnings results on Tuesday, April 28th. The company reported $0.86 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by ($0.13). The company had revenue of $26.03 billion for the quarter, compared to analysts’ expectations of $23.96 billion. Centene had a return on equity of 11.47% and a net margin of 1.03%. The company’s quarterly revenue was up 41.1% compared to the same quarter last year. During the same period last year, the business earned $1.39 EPS. Sell-side analysts anticipate that Centene Corp will post 4.74 EPS for the current fiscal year.
In other news, EVP Kenneth A. Burdick sold 14,686 shares of the firm’s stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $62.22, for a total value of $913,762.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tommy G. Thompson sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $58.00, for a total transaction of $87,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 103,686 shares of company stock valued at $6,880,113. Insiders own 1.90% of the company’s stock.
A number of equities research analysts have recently commented on CNC shares. Wells Fargo & Co increased their target price on shares of Centene from $72.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. ValuEngine lowered shares of Centene from a “hold” rating to a “sell” rating in a report on Wednesday, April 29th. Zacks Investment Research lowered shares of Centene from a “buy” rating to a “hold” rating and set a $72.00 price objective for the company. in a report on Thursday, April 16th. Oppenheimer upped their price objective on shares of Centene from $83.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Finally, TheStreet raised shares of Centene from a “c+” rating to a “b” rating in a report on Wednesday, April 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Centene presently has an average rating of “Buy” and an average price target of $82.78.
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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