Teacher Retirement System of Texas Acquires 33,065 Shares of Centene Co. (NYSE:CNC)

Teacher Retirement System of Texas boosted its holdings in Centene Co. (NYSE:CNCGet Rating) by 24.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 169,943 shares of the company’s stock after purchasing an additional 33,065 shares during the quarter. Teacher Retirement System of Texas’ holdings in Centene were worth $14,379,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Tokio Marine Asset Management Co. Ltd. boosted its stake in Centene by 13.9% in the 2nd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,751 shares of the company’s stock worth $656,000 after purchasing an additional 947 shares during the period. Vantage Consulting Group Inc boosted its position in shares of Centene by 9.8% during the 2nd quarter. Vantage Consulting Group Inc now owns 3,424 shares of the company’s stock valued at $290,000 after acquiring an additional 305 shares during the last quarter. Wade G W & Inc. boosted its position in shares of Centene by 1,050.7% during the 2nd quarter. Wade G W & Inc. now owns 39,215 shares of the company’s stock valued at $3,318,000 after acquiring an additional 35,807 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of Centene by 19.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 29,163 shares of the company’s stock valued at $2,467,000 after acquiring an additional 4,812 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. boosted its position in shares of Centene by 2,460.9% during the 2nd quarter. C M Bidwell & Associates Ltd. now owns 2,817 shares of the company’s stock valued at $238,000 after acquiring an additional 2,707 shares during the last quarter. 94.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CNC has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft lowered their target price on Centene from $99.00 to $94.00 in a research report on Wednesday, October 26th. Cowen lowered their target price on Centene from $108.00 to $101.00 in a research report on Thursday, September 22nd. StockNews.com started coverage on Centene in a research report on Wednesday, October 12th. They set a “strong-buy” rating for the company. Wells Fargo & Company lowered Centene from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $103.00 to $99.00 in a report on Friday, August 26th. Finally, Argus started coverage on Centene in a report on Friday, September 30th. They set a “buy” rating and a $90.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Centene currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.68.

Centene Stock Performance

Shares of Centene stock opened at $87.05 on Thursday. The firm has a market cap of $49.29 billion, a P/E ratio of 25.38, a P/E/G ratio of 1.10 and a beta of 0.60. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.71. Centene Co. has a 12 month low of $69.51 and a 12 month high of $98.53. The stock’s fifty day moving average price is $80.46 and its 200-day moving average price is $85.05.

Centene (NYSE:CNCGet Rating) last announced its quarterly earnings results on Tuesday, October 25th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.22 by $0.08. Centene had a return on equity of 13.08% and a net margin of 1.42%. The firm had revenue of $35.84 billion for the quarter, compared to analyst estimates of $35.45 billion. During the same quarter last year, the firm posted $1.26 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, equities research analysts expect that Centene Co. will post 5.71 earnings per share for the current fiscal year.

Centene Company Profile

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Centene Corporation operates as a multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. Its 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 cover dually eligible individuals, as well as aged, blind, or disabled programs.

Further Reading

Institutional Ownership by Quarter for Centene (NYSE:CNC)

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