29,670 Centene Corporation $CNC Shares Acquired by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP grew its holdings in Centene Corporation (NYSE:CNC) by 1,263.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,019 shares of the company’s stock after acquiring an additional 29,670 shares during the period. Fulcrum Asset Management LLP’s holdings in Centene were worth $1,992,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of Centene during the second quarter worth about $2,660,422,000. Wellington Management Group LLP grew its stake in shares of Centene by 423.0% in the second quarter. Wellington Management Group LLP now owns 13,301,215 shares of the company’s stock valued at $853,805,000 after buying an additional 10,757,914 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Centene by 12.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,517,580 shares of the company’s stock valued at $354,173,000 after buying an additional 608,249 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Centene by 21.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,518,785 shares of the company’s stock valued at $302,818,000 after buying an additional 802,756 shares during the period. Finally, Bank of America Corp DE acquired a new position in Centene during the 2nd quarter worth approximately $285,713,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Wall Street Analyst Weigh In

CNC has been the subject of several recent research reports. Cantor Fitzgerald increased their price objective on shares of Centene from $75.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, October 28th. Weiss Ratings raised shares of Centene from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 28th. Wall Street Zen downgraded shares of Centene from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 31st. Argus raised shares of Centene from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a report on Tuesday, August 11th. Finally, Raymond James Financial set a $79.00 price target on shares of Centene in a research note on Wednesday, October 28th. Nine research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $73.80.

Insider Transactions at Centene

In other Centene news, General Counsel Christopher Koster sold 56,500 shares of the stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $66.90, for a total transaction 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 represents a 18.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.37% of the stock is owned by corporate insiders.

Centene Price Performance

CNC stock opened at $70.17 on Wednesday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.69. Centene Corporation has a 52-week low of $31.63 and a 52-week high of $78.08. The stock’s 50 day moving average is $66.83 and its two-hundred day moving average is $56.12. The company has a market capitalization of $34.74 billion, a PE ratio of 13.01, a P/E/G ratio of 0.40 and a beta of 1.07.

Centene (NYSE:CNC) last released its earnings results on Tuesday, October 27th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.10 by $0.48. Centene had a return on equity of 12.15% and a net margin of 0.72%. The company had revenue of $50.65 billion during the quarter, compared to analysts’ expectations of $47.12 billion. During the same period in the prior year, the business posted $0.50 EPS. The business’s revenue was up 1.9% on a year-over-year basis. Analysts predict that Centene Corporation will post 5.27 earnings per share for the current fiscal year.

Centene Profile

Centene Corporation is a U.S. health care company that provides managed care and related services, primarily for people enrolled in government-sponsored health programs. Its offerings include Medicaid and Medicare plans, as well as health insurance sold through the Affordable Care Act marketplace. Centene serves members through health plans and a network of health care providers. Its businesses include Ambetter, which offers marketplace health plans, and Wellcare, which provides Medicare-related coverage.