Centene Corporation $CNC Holdings Boosted by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. boosted its holdings in Centene Corporation (NYSE:CNC) by 21.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,328,930 shares of the company’s stock after acquiring an additional 580,221 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Centene were worth $206,793,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CNC. Silicon Valley Capital Partners acquired a new position in Centene during the second quarter worth $25,000. North Point Portfolio Managers Corp OH bought a new position in shares of Centene in the third quarter valued at $25,000. Toth Financial Advisory Corp bought a new position in shares of Centene in the third quarter valued at $30,000. MidFirst Bank acquired a new position in shares of Centene during the second quarter valued at about $32,000. Finally, Fiduciary Financial Advisors bought a new stake in shares of Centene during the second quarter worth about $34,000. Institutional investors own 93.63% of the company’s stock.

Centene Price Performance

CNC opened at $70.85 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.15 and a quick ratio of 1.15. The company has a market capitalization of $35.00 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 0.43 and a beta of 1.13. The firm’s fifty day moving average price is $65.58 and its two-hundred day moving average price is $60.38. Centene Corporation has a 1 year low of $31.63 and a 1 year high of $71.21.

Centene (NYSE:CNC) last posted its earnings results on Monday, July 27th. The company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $1.42. The firm had revenue of $53.58 billion during the quarter, compared to analyst estimates of $47.64 billion. Centene had a negative net margin of 2.51% and a positive return on equity of 12.12%. The business’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.16) EPS. As a group, analysts anticipate that Centene Corporation will post 4.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CNC shares. Cantor Fitzgerald restated an “overweight” rating on shares of Centene in a report on Friday, October 9th. UBS Group set a $79.00 price target on Centene in a research note on Tuesday, August 18th. Raymond James Financial set a $75.00 price objective on Centene in a report on Tuesday, July 7th. TD Cowen reissued a “hold” rating and set a $65.00 price objective (up from $47.00) on shares of Centene in a report on Tuesday, July 14th. Finally, Barclays reissued an “overweight” rating and issued a $80.00 price objective (up from $75.00) on shares of Centene in a research note on Wednesday, July 29th. Nine equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $70.05.

Insiders Place Their Bets

In related news, General Counsel Christopher Koster sold 56,500 shares of the business’s stock in a transaction dated 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 approximately $16,648,332.60. The trade was a 18.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.37% of the company’s stock.

Centene Company Profile

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.