Burney Co. reduced its position in shares of Centene Co. (NYSE:CNC) by 8.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,940 shares of the company’s stock after selling 975 shares during the period. Burney Co.’s holdings in Centene were worth $1,169,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in Centene by 4.6% during the fourth quarter. BlackRock Inc. now owns 13,939,406 shares of the company’s stock worth $1,406,209,000 after buying an additional 616,914 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Centene by 68.2% during the fourth quarter. Acadian Asset Management LLC now owns 1,239,278 shares of the company’s stock worth $125,021,000 after buying an additional 502,329 shares during the last quarter. AGF Investments Inc. purchased a new stake in Centene during the fourth quarter worth about $49,577,000. Arrowstreet Capital Limited Partnership increased its holdings in Centene by 2,219.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 500,937 shares of the company’s stock worth $50,535,000 after buying an additional 479,337 shares during the last quarter. Finally, Mackay Shields LLC purchased a new stake in Centene during the first quarter worth about $46,698,000. 77.63% of the stock is currently owned by institutional investors.

A number of analysts recently issued reports on the stock. Morgan Stanley raised their price objective on shares of Centene from $126.00 to $127.00 and gave the stock an “overweight” rating in a report on Wednesday, April 25th. Zacks Investment Research downgraded shares of Centene from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 10th. Cantor Fitzgerald restated a “buy” rating and set a $125.00 price objective on shares of Centene in a report on Monday, April 2nd. BMO Capital Markets restated a “buy” rating on shares of Centene in a report on Monday, March 26th. Finally, Leerink Swann restated a “market perform” rating and set a $90.00 price objective (down previously from $100.00) on shares of Centene in a report on Tuesday, February 13th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Centene currently has an average rating of “Buy” and a consensus target price of $113.63.

In related news, EVP Christopher D. Bowers sold 4,800 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $102.27, for a total transaction of $490,896.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Keith H. Williamson sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 2nd. The shares were sold at an average price of $115.00, for a total transaction of $115,000.00. The disclosure for this sale can be found here. Insiders sold 265,550 shares of company stock valued at $28,712,209 in the last quarter. Corporate insiders own 3.00% of the company’s stock.

Centene opened at $113.06 on Thursday, according to Marketbeat Ratings. The stock has a market capitalization of $23.54 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 1.11 and a beta of 0.75. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.01 and a quick ratio of 1.01. Centene Co. has a twelve month low of $112.34 and a twelve month high of $113.36.

Centene (NYSE:CNC) last posted its earnings results on Tuesday, April 24th. The company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.25. The firm had revenue of $13.19 billion during the quarter, compared to the consensus estimate of $13.33 billion. Centene had a net margin of 2.06% and a return on equity of 15.69%. The company’s revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the company earned $1.12 earnings per share. equities research analysts anticipate that Centene Co. will post 7.07 EPS for the current fiscal year.

About Centene

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. It operates through two segments, Managed Care and Specialty Services. The Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term care, foster care, and dual eligible individual, as well as aged, blind, or disabled programs.

Want to see what other hedge funds are holding CNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Centene Co. (NYSE:CNC).

Institutional Ownership by Quarter for Centene (NYSE:CNC)

Receive News & Ratings for Centene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Centene and related companies with MarketBeat.com's FREE daily email newsletter.