Centene Corporation (CNC) Shares Sold by ClariVest Asset Management LLC
ClariVest Asset Management LLC cut its stake in Centene Corporation (NYSE:CNC) by 53.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,622 shares of the company’s stock after selling 4,213 shares during the period. ClariVest Asset Management LLC’s holdings in Centene Corporation were worth $350,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Mckinley Capital Management LLC Delaware purchased a new position in Centene Corporation in the second quarter valued at about $101,000. Seven Bridges Advisors LLC purchased a new position in Centene Corporation in the second quarter valued at about $123,000. IFP Advisors Inc increased its holdings in Centene Corporation by 9.6% in the second quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock valued at $155,000 after buying an additional 170 shares in the last quarter. Baldwin Brothers Inc. MA purchased a new position in Centene Corporation in the third quarter valued at about $185,000. Finally, MV Capital Management Inc. purchased a new position in Centene Corporation in the second quarter valued at about $186,000. 93.70% of the stock is owned by institutional investors.
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Shares of Centene Corporation (NYSE CNC) opened at $96.95 on Thursday. The stock has a market cap of $16,207.45, a P/E ratio of 17.89, a P/E/G ratio of 1.43 and a beta of 0.67. Centene Corporation has a 1 year low of $54.40 and a 1 year high of $98.71. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.99 and a current ratio of 0.99.
Centene Corporation (NYSE:CNC) last announced its quarterly earnings results on Tuesday, October 24th. The company reported $1.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.11. The company had revenue of $11.90 billion for the quarter, compared to analyst estimates of $11.75 billion. Centene Corporation had a net margin of 1.81% and a return on equity of 14.79%. Centene Corporation’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the business earned $1.12 EPS. analysts forecast that Centene Corporation will post 4.98 EPS for the current year.
A number of research analysts have issued reports on the stock. Cowen and Company reaffirmed an “outperform” rating and issued a $105.00 target price (up from $77.00) on shares of Centene Corporation in a report on Wednesday, September 13th. Morgan Stanley reissued an “overweight” rating and set a $94.00 price objective (up from $86.00) on shares of Centene Corporation in a research note on Wednesday, July 26th. Cantor Fitzgerald raised their price objective on shares of Centene Corporation to $107.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 13th. Zacks Investment Research cut shares of Centene Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Finally, BidaskClub raised shares of Centene Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have assigned a buy rating to the stock. Centene Corporation has an average rating of “Buy” and a consensus price target of $99.11.
In other Centene Corporation news, Director Robert K. Ditmore sold 4,167 shares of Centene Corporation stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $90.42, for a total value of $376,780.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.00% of the stock is owned by company insiders.
Centene Corporation Profile
Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.
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