Smith Asset Management Group LP increased its stake in Centene Corporation (NYSE:CNC) by 4.3% during the second quarter, Holdings Channel reports. The institutional investor owned 379,537 shares of the company’s stock after buying an additional 15,777 shares during the period. Smith Asset Management Group LP’s holdings in Centene Corporation were worth $30,330,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Macquarie Group Ltd. raised its position in Centene Corporation by 15.2% in the fourth quarter. Macquarie Group Ltd. now owns 92,969 shares of the company’s stock valued at $5,254,000 after buying an additional 12,250 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its position in Centene Corporation by 3.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 148,296 shares of the company’s stock valued at $10,567,000 after buying an additional 5,499 shares in the last quarter. Raymond James Trust N.A. raised its position in Centene Corporation by 3.2% in the first quarter. Raymond James Trust N.A. now owns 4,451 shares of the company’s stock valued at $318,000 after buying an additional 139 shares in the last quarter. Creative Planning raised its position in Centene Corporation by 5.4% in the first quarter. Creative Planning now owns 2,476 shares of the company’s stock valued at $176,000 after buying an additional 127 shares in the last quarter. Finally, Chesley Taft & Associates LLC raised its position in Centene Corporation by 12.9% in the first quarter. Chesley Taft & Associates LLC now owns 5,352 shares of the company’s stock valued at $381,000 after buying an additional 610 shares in the last quarter. 93.61% of the stock is owned by hedge funds and other institutional investors.

Shares of Centene Corporation (NYSE:CNC) opened at 81.41 on Friday. The company has a market capitalization of $14.04 billion, a P/E ratio of 17.86 and a beta of 0.66. Centene Corporation has a 1-year low of $50.00 and a 1-year high of $87.94. The firm’s 50 day moving average price is $82.26 and its 200-day moving average price is $74.36.

Centene Corporation (NYSE:CNC) last announced its quarterly earnings data on Tuesday, July 25th. The company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.29. Centene Corporation had a return on equity of 14.62% and a net margin of 1.72%. The firm had revenue of $11.95 billion during the quarter, compared to analysts’ expectations of $11.69 billion. During the same period last year, the business posted $1.29 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. Analysts expect that Centene Corporation will post $4.92 EPS for the current year.

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CNC has been the subject of several recent analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $79.00 price target on shares of Centene Corporation in a research report on Wednesday, April 19th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $88.00 price target (up previously from $85.00) on shares of Centene Corporation in a research report on Tuesday, April 25th. Stifel Nicolaus boosted their target price on Centene Corporation from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, April 26th. Evercore ISI boosted their target price on Centene Corporation from $80.00 to $83.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 26th. Finally, Zacks Investment Research raised Centene Corporation from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research report on Thursday, April 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the stock. Centene Corporation has an average rating of “Buy” and an average target price of $86.82.

In other news, Chairman Michael F. Neidorff sold 35,000 shares of the firm’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $80.26, for a total value of $2,809,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christopher D. Bowers sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $79.43, for a total value of $317,720.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,578 shares of company stock valued at $4,264,757. Company insiders own 3.00% of the company’s stock.

Centene Corporation Company 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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Institutional Ownership by Quarter for Centene Corporation (NYSE:CNC)

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