Engineers Gate Manager LP Has $1.26 Million Stake in Centene Corporation (CNC)
Engineers Gate Manager LP decreased its stake in Centene Corporation (NYSE:CNC) by 77.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,024 shares of the company’s stock after selling 44,639 shares during the period. Engineers Gate Manager LP’s holdings in Centene were worth $1,260,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan grew its holdings in Centene by 45.7% during the second quarter. Municipal Employees Retirement System of Michigan now owns 7,910 shares of the company’s stock worth $632,000 after purchasing an additional 2,480 shares during the period. IFP Advisors Inc boosted its holdings in shares of Centene by 9.6% during the second quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock worth $155,000 after acquiring an additional 170 shares during the period. Retirement Systems of Alabama boosted its holdings in shares of Centene by 0.4% during the second quarter. Retirement Systems of Alabama now owns 83,530 shares of the company’s stock worth $6,672,000 after acquiring an additional 374 shares during the period. Global X Management Co. LLC boosted its holdings in shares of Centene by 32.9% during the second quarter. Global X Management Co. LLC now owns 6,046 shares of the company’s stock worth $483,000 after acquiring an additional 1,496 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Centene by 28.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 788,573 shares of the company’s stock worth $62,992,000 after acquiring an additional 176,403 shares during the period. Institutional investors own 92.33% of the company’s stock.
CNC has been the subject of a number of research analyst reports. Cantor Fitzgerald restated a “buy” rating and set a $107.00 price objective on shares of Centene in a report on Tuesday, October 24th. Cowen restated a “buy” rating and set a $115.00 price objective on shares of Centene in a report on Tuesday, October 24th. Piper Jaffray Companies restated a “buy” rating and set a $105.00 price objective on shares of Centene in a report on Friday, September 1st. BidaskClub upgraded Centene from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. Finally, Jefferies Group lifted their price target on shares of Centene from $98.00 to $112.00 and gave the company a “buy” rating in a research report on Friday, October 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $99.11.
In other Centene news, Director Robert K. Ditmore sold 4,167 shares of the business’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $90.42, for a total transaction of $376,780.14. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.00% of the company’s stock.
Centene Corporation (CNC) opened at $99.70 on Tuesday. Centene Corporation has a 1 year low of $54.40 and a 1 year high of $103.15. The company has a market cap of $17,487.89, a P/E ratio of 19.30, a price-to-earnings-growth ratio of 1.54 and a beta of 0.71. 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 (NYSE:CNC) last announced its quarterly earnings data on Tuesday, October 24th. The company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.24 by $0.11. Centene had a net margin of 1.81% and a return on equity of 14.79%. The business had revenue of $11.90 billion during the quarter, compared to the consensus estimate of $11.75 billion. During the same period in the previous year, the business earned $1.12 earnings per share. The company’s revenue was up 9.7% on a year-over-year basis. equities research analysts anticipate that Centene Corporation will post 4.98 EPS for the current year.
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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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