Exxonmobil Investment Management Inc. TX Has $2.64 Million Position in Centene Corporation (CNC)
Exxonmobil Investment Management Inc. TX decreased its position in Centene Corporation (NYSE:CNC) by 13.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,077 shares of the company’s stock after selling 5,124 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Centene Corporation were worth $2,642,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Bronfman E.L. Rothschild L.P. boosted its position in shares of Centene Corporation by 5.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,662 shares of the company’s stock worth $118,000 after buying an additional 93 shares during the period. Quadrant Capital Group LLC boosted its position in shares of Centene Corporation by 5.6% in the first quarter. Quadrant Capital Group LLC now owns 2,263 shares of the company’s stock worth $155,000 after buying an additional 120 shares during the period. Creative Planning boosted its position in shares of Centene Corporation by 5.4% in the first quarter. Creative Planning now owns 2,476 shares of the company’s stock worth $176,000 after buying an additional 127 shares during the period. Howard Hughes Medical Institute boosted its position in shares of Centene Corporation by 96.7% in the first quarter. Howard Hughes Medical Institute now owns 2,685 shares of the company’s stock worth $191,000 after buying an additional 1,320 shares during the period. Finally, Reliance Trust Co. of Delaware acquired a new position in shares of Centene Corporation during the first quarter worth $201,000. 93.30% of the stock is owned by institutional investors and hedge funds.
Centene Corporation (NYSE CNC) opened at 82.80 on Monday. The firm has a market cap of $14.26 billion, a price-to-earnings ratio of 20.38 and a beta of 0.67. Centene Corporation has a 12-month low of $50.00 and a 12-month high of $85.79. The company’s 50 day moving average is $77.26 and its 200 day moving average is $69.76.
Centene Corporation (NYSE:CNC) last posted its quarterly earnings data on Tuesday, April 25th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.06. The business had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $11.44 billion. Centene Corporation had a net margin of 1.57% and a return on equity of 14.19%. Centene Corporation’s quarterly revenue was up 68.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 EPS. On average, equities analysts anticipate that Centene Corporation will post $4.76 earnings per share for the current year.
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Several research firms have commented on CNC. Bank of America Corporation lifted their target price on shares of Centene Corporation from $93.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday. Jefferies Group LLC reaffirmed a “buy” rating and issued a $94.00 target price on shares of Centene Corporation in a research note on Friday. Morgan Stanley began coverage on shares of Centene Corporation in a research note on Tuesday, June 6th. They issued an “overweight” rating and a $86.00 target price for the company. ValuEngine cut shares of Centene Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Stifel Nicolaus lifted their target price on shares of Centene Corporation from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, April 26th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $81.74.
In related news, Chairman Michael F. Neidorff sold 35,000 shares of the company’s stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $80.26, for a total transaction of $2,809,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Christopher D. Bowers sold 3,150 shares of the company’s stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $72.80, for a total transaction of $229,320.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 57,728 shares of company stock valued at $4,506,020. 3.00% of the stock is owned by insiders.
About Centene Corporation
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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