New Mexico Educational Retirement Board boosted its holdings in shares of Centene Corp (NYSE:CNC) by 95.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,200 shares of the company’s stock after purchasing an additional 16,700 shares during the period. New Mexico Educational Retirement Board’s holdings in Centene were worth $1,816,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Prime Capital Investment Advisors LLC lifted its stake in Centene by 79.9% during the first quarter. Prime Capital Investment Advisors LLC now owns 734 shares of the company’s stock valued at $39,000 after purchasing an additional 326 shares during the last quarter. Consolidated Investment Group LLC acquired a new stake in Centene during the first quarter valued at approximately $2,363,000. BKS Advisors LLC acquired a new stake in Centene during the first quarter valued at approximately $244,000. Flagship Harbor Advisors LLC lifted its stake in Centene by 132.2% during the first quarter. Flagship Harbor Advisors LLC now owns 1,639 shares of the company’s stock valued at $87,000 after purchasing an additional 933 shares during the last quarter. Finally, Toth Financial Advisory Corp lifted its stake in Centene by 100.0% during the first quarter. Toth Financial Advisory Corp now owns 480 shares of the company’s stock valued at $25,000 after purchasing an additional 240 shares during the last quarter. 45.57% of the stock is owned by institutional investors and hedge funds.

A number of research firms have recently issued reports on CNC. ValuEngine lowered shares of Centene from a “sell” rating to a “strong sell” rating in a report on Thursday. Zacks Investment Research lowered shares of Centene from a “strong-buy” rating to a “hold” rating in a report on Monday, April 15th. Cowen restated a “buy” rating and set a $77.00 price target on shares of Centene in a report on Sunday, March 31st. Credit Suisse Group cut their price target on shares of Centene from $76.00 to $63.00 and set a “neutral” rating on the stock in a report on Friday, March 29th. Finally, Argus lowered shares of Centene to a “hold” rating in a report on Friday, March 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $76.87.

Centene stock opened at $48.20 on Friday. The company has a market capitalization of $19.92 billion, a price-to-earnings ratio of 13.62, a P/E/G ratio of 0.94 and a beta of 1.26. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.60. Centene Corp has a twelve month low of $45.44 and a twelve month high of $74.49.

Centene (NYSE:CNC) last released its quarterly earnings data on Tuesday, February 5th. The company reported $1.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.05. The firm had revenue of $16.56 billion for the quarter, compared to analyst estimates of $16.38 billion. Centene had a net margin of 1.50% and a return on equity of 14.10%. The company’s revenue for the quarter was up 29.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.49 EPS. Equities research analysts forecast that Centene Corp will post 4.24 earnings per share for the current year.

In other Centene news, EVP Christopher D. Bowers sold 9,200 shares of the company’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $65.01, for a total value of $598,092.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.50% of the stock is currently owned by corporate insiders.

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Centene Company Profile

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. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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