Retirement Systems of Alabama Buys 61,208 Shares of Centene Corporation (CNC)
Retirement Systems of Alabama lifted its stake in Centene Corporation (NYSE:CNC) by 73.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 144,738 shares of the company’s stock after purchasing an additional 61,208 shares during the quarter. Retirement Systems of Alabama owned about 0.08% of Centene Corporation worth $14,006,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Mckinley Capital Management LLC Delaware acquired a new stake in shares of Centene Corporation in the second quarter valued at approximately $101,000. Seven Bridges Advisors LLC acquired a new stake in shares of Centene Corporation in the second quarter valued at approximately $123,000. Baldwin Brothers Inc. MA acquired a new stake in shares of Centene Corporation in the third quarter valued at approximately $185,000. IFP Advisors Inc increased its holdings in shares of 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 purchasing an additional 170 shares during the last quarter. Finally, Calamos Advisors LLC acquired a new stake in shares of Centene Corporation in the third quarter valued at approximately $207,000. 93.43% of the stock is owned by hedge funds and other institutional investors.
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In other Centene Corporation news, Director Robert K. Ditmore sold 4,167 shares of Centene Corporation stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $90.42, for a total transaction of $376,780.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.00% of the stock is owned by insiders.
Shares of Centene Corporation (NYSE CNC) opened at $92.15 on Thursday. The stock has a market capitalization of $15,900.00, a PE ratio of 17.72, a price-to-earnings-growth ratio of 1.42 and a beta of 0.67. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.71. Centene Corporation has a fifty-two week low of $54.40 and a fifty-two week high of $98.71.
Centene Corporation (NYSE:CNC) last announced its quarterly earnings results on Tuesday, October 24th. The company reported $1.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.11. The company had revenue of $11.90 billion during the quarter, compared to the consensus estimate of $11.75 billion. Centene Corporation had a return on equity of 14.79% and a net margin of 1.81%. Centene Corporation’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.12 EPS. sell-side analysts predict that Centene Corporation will post 4.98 earnings per share for the current fiscal year.
Several equities research analysts recently commented on CNC shares. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $90.00 price target on shares of Centene Corporation in a report on Tuesday, July 25th. Morgan Stanley reaffirmed an “overweight” rating and issued a $94.00 price target (up previously from $86.00) on shares of Centene Corporation in a report on Wednesday, July 26th. UBS AG reissued a “buy” rating and set a $95.00 target price (up previously from $88.00) on shares of Centene Corporation in a research note on Wednesday, July 26th. Citigroup Inc. raised their target price on Centene Corporation from $80.00 to $89.00 and gave the stock a “sell” rating in a research note on Wednesday, July 26th. Finally, ValuEngine raised Centene Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $99.11.
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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