Sentry Investment Management LLC Holds Stake in Centene Corporation (CNC)
Sentry Investment Management LLC held its stake in Centene Corporation (NYSE:CNC) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,819 shares of the company’s stock at the end of the second quarter. Sentry Investment Management LLC’s holdings in Centene Corporation were worth $704,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in CNC. Ameriprise Financial Inc. boosted its holdings in Centene Corporation by 318.6% in the second quarter. Ameriprise Financial Inc. now owns 3,504,359 shares of the company’s stock valued at $279,882,000 after purchasing an additional 2,667,189 shares in the last quarter. AJO LP acquired a new position in Centene Corporation in the second quarter valued at approximately $100,314,000. AQR Capital Management LLC boosted its holdings in Centene Corporation by 108.0% in the first quarter. AQR Capital Management LLC now owns 2,088,867 shares of the company’s stock valued at $148,853,000 after purchasing an additional 1,084,628 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Centene Corporation by 4.9% in the second quarter. Vanguard Group Inc. now owns 16,726,500 shares of the company’s stock valued at $1,336,113,000 after purchasing an additional 774,474 shares in the last quarter. Finally, Numeric Investors LLC boosted its holdings in Centene Corporation by 270.1% in the second quarter. Numeric Investors LLC now owns 1,001,500 shares of the company’s stock valued at $80,000,000 after purchasing an additional 730,900 shares in the last quarter. 92.10% of the stock is owned by hedge funds and other institutional investors.
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A number of brokerages recently issued reports on CNC. Citigroup Inc. upped their price target on Centene Corporation from $80.00 to $89.00 and gave the company a “sell” rating in a report on Wednesday, July 26th. Leerink Swann reaffirmed a “market perform” rating and issued a $90.00 price target (up from $78.00) on shares of Centene Corporation in a report on Wednesday, September 13th. Cowen and Company reaffirmed an “outperform” rating and issued a $105.00 price target (up from $77.00) on shares of Centene Corporation in a report on Wednesday, September 13th. Morgan Stanley reaffirmed an “overweight” rating and issued a $94.00 price target (up from $86.00) on shares of Centene Corporation in a report on Wednesday, July 26th. Finally, UBS AG reaffirmed a “buy” rating and issued a $95.00 price target (up from $88.00) on shares of Centene Corporation in a report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $95.58.
In related news, EVP Christopher D. Bowers sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $79.43, for a total value of $317,720.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert K. Ditmore sold 4,167 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $82.59, for a total value of $344,152.53. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.
Shares of Centene Corporation (NYSE:CNC) opened at 96.50 on Friday. Centene Corporation has a 1-year low of $50.00 and a 1-year high of $98.72. The stock has a market cap of $16.64 billion, a PE ratio of 21.18 and a beta of 0.68. The stock’s 50 day moving average price is $93.49 and its 200 day moving average price is $82.41.
Centene Corporation (NYSE:CNC) last issued its earnings results on Tuesday, July 25th. The company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.30 by $0.29. The company had revenue of $11.95 billion during the quarter, compared to analyst estimates of $11.69 billion. Centene Corporation had a return on equity of 14.62% and a net margin of 1.72%. The business’s revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.29 EPS. On average, equities research analysts anticipate that Centene Corporation will post $4.92 EPS for the current fiscal year.
Centene Corporation 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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