SG Americas Securities LLC Purchases 5,757 Shares of Centene Corporation (CNC)
SG Americas Securities LLC boosted its stake in Centene Corporation (NYSE:CNC) by 9.8% during the second quarter, Holdings Channel reports. The institutional investor owned 64,665 shares of the company’s stock after buying an additional 5,757 shares during the period. SG Americas Securities LLC’s holdings in Centene Corporation were worth $5,165,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State of Wisconsin Investment Board boosted its position in Centene Corporation by 22.0% in the second quarter. State of Wisconsin Investment Board now owns 214,448 shares of the company’s stock valued at $17,130,000 after buying an additional 38,740 shares in the last quarter. LMR Partners LLP purchased a new position in Centene Corporation during the second quarter valued at $678,000. Dupont Capital Management Corp boosted its position in Centene Corporation by 572.2% in the second quarter. Dupont Capital Management Corp now owns 68,205 shares of the company’s stock valued at $5,448,000 after buying an additional 58,059 shares in the last quarter. Savant Capital LLC purchased a new position in Centene Corporation during the second quarter valued at $239,000. Finally, Rational Advisors LLC purchased a new position in Centene Corporation during the second quarter valued at $767,000. 93.09% of the stock is owned by institutional investors.
Shares of Centene Corporation (CNC) opened at 83.62 on Friday. The stock has a 50 day moving average price of $82.33 and a 200-day moving average price of $75.05. The firm has a market capitalization of $14.42 billion, a PE ratio of 18.35 and a beta of 0.66. Centene Corporation has a 52-week low of $50.00 and a 52-week high of $87.94.
Centene Corporation (NYSE:CNC) last announced its earnings results on Tuesday, July 25th. The company reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.29. Centene Corporation had a return on equity of 14.62% and a net margin of 1.72%. The firm had revenue of $11.95 billion for the quarter, compared to the consensus estimate of $11.69 billion. During the same quarter in the previous year, the business earned $1.29 EPS. The company’s revenue was up 9.7% compared to the same quarter last year. Equities analysts forecast that Centene Corporation will post $4.92 EPS for the current year.
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Several research analysts have recently weighed in on the company. Zacks Investment Research cut Centene Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. BidaskClub cut Centene Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Jefferies Group LLC reissued a “buy” rating and set a $98.00 price target on shares of Centene Corporation in a research report on Thursday, July 27th. Piper Jaffray Companies reissued a “buy” rating and set a $105.00 price target on shares of Centene Corporation in a research report on Thursday, July 27th. Finally, ValuEngine raised Centene Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $86.82.
In related news, Director Robert K. Ditmore sold 3,900 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $75.43, for a total value of $294,177.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Michael F. Neidorff sold 35,000 shares of the company’s stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $80.26, for a total value of $2,809,100.00. The disclosure for this sale can be found here. Insiders sold a total of 53,578 shares of company stock worth $4,264,757 in the last 90 days. Company insiders own 3.00% of the company’s stock.
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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