Centene Corporation (CNC) Shares Sold by World Asset Management Inc
World Asset Management Inc lowered its position in Centene Corporation (NYSE:CNC) by 17.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,528 shares of the company’s stock after selling 3,237 shares during the period. World Asset Management Inc’s holdings in Centene Corporation were worth $1,240,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. BNP Paribas Arbitrage SA boosted its stake in shares of Centene Corporation by 213.5% in the first quarter. BNP Paribas Arbitrage SA now owns 685,347 shares of the company’s stock worth $48,838,000 after buying an additional 466,768 shares in the last quarter. Raymond James Trust N.A. boosted its stake in shares of Centene Corporation by 3.2% in the first quarter. Raymond James Trust N.A. now owns 4,451 shares of the company’s stock worth $318,000 after buying an additional 139 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Centene Corporation during the first quarter worth about $409,000. Tyers Asset Management LLC boosted its stake in shares of Centene Corporation by 434.4% in the first quarter. Tyers Asset Management LLC now owns 23,856 shares of the company’s stock worth $1,700,000 after buying an additional 19,392 shares in the last quarter. Finally, Xact Kapitalforvaltning AB boosted its stake in shares of Centene Corporation by 4.2% in the first quarter. Xact Kapitalforvaltning AB now owns 30,398 shares of the company’s stock worth $2,166,000 after buying an additional 1,212 shares in the last quarter. Institutional investors own 93.60% of the company’s stock.
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Centene Corporation (NYSE:CNC) opened at 83.19 on Friday. The firm’s 50-day moving average is $81.53 and its 200 day moving average is $73.62. Centene Corporation has a 12 month low of $50.00 and a 12 month high of $87.94. The firm has a market capitalization of $14.35 billion, a P/E ratio of 18.26 and a beta of 0.66.
Centene Corporation (NYSE:CNC) last posted its quarterly earnings data on Tuesday, July 25th. The company reported $1.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.29. The firm had revenue of $11.95 billion for the quarter, compared to analysts’ expectations of $11.69 billion. Centene Corporation had a net margin of 1.72% and a return on equity of 14.62%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company posted $1.29 EPS. On average, analysts expect that Centene Corporation will post $4.92 EPS for the current fiscal year.
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CNC has been the subject of a number of research analyst reports. Bank of America Corporation boosted their price objective on Centene Corporation from $93.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, July 14th. Jefferies Group LLC restated a “buy” rating and set a $85.00 price objective (up previously from $83.00) on shares of Centene Corporation in a report on Saturday, April 29th. BidaskClub cut Centene Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Zacks Investment Research upgraded Centene Corporation from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a report on Thursday, April 27th. Finally, J P Morgan Chase & Co cut Centene Corporation from an “overweight” rating to a “neutral” rating and set a $75.00 price objective for the company. in a report on Monday, May 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Centene Corporation has a consensus rating of “Buy” and an average target price of $86.82.
In other news, Chairman Michael F. Neidorff sold 35,000 shares of the firm’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 legal filing with the SEC, which is available at the SEC website. Also, SVP Mark J. Brooks sold 2,161 shares of the firm’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $75.43, for a total transaction of $163,004.23. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,578 shares of company stock worth $4,264,757. Corporate 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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