Macquarie Group Ltd. boosted its position in Centene Corp. (NYSE:CNC) by 391.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,900 shares of the company’s stock after buying an additional 4,700 shares during the period. Macquarie Group Ltd.’s holdings in Centene Corp. were worth $421,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in CNC. Carnick & Kubik Group LLC bought a new position in Centene Corp. during the second quarter worth $1,708,000. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Centene Corp. during the second quarter worth $491,000. Kentucky Retirement Systems bought a new position in Centene Corp. during the second quarter worth $1,035,000. Mason Street Advisors LLC bought a new position in Centene Corp. during the second quarter worth $1,639,000. Finally, Royal Bank of Canada boosted its position in Centene Corp. by 16.9% in the second quarter. Royal Bank of Canada now owns 838,067 shares of the company’s stock worth $59,813,000 after buying an additional 121,260 shares during the period. Institutional investors own 92.92% of the company’s stock.
Centene Corp. (NYSE:CNC) opened at 69.04 on Thursday. Centene Corp. has a 12-month low of $47.36 and a 12-month high of $75.57. The company has a 50-day moving average of $68.34 and a 200 day moving average of $65.59. The stock has a market cap of $11.79 billion, a price-to-earnings ratio of 26.65 and a beta of 1.00.
Centene Corp. (NYSE:CNC) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $1.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.20. The business earned $10.90 billion during the quarter, compared to analysts’ expectations of $10.80 billion. Centene Corp. had a return on equity of 14.27% and a net margin of 1.19%. The firm’s quarterly revenue was up 97.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 EPS. Equities analysts anticipate that Centene Corp. will post $4.37 earnings per share for the current year.
A number of equities analysts have recently weighed in on CNC shares. FBR & Co reaffirmed a “buy” rating on shares of Centene Corp. in a research note on Monday, June 20th. Cowen and Company reaffirmed a “buy” rating on shares of Centene Corp. in a research note on Monday, June 20th. Wells Fargo & Co. reissued a “buy” rating on shares of Centene Corp. in a research note on Monday, June 20th. Jefferies Group reissued a “buy” rating and issued a $80.00 price objective on shares of Centene Corp. in a research note on Wednesday, June 8th. Finally, Cantor Fitzgerald reissued a “buy” rating on shares of Centene Corp. in a research note on Saturday, June 4th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $80.88.
In related news, EVP Kenneth Rone Baldwin sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $71.00, for a total value of $426,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.50% of the stock is owned by corporate insiders.
About Centene Corp.
Centene Corporation is a diversified healthcare company that provides programs and services to government sponsored healthcare programs. The Company also provides education and outreach programs to inform and assist members in accessing appropriate healthcare services. The Company operates through two segments.
Want to see what other hedge funds are holding CNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Centene Corp. (NYSE:CNC).
Receive News & Ratings for Centene Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Centene Corp. and related companies with MarketBeat.com's FREE daily email newsletter.