MetLife Investment Advisors LLC bought a new stake in Centene Corp (NYSE:CNC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 53,365 shares of the company’s stock, valued at approximately $5,383,000.
A number of other large investors have also bought and sold shares of CNC. Epoch Investment Partners Inc. increased its holdings in Centene by 298.0% in the third quarter. Epoch Investment Partners Inc. now owns 997,346 shares of the company’s stock valued at $96,513,000 after buying an additional 746,783 shares during the last quarter. BlackRock Inc. boosted its stake in Centene by 4.6% in the fourth quarter. BlackRock Inc. now owns 13,939,406 shares of the company’s stock valued at $1,406,209,000 after acquiring an additional 616,914 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Centene by 68.2% in the fourth quarter. Acadian Asset Management LLC now owns 1,239,278 shares of the company’s stock valued at $125,021,000 after acquiring an additional 502,329 shares in the last quarter. AGF Investments Inc. acquired a new position in Centene in the fourth quarter valued at $49,577,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Centene by 2,219.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 500,937 shares of the company’s stock valued at $50,535,000 after acquiring an additional 479,337 shares in the last quarter. 90.52% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have issued reports on CNC. Morgan Stanley upped their price objective on shares of Centene from $118.00 to $126.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. ValuEngine upgraded shares of Centene from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Goldman Sachs began coverage on shares of Centene in a research note on Wednesday, January 3rd. They issued a “buy” rating and a $135.00 price objective for the company. Credit Suisse Group upped their price objective on shares of Centene from $110.00 to $112.00 and gave the company a “neutral” rating in a research note on Wednesday, February 7th. Finally, Oppenheimer restated a “buy” rating and issued a $111.00 price objective on shares of Centene in a research note on Friday, December 15th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $110.28.
Shares of Centene stock opened at $101.47 on Friday. Centene Corp has a 12 month low of $65.30 and a 12 month high of $112.42. The firm has a market cap of $17,784.95, a PE ratio of 20.17, a PEG ratio of 0.98 and a beta of 0.76. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.68.
Centene (NYSE:CNC) last announced its earnings results on Tuesday, February 6th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.03. Centene had a net margin of 1.71% and a return on equity of 13.68%. The business had revenue of $12.81 billion during the quarter, compared to the consensus estimate of $12.25 billion. During the same quarter in the prior year, the firm earned $1.19 earnings per share. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. research analysts expect that Centene Corp will post 7.2 EPS for the current fiscal year.
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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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