Victory Capital Management Inc. Increases Stake in Centene Corp (CNC)

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Victory Capital Management Inc. lifted its position in Centene Corp (NYSE:CNC) by 1.3% in the 1st quarter, HoldingsChannel reports. The fund owned 606,514 shares of the company’s stock after acquiring an additional 7,902 shares during the quarter. Victory Capital Management Inc.’s holdings in Centene were worth $32,206,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Centene by 7.8% in the 4th quarter. BlackRock Inc. now owns 18,126,716 shares of the company’s stock worth $2,090,011,000 after purchasing an additional 1,308,641 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Centene by 15,334.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,787,010 shares of the company’s stock worth $85,000 after purchasing an additional 9,723,601 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Centene by 114.3% in the 1st quarter. Janus Henderson Group PLC now owns 4,657,134 shares of the company’s stock worth $247,296,000 after purchasing an additional 2,484,279 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Centene by 6.5% in the 4th quarter. Geode Capital Management LLC now owns 2,883,859 shares of the company’s stock worth $331,969,000 after purchasing an additional 176,124 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of Centene by 2.0% in the 4th quarter. FMR LLC now owns 2,467,656 shares of the company’s stock worth $284,522,000 after purchasing an additional 48,517 shares in the last quarter. 49.14% of the stock is owned by hedge funds and other institutional investors.

CNC has been the subject of a number of research analyst reports. Cowen initiated coverage on Centene in a report on Thursday, February 28th. They issued an “outperform” rating and a $77.00 target price for the company. Morgan Stanley reduced their target price on Centene from $83.00 to $75.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Oppenheimer reduced their target price on Centene from $165.00 to $83.00 and set an “outperform” rating for the company in a report on Wednesday, February 6th. ValuEngine lowered Centene from a “hold” rating to a “sell” rating in a report on Friday, February 8th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $76.00 target price on shares of Centene in a report on Thursday, February 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $75.80.

NYSE CNC traded up $0.08 on Friday, hitting $55.65. 176,240 shares of the company traded hands, compared to its average volume of 11,068,574. The company has a market capitalization of $22.89 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 0.92 and a beta of 1.21. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. Centene Corp has a 52-week low of $45.44 and a 52-week high of $74.49.

Centene (NYSE:CNC) last released its earnings results on Tuesday, April 23rd. The company reported $1.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.07. The company had revenue of $18.44 billion for the quarter, compared to the consensus estimate of $17.44 billion. Centene had a return on equity of 14.60% and a net margin of 1.66%. Centene’s quarterly revenue was up 39.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.17 earnings per share. On average, sell-side analysts forecast that Centene Corp will post 4.36 EPS for the current year.

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Centene Profile

Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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