Rockefeller Capital Management L.P. Boosts Position in Centene Co. (NYSE:CNC)

Rockefeller Capital Management L.P. grew its holdings in shares of Centene Co. (NYSE:CNC) by 41.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 15,130 shares of the company’s stock after acquiring an additional 4,409 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Centene were worth $1,102,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. DCM Advisors LLC purchased a new position in shares of Centene during the second quarter valued at approximately $1,120,000. Rafferty Asset Management LLC increased its stake in shares of Centene by 6.1% during the second quarter. Rafferty Asset Management LLC now owns 12,062 shares of the company’s stock valued at $880,000 after buying an additional 695 shares during the period. Sivik Global Healthcare LLC boosted its position in shares of Centene by 12.0% during the second quarter. Sivik Global Healthcare LLC now owns 140,000 shares of the company’s stock valued at $10,210,000 after purchasing an additional 15,000 shares in the last quarter. Credit Agricole S A bought a new stake in shares of Centene during the second quarter valued at approximately $7,519,000. Finally, Centaurus Financial Inc. boosted its position in shares of Centene by 29.8% during the second quarter. Centaurus Financial Inc. now owns 2,721 shares of the company’s stock valued at $198,000 after purchasing an additional 625 shares in the last quarter. 91.75% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Orlando Ayala sold 9,366 shares of the company’s stock in a transaction dated Thursday, July 29th. The stock was sold at an average price of $70.00, for a total value of $655,620.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brent D. Layton sold 4,000 shares of the stock in a transaction that occurred on Thursday, July 29th. The shares were sold at an average price of $70.00, for a total value of $280,000.00. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

CNC has been the topic of several research reports. BMO Capital Markets lifted their price target on Centene from $88.00 to $93.00 and gave the company an “outperform” rating in a research report on Thursday, June 17th. They noted that the move was a valuation call. Seaport Global Securities began coverage on Centene in a research report on Friday, July 9th. They set a “buy” rating and a $90.00 price target on the stock. TheStreet downgraded Centene from a “b-” rating to a “c+” rating in a report on Monday, August 16th. boosted their target price on Centene from $80.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, June 17th. Finally, Oppenheimer reissued a “buy” rating and issued a $90.00 target price on shares of Centene in a report on Thursday, June 17th. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $81.89.

Centene stock opened at $64.35 on Tuesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a fifty day moving average of $66.40 and a 200 day moving average of $67.37. The stock has a market cap of $37.52 billion, a PE ratio of 52.75, a price-to-earnings-growth ratio of 1.01 and a beta of 0.46. Centene Co. has a one year low of $53.60 and a one year high of $75.59.

Centene (NYSE:CNC) last issued its quarterly earnings results on Monday, July 26th. The company reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.16). The company had revenue of $31.03 billion during the quarter, compared to analysts’ expectations of $30.11 billion. Centene had a return on equity of 10.39% and a net margin of 0.61%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.40 EPS. As a group, sell-side analysts predict that Centene Co. will post 5.14 EPS for the current fiscal year.

Centene Company Profile

Centene Corp. operates as a healthcare enterprise, which engages in the provision of programs and services to government sponsored healthcare programs. It operates through the following segments: Managed Care and Specialty Services. The Medicaid Managed Care segment provides health plan coverage to individuals through government subsidized programs through Medicaid.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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