BB&T Corp cut its stake in Centene Corp. (NYSE:CNC) by 10.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 230,279 shares of the company’s stock after selling 26,566 shares during the period. BB&T Corp owned approximately 0.13% of Centene Corp. worth $16,434,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in CNC. State Street Corp raised its stake in Centene Corp. by 82.3% in the first quarter. State Street Corp now owns 7,158,347 shares of the company’s stock valued at $440,733,000 after buying an additional 3,230,862 shares in the last quarter. Geode Capital Management LLC raised its stake in Centene Corp. by 85.7% in the first quarter. Geode Capital Management LLC now owns 1,533,857 shares of the company’s stock valued at $94,279,000 after buying an additional 708,081 shares in the last quarter. Bridger Management LLC purchased a new stake in Centene Corp. during the first quarter valued at about $37,593,000. Samlyn Capital LLC purchased a new stake in Centene Corp. during the first quarter valued at about $35,212,000. Finally, 1832 Asset Management L.P. purchased a new stake in Centene Corp. during the first quarter valued at about $58,738,000. 92.90% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Centene Corp. (NYSE:CNC)

Centene Corp. (NYSE:CNC) traded up 1.1453% during mid-day trading on Wednesday, reaching $62.1133. The company’s stock had a trading volume of 395,700 shares. The stock has a market cap of $10.60 billion, a price-to-earnings ratio of 23.9727 and a beta of 0.94. The firm’s 50 day moving average price is $65.57 and its 200 day moving average price is $65.78. Centene Corp. has a 12-month low of $47.36 and a 12-month high of $75.57.

Centene Corp. (NYSE:CNC) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $1.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.20. Centene Corp. had a return on equity of 14.27% and a net margin of 1.19%. The firm earned $10.90 billion during the quarter, compared to analysts’ expectations of $10.80 billion. During the same period in the previous year, the business earned $0.72 earnings per share. The firm’s revenue for the quarter was up 97.9% on a year-over-year basis. On average, equities analysts predict that Centene Corp. will post $4.37 earnings per share for the current year.

A number of equities research analysts have issued reports on the stock. Leerink Swann lowered shares of Centene Corp. from an “outperform” rating to a “market perform” rating and set a $80.00 price objective for the company. in a report on Tuesday, September 6th. Morgan Stanley raised shares of Centene Corp. from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $84.00 to $86.00 in a report on Wednesday, June 29th. Jefferies Group reaffirmed a “buy” rating and set a $82.00 price objective on shares of Centene Corp. in a report on Sunday. Vetr lowered shares of Centene Corp. from a “strong-buy” rating to a “buy” rating and set a $81.00 price objective for the company. in a report on Tuesday, July 12th. Finally, FBR & Co reaffirmed a “buy” rating on shares of Centene Corp. in a report on Thursday, September 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $80.76.

In other Centene Corp. news, VP Carol Goldman sold 10,000 shares of the business’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $66.36, for a total transaction of $663,600.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kenneth Rone Baldwin sold 6,000 shares of the business’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $66.58, for a total value of $399,480.00. The disclosure for this sale can be found here. Corporate insiders own 4.50% of the company’s stock.

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.

5 Day Chart for NYSE:CNC

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