Seven Bridges Advisors LLC Takes Position in Centene Corporation (NYSE:CNC)
Seven Bridges Advisors LLC purchased a new position in Centene Corporation (NYSE:CNC) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,542 shares of the company’s stock, valued at approximately $123,000.
A number of other large investors have also bought and sold shares of CNC. Macquarie Group Ltd. boosted its position in shares of Centene Corporation by 15.2% in the fourth quarter. Macquarie Group Ltd. now owns 92,969 shares of the company’s stock worth $5,254,000 after buying an additional 12,250 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in Centene Corporation by 3.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 148,296 shares of the company’s stock worth $10,567,000 after buying an additional 5,499 shares in the last quarter. CENTRAL TRUST Co boosted its position in Centene Corporation by 5.0% in the first quarter. CENTRAL TRUST Co now owns 6,342 shares of the company’s stock worth $452,000 after buying an additional 300 shares in the last quarter. Raymond James Trust N.A. boosted its position in Centene Corporation by 3.2% in the first quarter. Raymond James Trust N.A. now owns 4,451 shares of the company’s stock worth $318,000 after buying an additional 139 shares in the last quarter. Finally, Creative Planning boosted its position in Centene Corporation by 5.4% in the first quarter. Creative Planning now owns 2,476 shares of the company’s stock worth $176,000 after buying an additional 127 shares in the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.
Shares of Centene Corporation (NYSE CNC) opened at 82.73 on Thursday. The company has a market cap of $14.27 billion, a PE ratio of 18.15 and a beta of 0.66. Centene Corporation has a 1-year low of $50.00 and a 1-year high of $87.94. The firm has a 50-day moving average price of $82.22 and a 200 day moving average price of $74.31.
Centene Corporation (NYSE:CNC) last announced its quarterly earnings data on Tuesday, July 25th. The company reported $1.59 EPS for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.29. Centene Corporation had a return on equity of 14.62% and a net margin of 1.72%. The firm had revenue of $11.95 billion during the quarter, compared to analysts’ expectations of $11.69 billion. During the same quarter last year, the firm posted $1.29 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities analysts anticipate that Centene Corporation will post $4.92 earnings per share for the current year.
A number of research analysts recently issued reports on the company. Morgan Stanley assumed coverage on Centene Corporation in a report on Tuesday, June 6th. They issued an “overweight” rating and a $86.00 price target for the company. Citigroup Inc. lifted their price target on Centene Corporation from $80.00 to $89.00 and gave the company a “sell” rating in a report on Wednesday, July 26th. Zacks Investment Research cut Centene Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 4th. ValuEngine cut Centene Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. Finally, Stifel Nicolaus lifted their price target on Centene Corporation from $80.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $86.82.
In other Centene Corporation news, SVP Mark J. Brooks sold 2,161 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $75.43, for a total value of $163,004.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert K. Ditmore sold 4,167 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $82.59, for a total value of $344,152.53. The disclosure for this sale can be found here. Insiders sold 53,578 shares of company stock valued at $4,264,757 in the last three months. Insiders own 3.00% of the company’s stock.
Centene Corporation Company Profile
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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