Centene Corporation (CNC) Shares Sold by Homrich & Berg
Homrich & Berg decreased its stake in Centene Corporation (NYSE:CNC) by 2.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 33,990 shares of the company’s stock after selling 1,000 shares during the period. Homrich & Berg’s holdings in Centene Corporation were worth $2,715,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BNP Paribas Arbitrage SA increased its position in shares of Centene Corporation by 213.5% in the first quarter. BNP Paribas Arbitrage SA now owns 685,347 shares of the company’s stock valued at $48,838,000 after buying an additional 466,768 shares during the period. State of Alaska Department of Revenue purchased a new stake in shares of Centene Corporation during the first quarter worth approximately $409,000. CAPROCK Group Inc. purchased a new stake in shares of Centene Corporation during the second quarter worth approximately $230,000. Tyers Asset Management LLC boosted its stake in shares of Centene Corporation by 434.4% in the first quarter. Tyers Asset Management LLC now owns 23,856 shares of the company’s stock worth $1,700,000 after buying an additional 19,392 shares in the last quarter. Finally, Xact Kapitalforvaltning AB boosted its stake in shares of Centene Corporation by 4.2% in the first quarter. Xact Kapitalforvaltning AB now owns 30,398 shares of the company’s stock worth $2,166,000 after buying an additional 1,212 shares in the last quarter. Hedge funds and other institutional investors own 92.25% of the company’s stock.
Centene Corporation (NYSE:CNC) traded down 0.06% during trading on Tuesday, reaching $86.29. The company had a trading volume of 50,412 shares. The stock has a market capitalization of $14.88 billion, a price-to-earnings ratio of 18.94 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 of $83.11 and a 200-day moving average of $75.97.
Centene Corporation (NYSE:CNC) last posted its quarterly earnings data on Tuesday, July 25th. The company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.29. The business had revenue of $11.95 billion during the quarter, compared to analysts’ expectations of $11.69 billion. Centene Corporation had a net margin of 1.72% and a return on equity of 14.62%. The business’s revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm posted $1.29 earnings per share. On average, analysts anticipate that Centene Corporation will post $4.92 EPS for the current fiscal year.
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A number of brokerages have commented on CNC. Morgan Stanley began coverage on Centene Corporation in a research report on Tuesday, June 6th. They set 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 stock a “sell” rating in a research report on Wednesday, July 26th. ValuEngine cut Centene Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $90.00 price target on shares of Centene Corporation in a research report on Tuesday, July 25th. Finally, UBS AG reaffirmed a “buy” rating and set a $95.00 price target (up previously from $88.00) on shares of Centene Corporation in a research report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $86.82.
In other news, SVP Mark J. Brooks sold 2,161 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $75.43, for a total value of $163,004.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christopher D. Bowers sold 4,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $79.43, for a total transaction of $317,720.00. The disclosure for this sale can be found here. Insiders sold 53,578 shares of company stock valued at $4,264,757 over the last quarter. Insiders own 3.00% of the company’s stock.
About Centene Corporation
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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