Centene Corporation (CNC) Shares Bought by Fjarde AP Fonden Fourth Swedish National Pension Fund
Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Centene Corporation (NYSE:CNC) by 16.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,307 shares of the company’s stock after buying an additional 5,734 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Centene Corporation were worth $3,300,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in shares of Centene Corporation by 3,408.1% in the first quarter. BlackRock Inc. now owns 15,510,470 shares of the company’s stock valued at $1,105,275,000 after buying an additional 15,068,340 shares in the last quarter. OppenheimerFunds Inc. raised its stake in shares of Centene Corporation by 271.2% in the first quarter. OppenheimerFunds Inc. now owns 1,799,160 shares of the company’s stock valued at $128,208,000 after buying an additional 1,314,514 shares in the last quarter. Pioneer Investment Management Inc. raised its stake in shares of Centene Corporation by 1,534.7% in the first quarter. Pioneer Investment Management Inc. now owns 1,369,670 shares of the company’s stock valued at $97,603,000 after buying an additional 1,285,885 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Centene Corporation by 108.0% in the first quarter. AQR Capital Management LLC now owns 2,088,867 shares of the company’s stock valued at $148,853,000 after buying an additional 1,084,628 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in shares of Centene Corporation during the first quarter valued at about $55,478,000. Institutional investors own 92.25% of the company’s stock.
Shares of Centene Corporation (NYSE:CNC) opened at 86.43 on Thursday. Centene Corporation has a 12 month low of $50.00 and a 12 month high of $87.94. The firm has a market capitalization of $14.91 billion, a P/E ratio of 18.97 and a beta of 0.66. The stock has a 50 day moving average price of $83.11 and a 200 day moving average price of $75.97.
Centene Corporation (NYSE:CNC) last announced its quarterly earnings data on Tuesday, July 25th. The company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.30 by $0.29. The business had revenue of $11.95 billion for the quarter, compared to analyst estimates of $11.69 billion. Centene Corporation had a net margin of 1.72% and a return on equity of 14.62%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.29 earnings per share. On average, analysts expect that Centene Corporation will post $4.92 earnings per share for the current year.
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Several analysts recently issued reports on CNC shares. Bank of America Corporation increased their price objective on Centene Corporation from $93.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, July 14th. ValuEngine upgraded Centene Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 27th. Zacks Investment Research lowered Centene Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 4th. BidaskClub lowered Centene Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Finally, J P Morgan Chase & Co lowered Centene Corporation from an “overweight” rating to a “neutral” rating and set a $75.00 price objective for the company. in a report on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $86.82.
In other news, Director Robert K. Ditmore sold 3,900 shares of Centene Corporation stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $75.43, for a total value of $294,177.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mark J. Brooks sold 2,161 shares of Centene Corporation stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $75.43, for a total transaction of $163,004.23. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,578 shares of company stock worth $4,264,757. 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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