Centene Corporation (CNC) Shares Bought by Principal Financial Group Inc.
Principal Financial Group Inc. lifted its holdings in shares of Centene Corporation (NYSE:CNC) by 73.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 492,498 shares of the company’s stock after acquiring an additional 208,608 shares during the quarter. Principal Financial Group Inc. owned about 0.29% of Centene Corporation worth $47,659,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Centene Corporation by 4.9% during the 2nd quarter. Vanguard Group Inc. now owns 16,726,500 shares of the company’s stock valued at $1,336,113,000 after acquiring an additional 774,474 shares in the last quarter. State Street Corp lifted its holdings in shares of Centene Corporation by 0.5% during the 2nd quarter. State Street Corp now owns 7,154,348 shares of the company’s stock valued at $571,504,000 after acquiring an additional 35,040 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Centene Corporation by 12.4% during the 2nd quarter. Wells Fargo & Company MN now owns 4,193,466 shares of the company’s stock valued at $334,973,000 after acquiring an additional 462,936 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Centene Corporation by 318.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,504,359 shares of the company’s stock valued at $279,882,000 after acquiring an additional 2,667,189 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Centene Corporation by 13.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,249,254 shares of the company’s stock valued at $179,673,000 after acquiring an additional 259,662 shares in the last quarter. Institutional investors and hedge funds own 93.43% of the company’s stock.
Several equities analysts recently weighed in on CNC shares. Cantor Fitzgerald restated a “buy” rating and set a $90.00 target price on shares of Centene Corporation in a report on Tuesday, July 25th. Morgan Stanley restated an “overweight” rating and set a $94.00 target price (up previously from $86.00) on shares of Centene Corporation in a report on Wednesday, July 26th. 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 note on Wednesday, July 26th. Citigroup Inc. lifted their price target on shares of Centene Corporation from $80.00 to $89.00 and gave the stock a “sell” rating in a research note on Wednesday, July 26th. Finally, ValuEngine raised shares of Centene Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $99.11.
Centene Corporation (CNC) opened at $92.15 on Thursday. Centene Corporation has a fifty-two week low of $54.40 and a fifty-two week high of $98.71. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $16,053.86, a PE ratio of 17.72, a PEG ratio of 1.42 and a beta of 0.67.
Centene Corporation (NYSE:CNC) last posted its quarterly earnings results on Tuesday, October 24th. The company reported $1.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.11. Centene Corporation had a net margin of 1.81% and a return on equity of 14.79%. The business had revenue of $11.90 billion during the quarter, compared to analyst estimates of $11.75 billion. During the same period in the previous year, the business posted $1.12 EPS. The company’s quarterly revenue was up 9.7% on a year-over-year basis. analysts anticipate that Centene Corporation will post 4.98 earnings per share for the current fiscal year.
In other news, Director Robert K. Ditmore sold 4,167 shares of Centene Corporation stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $90.42, for a total value of $376,780.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.00% of the company’s stock.
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Centene Corporation 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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