Zurcher Kantonalbank Zurich Cantonalbank Acquires 111,734 Shares of Centene Co. (NYSE:CNC)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Centene Co. (NYSE:CNC) by 19.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 676,274 shares of the company’s stock after acquiring an additional 111,734 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.13% of Centene worth $50,186,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC raised its position in Centene by 84,741.9% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 225,379,868 shares of the company’s stock valued at $18,483,403,000 after acquiring an additional 225,114,221 shares in the last quarter. Invesco Ltd. grew its holdings in Centene by 8.7% during the third quarter. Invesco Ltd. now owns 8,788,485 shares of the company’s stock valued at $605,351,000 after purchasing an additional 704,684 shares during the last quarter. Norges Bank acquired a new position in Centene during the fourth quarter valued at approximately $713,235,000. Morgan Stanley grew its holdings in Centene by 7.3% during the third quarter. Morgan Stanley now owns 6,023,782 shares of the company’s stock valued at $414,918,000 after purchasing an additional 408,525 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Centene by 3.7% during the third quarter. Northern Trust Corp now owns 5,288,229 shares of the company’s stock valued at $364,253,000 after purchasing an additional 187,958 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.

Centene Stock Down 0.6 %

Shares of NYSE:CNC opened at $72.26 on Wednesday. Centene Co. has a 52 week low of $60.83 and a 52 week high of $81.42. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.11 and a current ratio of 1.11. The company’s fifty day moving average is $76.72 and its 200-day moving average is $74.55. The company has a market capitalization of $38.65 billion, a PE ratio of 14.72, a P/E/G ratio of 0.90 and a beta of 0.38.

Centene (NYSE:CNC) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. The business had revenue of $39.46 billion for the quarter, compared to the consensus estimate of $36.16 billion. Centene had a net margin of 1.75% and a return on equity of 14.26%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. Equities research analysts predict that Centene Co. will post 6.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Wells Fargo & Company increased their price target on Centene from $89.00 to $93.00 and gave the company an “overweight” rating in a report on Monday. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 price objective on shares of Centene in a research note on Thursday, April 4th. Stephens restated an “equal weight” rating and issued a $85.00 price objective (down previously from $92.00) on shares of Centene in a research note on Thursday, March 21st. UBS Group raised their price objective on shares of Centene from $72.00 to $79.00 and gave the stock a “neutral” rating in a research note on Thursday, December 21st. Finally, Truist Financial lifted their price target on shares of Centene from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, December 21st. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Centene currently has an average rating of “Moderate Buy” and an average price target of $85.38.

Insider Buying and Selling

In other Centene news, President Kenneth J. Fasola sold 12,000 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $75.07, for a total transaction of $900,840.00. Following the transaction, the president now directly owns 235,365 shares in the company, valued at approximately $17,668,850.55. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Centene news, Director Lori Jean Robinson sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $77.41, for a total transaction of $774,100.00. Following the transaction, the director now directly owns 11,455 shares in the company, valued at approximately $886,731.55. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Kenneth J. Fasola sold 12,000 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $75.07, for a total value of $900,840.00. Following the completion of the sale, the president now directly owns 235,365 shares of the company’s stock, valued at $17,668,850.55. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

About Centene

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children's health insurance program, foster care, medicare-medicaid plans, long-term services and support.