Centene Corporation $CNC Stock Holdings Increased by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. increased its holdings in Centene Corporation (NYSE:CNC) by 13.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,654 shares of the company’s stock after acquiring an additional 10,622 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Centene were worth $5,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Provenance Wealth Advisors LLC increased its position in Centene by 14,116.7% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 2,559 shares of the company’s stock valued at $159,000 after buying an additional 2,541 shares in the last quarter. Integrity Alliance LLC. purchased a new stake in shares of Centene in the third quarter worth $1,270,000. Oregon Public Employees Retirement Fund grew its stake in shares of Centene by 5.2% in the third quarter. Oregon Public Employees Retirement Fund now owns 60,676 shares of the company’s stock worth $3,769,000 after acquiring an additional 3,010 shares during the last quarter. ARGA Investment Management LP increased its holdings in shares of Centene by 10.4% during the third quarter. ARGA Investment Management LP now owns 369,570 shares of the company’s stock valued at $22,958,000 after acquiring an additional 34,673 shares in the last quarter. Finally, Trek Financial LLC bought a new position in Centene in the 3rd quarter worth about $961,000. 93.63% of the stock is owned by hedge funds and other institutional investors.

Centene Price Performance

Shares of NYSE CNC traded down $4.48 during mid-day trading on Friday, reaching $69.69. The company’s stock had a trading volume of 5,807,334 shares, compared to its average volume of 4,824,360. The firm has a market capitalization of $34.50 billion, a PE ratio of 23.87, a P/E/G ratio of 0.39 and a beta of 1.07. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.16 and a quick ratio of 1.16. Centene Corporation has a 52 week low of $31.63 and a 52 week high of $78.08. The stock has a fifty day moving average of $66.64 and a two-hundred day moving average of $55.88.

Centene (NYSE:CNC) last released its quarterly earnings data on Tuesday, October 27th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.48. Centene had a return on equity of 12.15% and a net margin of 0.72%. The business had revenue of $50.65 billion for the quarter, compared to the consensus estimate of $47.12 billion. During the same quarter in the previous year, the company posted $0.50 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Centene Corporation will post 5.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CNC shares. Weiss Ratings upgraded shares of Centene from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 28th. Wells Fargo & Company increased their price target on shares of Centene from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, October 30th. Zacks Research lowered shares of Centene from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Stifel Nicolaus set a $79.00 price objective on Centene in a research report on Monday, August 3rd. Finally, Raymond James Financial set a $79.00 target price on Centene in a research note on Wednesday, October 28th. Nine analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Centene currently has a consensus rating of “Hold” and an average target price of $73.80.

Insider Activity at Centene

In other news, General Counsel Christopher Koster sold 56,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $66.90, for a total transaction of $3,779,850.00. Following the transaction, the general counsel owned 248,854 shares of the company’s stock, valued at approximately $16,648,332.60. The trade was a 18.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.37% of the company’s stock.

About Centene

Centene Corporation is a U.S. health care company that provides managed care and related services, primarily for people enrolled in government-sponsored health programs. Its offerings include Medicaid and Medicare plans, as well as health insurance sold through the Affordable Care Act marketplace.

Centene serves members through health plans and a network of health care providers. Its businesses include Ambetter, which offers marketplace health plans, and Wellcare, which provides Medicare-related coverage.