Centene Corp (CNC) Shares Sold by Commerzbank Aktiengesellschaft FI

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Commerzbank Aktiengesellschaft FI decreased its holdings in Centene Corp (NYSE:CNC) by 31.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,524 shares of the company’s stock after selling 3,855 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Centene were worth $1,050,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. boosted its stake in shares of Centene by 15.5% during the second quarter. BlackRock Inc. now owns 15,847,653 shares of the company’s stock valued at $1,952,589,000 after purchasing an additional 2,122,661 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Centene by 5.2% during the second quarter. Wells Fargo & Company MN now owns 3,309,046 shares of the company’s stock valued at $407,707,000 after purchasing an additional 162,597 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Centene by 1.0% during the first quarter. JPMorgan Chase & Co. now owns 2,725,000 shares of the company’s stock valued at $291,222,000 after purchasing an additional 26,402 shares during the period. Jennison Associates LLC boosted its stake in shares of Centene by 47.6% during the second quarter. Jennison Associates LLC now owns 2,113,026 shares of the company’s stock valued at $260,346,000 after purchasing an additional 681,847 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Centene by 0.8% during the first quarter. Northern Trust Corp now owns 1,994,281 shares of the company’s stock valued at $213,129,000 after purchasing an additional 16,383 shares during the period. 90.07% of the stock is currently owned by institutional investors.

In related news, EVP Brandy Burkhalter sold 3,000 shares of the stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $131.90, for a total value of $395,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert K. Ditmore sold 8,750 shares of the stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $131.44, for a total value of $1,150,100.00. Following the completion of the transaction, the director now directly owns 472,241 shares of the company’s stock, valued at $62,071,357.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,550 shares of company stock valued at $4,274,790. 3.00% of the stock is owned by corporate insiders.

A number of analysts recently weighed in on CNC shares. Wells Fargo & Co upped their price objective on shares of Centene from $126.00 to $142.00 and gave the stock an “outperform” rating in a research note on Monday, June 18th. Cantor Fitzgerald upped their price objective on shares of Centene to $137.00 and gave the stock an “overweight” rating in a research note on Monday, June 18th. Leerink Swann boosted their target price on shares of Centene from $120.00 to $130.00 and gave the stock a “market perform” rating in a report on Monday, June 18th. BMO Capital Markets boosted their target price on shares of Centene to $150.00 and gave the stock an “outperform” rating in a report on Monday, June 18th. Finally, Credit Suisse Group boosted their target price on shares of Centene from $112.00 to $125.00 and gave the stock a “neutral” rating in a report on Monday, June 18th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $144.38.

Centene stock traded up $0.31 during mid-day trading on Friday, hitting $145.24. The company had a trading volume of 1,240,847 shares, compared to its average volume of 984,616. The company has a current ratio of 1.25, a quick ratio of 1.26 and a debt-to-equity ratio of 0.59. Centene Corp has a 12-month low of $83.56 and a 12-month high of $148.24. The firm has a market cap of $29.61 billion, a PE ratio of 22.94, a P/E/G ratio of 1.39 and a beta of 0.85.

Centene (NYSE:CNC) last announced its earnings results on Tuesday, July 24th. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.03. Centene had a return on equity of 14.57% and a net margin of 2.06%. The firm had revenue of $14.18 billion for the quarter, compared to analyst estimates of $13.82 billion. During the same quarter last year, the firm posted $1.59 EPS. The business’s revenue was up 18.6% on a year-over-year basis. equities research analysts forecast that Centene Corp will post 7.08 EPS for the current year.

Centene Company Profile

Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. It operates through two segments, Managed Care and Specialty Services. The Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term care, foster care, and dual eligible individual, as well as aged, blind, or disabled programs.

Further Reading: How to calculate the intrinsic value of a stock

Institutional Ownership by Quarter for Centene (NYSE:CNC)

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