Koch Industries Inc. Invests $241,000 in Centene Corporation (CNC)
Koch Industries Inc. bought a new stake in shares of Centene Corporation (NYSE:CNC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 243,530 shares of the company’s stock, valued at approximately $241,000. Koch Industries Inc. owned about 0.14% of Centene Corporation at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. CFO4Life Group LLC grew its holdings in shares of Centene Corporation by 0.4% during the second quarter. CFO4Life Group LLC now owns 6,598 shares of the company’s stock valued at $527,000 after purchasing an additional 25 shares during the last quarter. MML Investors Services LLC grew its holdings in shares of Centene Corporation by 1.0% during the second quarter. MML Investors Services LLC now owns 3,587 shares of the company’s stock valued at $287,000 after purchasing an additional 34 shares during the last quarter. Keybank National Association OH grew its holdings in shares of Centene Corporation by 1.1% during the second quarter. Keybank National Association OH now owns 3,180 shares of the company’s stock valued at $254,000 after purchasing an additional 36 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Centene Corporation by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,799 shares of the company’s stock valued at $1,022,000 after purchasing an additional 38 shares during the last quarter. Finally, Somerset Trust Co grew its holdings in shares of Centene Corporation by 0.5% during the second quarter. Somerset Trust Co now owns 8,102 shares of the company’s stock valued at $647,000 after purchasing an additional 40 shares during the last quarter. 92.10% of the stock is owned by institutional investors.
CNC has been the subject of several recent research reports. BidaskClub raised Centene Corporation from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 24th. Zacks Investment Research lowered Centene Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Centene Corporation in a report on Tuesday, July 11th. Deutsche Bank AG upped their target price on Centene Corporation from $84.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, July 13th. Finally, Bank of America Corporation upped their target price on Centene Corporation from $93.00 to $95.00 and gave the company a “buy” rating in a report on Friday, July 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $95.58.
In other news, Director Robert K. Ditmore sold 4,167 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $82.59, for a total transaction of $344,152.53. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Christopher D. Bowers sold 4,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $79.43, for a total transaction of $317,720.00. The disclosure for this sale can be found here. 3.00% of the stock is owned by corporate insiders.
Shares of Centene Corporation (NYSE CNC) opened at 94.70 on Friday. Centene Corporation has a 52-week low of $50.00 and a 52-week high of $98.71. The firm has a 50-day moving average price of $93.27 and a 200-day moving average price of $82.23. The firm has a market capitalization of $16.33 billion, a P/E ratio of 20.78 and a beta of 0.68.
Centene Corporation (NYSE:CNC) last released its quarterly earnings results on Tuesday, July 25th. The company reported $1.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.29. Centene Corporation had a net margin of 1.72% and a return on equity of 14.62%. The business had revenue of $11.95 billion for the quarter, compared to analysts’ expectations of $11.69 billion. During the same period in the prior year, the firm earned $1.29 earnings per share. Centene Corporation’s revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts anticipate that Centene Corporation will post $4.92 EPS for the current year.
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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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