Neuberger Berman Group LLC trimmed its position in shares of Centene Corporation (NYSE:CNC) by 1.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 180,108 shares of the company’s stock after selling 2,506 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.10% of Centene worth $17,429,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CNC. CFO4Life Group LLC raised its position in shares of Centene by 0.4% during the second quarter. CFO4Life Group LLC now owns 6,598 shares of the company’s stock worth $527,000 after acquiring an additional 25 shares during the last quarter. MML Investors Services LLC raised its position in shares of Centene by 1.0% during the second quarter. MML Investors Services LLC now owns 3,587 shares of the company’s stock worth $287,000 after acquiring an additional 34 shares during the last quarter. Keybank National Association OH raised its position in shares of Centene by 1.1% during the second quarter. Keybank National Association OH now owns 3,180 shares of the company’s stock worth $254,000 after acquiring an additional 36 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Centene 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 worth $1,022,000 after acquiring an additional 38 shares during the last quarter. Finally, Modera Wealth Management LLC raised its position in shares of Centene by 1.0% during the second quarter. Modera Wealth Management LLC now owns 5,086 shares of the company’s stock worth $406,000 after acquiring an additional 51 shares during the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Centene Corporation (NYSE:CNC) opened at $102.16 on Monday. The company has a market capitalization of $17,630.00, a P/E ratio of 21.11, a PEG ratio of 1.47 and a beta of 0.71. Centene Corporation has a 1-year low of $55.89 and a 1-year high of $104.65. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.71.

Centene (NYSE:CNC) last announced its earnings results on Tuesday, October 24th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.11. The company had revenue of $11.90 billion for the quarter, compared to analysts’ expectations of $11.75 billion. Centene had a return on equity of 14.79% and a net margin of 1.81%. Centene’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.12 earnings per share. sell-side analysts expect that Centene Corporation will post 4.99 EPS for the current year.

In other Centene news, EVP Jesse N. Hunter sold 10,000 shares of the business’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $98.73, for a total value of $987,300.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert K. Ditmore sold 4,167 shares of the business’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $90.42, for a total value of $376,780.14. The disclosure for this sale can be found here. 3.00% of the stock is owned by insiders.

A number of equities research analysts have weighed in on the company. Zacks Investment Research downgraded Centene from a “strong-buy” rating to a “hold” rating in a report on Friday. Oppenheimer lifted their target price on Centene from $111.00 to $122.00 and gave the stock an “outperform” rating in a report on Wednesday, December 20th. Deutsche Bank reiterated a “buy” rating and issued a $111.00 target price (up from $95.00) on shares of Centene in a report on Thursday, September 14th. Cantor Fitzgerald reiterated a “buy” rating and issued a $107.00 target price on shares of Centene in a report on Tuesday, October 24th. Finally, Cowen reiterated a “buy” rating and issued a $115.00 target price on shares of Centene in a report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $101.94.

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Centene Company 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.

Institutional Ownership by Quarter for Centene (NYSE:CNC)

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