ClariVest Asset Management LLC lifted its position in Centene Corp (NYSE:CNC) by 12.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 259,096 shares of the company’s stock after purchasing an additional 29,437 shares during the period. ClariVest Asset Management LLC’s holdings in Centene were worth $29,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in CNC. Capital International Investors purchased a new position in shares of Centene in the 3rd quarter worth $1,012,845,000. FMR LLC boosted its stake in shares of Centene by 203.4% in the 3rd quarter. FMR LLC now owns 2,419,139 shares of the company’s stock worth $350,243,000 after buying an additional 1,621,757 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Centene by 6.1% in the 3rd quarter. BlackRock Inc. now owns 16,818,075 shares of the company’s stock worth $2,434,920,000 after buying an additional 970,422 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Centene by 257.9% in the 3rd quarter. Franklin Resources Inc. now owns 809,979 shares of the company’s stock worth $117,259,000 after buying an additional 583,679 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in shares of Centene by 188.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 773,109 shares of the company’s stock worth $111,931,000 after buying an additional 505,109 shares during the last quarter. Hedge funds and other institutional investors own 93.34% of the company’s stock.

NYSE:CNC opened at $62.90 on Monday. The company has a current ratio of 1.00, a quick ratio of 1.03 and a debt-to-equity ratio of 0.60. The stock has a market cap of $25.83 billion, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 1.11 and a beta of 1.32. Centene Corp has a 52 week low of $48.81 and a 52 week high of $74.49.

Centene (NYSE:CNC) last posted its quarterly earnings results on Tuesday, February 5th. The company reported $1.38 EPS for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.05. The business had revenue of $16.56 billion for the quarter, compared to analysts’ expectations of $16.38 billion. Centene had a return on equity of 14.10% and a net margin of 1.50%. The business’s quarterly revenue was up 29.3% on a year-over-year basis. During the same period last year, the firm earned $0.49 earnings per share. As a group, analysts predict that Centene Corp will post 4.23 earnings per share for the current fiscal year.

A number of equities analysts have recently issued reports on CNC shares. Goldman Sachs Group downgraded Centene from a “conviction-buy” rating to a “buy” rating in a research note on Monday, December 17th. Cantor Fitzgerald reiterated a “buy” rating and set a $72.50 target price on shares of Centene in a research report on Thursday, December 13th. Zacks Investment Research upgraded Centene from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research report on Monday, December 31st. Jefferies Financial Group reiterated a “buy” rating and set a $76.00 target price on shares of Centene in a research report on Thursday. Finally, ValuEngine downgraded Centene from a “buy” rating to a “hold” rating in a research report on Monday, December 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Centene has a consensus rating of “Buy” and an average price target of $77.65.

In other Centene news, CFO Jeffrey A. Schwaneke sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, January 15th. The stock was sold at an average price of $125.00, for a total transaction of $500,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark J. Brooks sold 2,540 shares of the firm’s stock in a transaction dated Tuesday, December 18th. The shares were sold at an average price of $121.26, for a total value of $308,000.40. The disclosure for this sale can be found here. 2.40% of the stock is owned by company insiders.

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Centene 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.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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