Montag & Caldwell LLC purchased a new stake in Centene Corp (NYSE:CNC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,758 shares of the company’s stock, valued at approximately $407,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of CNC. Deltec Asset Management LLC bought a new stake in Centene during the first quarter valued at $12,458,000. Osborne Partners Capital Management LLC increased its stake in Centene by 95.8% during the first quarter. Osborne Partners Capital Management LLC now owns 194,180 shares of the company’s stock valued at $10,311,000 after purchasing an additional 95,025 shares during the last quarter. Burney Co. increased its stake in Centene by 554.3% during the first quarter. Burney Co. now owns 64,045 shares of the company’s stock valued at $3,401,000 after purchasing an additional 54,256 shares during the last quarter. Texas Permanent School Fund increased its stake in Centene by 94.6% during the first quarter. Texas Permanent School Fund now owns 80,380 shares of the company’s stock valued at $4,268,000 after purchasing an additional 39,076 shares during the last quarter. Finally, Artemis Investment Management LLP increased its stake in Centene by 173.0% during the second quarter. Artemis Investment Management LLP now owns 463,362 shares of the company’s stock valued at $24,237,000 after purchasing an additional 293,654 shares during the last quarter. 89.86% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Jessica L. Blume acquired 2,850 shares of Centene stock in a transaction that occurred on Friday, July 26th. The stock was acquired at an average price of $52.99 per share, with a total value of $151,021.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.50% of the company’s stock.

CNC stock traded up $0.20 during trading on Thursday, hitting $47.98. The company had a trading volume of 228,818 shares, compared to its average volume of 4,911,111. The company has a market capitalization of $19.84 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 0.77 and a beta of 0.83. The firm has a 50 day moving average price of $51.77. Centene Corp has a fifty-two week low of $45.44 and a fifty-two week high of $74.49. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.58.

Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.10. The business had revenue of $18.36 billion during the quarter, compared to the consensus estimate of $18.02 billion. Centene had a net margin of 1.84% and a return on equity of 15.87%. The company’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.90 earnings per share. As a group, equities analysts predict that Centene Corp will post 4.41 EPS for the current fiscal year.

Several equities analysts have recently commented on CNC shares. Citigroup upgraded shares of Centene from a “neutral” rating to a “buy” rating and set a $69.00 price target for the company in a research report on Friday, May 10th. Cantor Fitzgerald restated a “buy” rating and set a $83.00 price target on shares of Centene in a research report on Sunday, April 21st. ValuEngine lowered shares of Centene from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. SunTrust Banks lowered their price target on shares of Centene to $80.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. Finally, Zacks Investment Research lowered shares of Centene from a “buy” rating to a “hold” rating and set a $59.00 price target for the company. in a research report on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $75.26.

About Centene

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. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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