First Allied Advisory Services Inc. Takes Position in Centene Corporation (CNC)

First Allied Advisory Services Inc. bought a new position in Centene Corporation (NYSE:CNC) in the third quarter, according to its most recent filing with the SEC. The firm bought 6,815 shares of the company’s stock, valued at approximately $660,000.

A number of other hedge funds also recently added to or reduced their stakes in CNC. Ameriprise Financial Inc. boosted its stake in Centene by 318.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,504,359 shares of the company’s stock worth $279,882,000 after purchasing an additional 2,667,189 shares in the last quarter. AJO LP acquired a new stake in Centene in the 2nd quarter worth approximately $100,314,000. Vanguard Group Inc. boosted its stake in Centene by 4.9% in the 2nd quarter. Vanguard Group Inc. now owns 16,726,500 shares of the company’s stock worth $1,336,113,000 after purchasing an additional 774,474 shares in the last quarter. Epoch Investment Partners Inc. boosted its stake in Centene by 298.0% in the 3rd quarter. Epoch Investment Partners Inc. now owns 997,346 shares of the company’s stock worth $96,513,000 after purchasing an additional 746,783 shares in the last quarter. Finally, Numeric Investors LLC boosted its stake in Centene by 270.1% in the 2nd quarter. Numeric Investors LLC now owns 1,001,500 shares of the company’s stock worth $80,000,000 after purchasing an additional 730,900 shares in the last quarter. Institutional investors own 92.33% of the company’s stock.

Centene Corporation (CNC) opened at $100.86 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.71. Centene Corporation has a 12 month low of $54.40 and a 12 month high of $103.15. The stock has a market cap of $17,204.88, a price-to-earnings ratio of 18.99, a P/E/G ratio of 1.52 and a beta of 0.71.

Centene (NYSE:CNC) last posted its earnings results on Tuesday, October 24th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.11. Centene had a net margin of 1.81% and a return on equity of 14.79%. The firm had revenue of $11.90 billion during the quarter, compared to analysts’ expectations of $11.75 billion. During the same period in the previous year, the business posted $1.12 EPS. The business’s revenue was up 9.7% compared to the same quarter last year. research analysts anticipate that Centene Corporation will post 4.98 earnings per share for the current year.

In related news, Director Robert K. Ditmore sold 4,167 shares of the business’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $90.42, for a total value of $376,780.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.00% of the company’s stock.

Several analysts have commented on the stock. Leerink Swann restated a “market perform” rating and set a $90.00 price objective (up from $78.00) on shares of Centene in a research note on Wednesday, September 13th. Cowen restated an “outperform” rating and set a $105.00 price objective (up from $77.00) on shares of Centene in a research note on Wednesday, September 13th. BidaskClub upgraded shares of Centene from a “hold” rating to a “buy” rating in a research note on Thursday, August 24th. Oppenheimer restated a “buy” rating and set a $105.00 price objective on shares of Centene in a research note on Tuesday, October 24th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $105.00 price objective on shares of Centene in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $99.11.

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Centene 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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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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