DekaBank Deutsche Girozentrale Has $6.64 Million Stake in Centene Co. (CNC)

DekaBank Deutsche Girozentrale grew its stake in shares of Centene Co. (NYSE:CNC) by 66.1% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 64,675 shares of the company’s stock after acquiring an additional 25,737 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Centene were worth $6,635,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. DnB Asset Management AS increased its holdings in Centene by 20.4% in the 4th quarter. DnB Asset Management AS now owns 17,100 shares of the company’s stock worth $1,725,000 after purchasing an additional 2,900 shares in the last quarter. Convergence Investment Partners LLC increased its stake in shares of Centene by 412.5% in the fourth quarter. Convergence Investment Partners LLC now owns 28,211 shares of the company’s stock valued at $2,846,000 after buying an additional 22,706 shares during the period. Creative Planning increased its stake in shares of Centene by 128.9% in the fourth quarter. Creative Planning now owns 6,115 shares of the company’s stock valued at $617,000 after buying an additional 3,444 shares during the period. Spirit of America Management Corp NY acquired a new stake in shares of Centene in the fourth quarter valued at about $383,000. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Centene by 5.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 708,434 shares of the company’s stock valued at $71,467,000 after buying an additional 38,185 shares during the period. Hedge funds and other institutional investors own 77.63% of the company’s stock.

In related news, EVP Keith H. Williamson sold 1,000 shares of the business’s stock in a transaction dated Friday, April 27th. The stock was sold at an average price of $110.00, for a total transaction of $110,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Christopher D. Bowers sold 4,800 shares of the business’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $102.27, for a total value of $490,896.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 265,550 shares of company stock worth $28,712,209. Company insiders own 3.00% of the company’s stock.

Several equities research analysts recently commented on CNC shares. Morgan Stanley upped their target price on Centene from $126.00 to $127.00 and gave the company an “overweight” rating in a research report on Wednesday, April 25th. BMO Capital Markets reiterated a “buy” rating on shares of Centene in a report on Monday, March 26th. Credit Suisse Group increased their price target on Centene from $110.00 to $112.00 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. Cantor Fitzgerald increased their price target on Centene from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Finally, Leerink Swann restated a “market perform” rating and issued a $90.00 target price (down previously from $100.00) on shares of Centene in a report on Tuesday, February 13th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $113.63.

NYSE:CNC opened at $114.57 on Friday. The firm has a market cap of $23.20 billion, a P/E ratio of 22.78, a price-to-earnings-growth ratio of 1.09 and a beta of 0.75. Centene Co. has a 52-week low of $112.34 and a 52-week high of $113.36. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.01 and a quick ratio of 1.01.

Centene (NYSE:CNC) last issued its quarterly earnings results on Tuesday, April 24th. The company reported $2.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.25. Centene had a return on equity of 15.69% and a net margin of 2.06%. The firm had revenue of $13.19 billion during the quarter, compared to analyst estimates of $13.33 billion. During the same quarter in the previous year, the company posted $1.12 earnings per share. The company’s revenue was up 12.5% compared to the same quarter last year. equities research analysts anticipate that Centene Co. will post 7.05 EPS for the current year.

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.

Institutional Ownership by Quarter for Centene (NYSE:CNC)

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