Green Valley Investors LLC Invests $19.64 Million in Centene Co. (CNC)

Green Valley Investors LLC bought a new stake in shares of Centene Co. (NYSE:CNC) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 183,800 shares of the company’s stock, valued at approximately $19,643,000. Centene makes up approximately 0.9% of Green Valley Investors LLC’s portfolio, making the stock its 28th biggest position. Green Valley Investors LLC owned approximately 0.09% of Centene as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. BlackRock Inc. grew its stake in Centene by 4.6% in the fourth quarter. BlackRock Inc. now owns 13,939,406 shares of the company’s stock worth $1,406,209,000 after purchasing an additional 616,914 shares during the period. Geode Capital Management LLC grew its stake in Centene by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 2,252,890 shares of the company’s stock worth $226,889,000 after purchasing an additional 72,566 shares during the period. Northern Trust Corp grew its stake in Centene by 0.8% in the first quarter. Northern Trust Corp now owns 1,994,281 shares of the company’s stock worth $213,129,000 after purchasing an additional 16,383 shares during the period. Deutsche Bank AG grew its stake in Centene by 19.1% in the fourth quarter. Deutsche Bank AG now owns 1,775,194 shares of the company’s stock worth $179,077,000 after purchasing an additional 284,620 shares during the period. Finally, Guggenheim Capital LLC grew its stake in Centene by 6.7% in the fourth quarter. Guggenheim Capital LLC now owns 926,418 shares of the company’s stock worth $93,456,000 after purchasing an additional 58,162 shares during the period. Institutional investors own 76.39% of the company’s stock.

Centene opened at $115.38 on Monday, according to MarketBeat Ratings. Centene Co. has a 12 month low of $72.14 and a 12 month high of $117.86. The firm has a market capitalization of $23.67 billion, a PE ratio of 18.98, a P/E/G ratio of 1.11 and a beta of 0.75. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.01.

Centene (NYSE:CNC) last released its earnings results on Tuesday, April 24th. The company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $13.33 billion. During the same period in the prior year, the firm posted $1.12 earnings per share. The company’s quarterly revenue was up 12.5% on a year-over-year basis. equities analysts anticipate that Centene Co. will post 7.05 earnings per share for the current year.

In related news, EVP Christopher D. Bowers sold 4,800 shares of the stock in a transaction on Monday, March 12th. The stock was sold at an average price of $102.27, for a total transaction of $490,896.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael F. Neidorff sold 250,000 shares of the stock in a transaction on Thursday, April 26th. The shares were sold at an average price of $108.20, for a total value of $27,050,000.00. The disclosure for this sale can be found here. Insiders have sold 265,550 shares of company stock worth $28,712,209 over the last ninety days. 3.00% of the stock is currently owned by insiders.

CNC has been the topic of several recent research reports. Cantor Fitzgerald upped their price target on Centene from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Leerink Swann reaffirmed a “market perform” rating and issued a $90.00 price target (down from $100.00) on shares of Centene in a research note on Tuesday, February 13th. Morgan Stanley upped their price target on Centene from $126.00 to $127.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 25th. BMO Capital Markets reaffirmed a “buy” rating on shares of Centene in a research note on Monday, March 26th. Finally, Citigroup reissued an “outperform” rating and issued a $130.00 target price (up from $122.00) on shares of Centene in a research note on Wednesday, February 7th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $113.63.

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. 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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