Robeco Institutional Asset Management B.V. trimmed its position in Centene Corp (NYSE:CNC) by 52.1% during the third quarter, HoldingsChannel reports. The firm owned 96,750 shares of the company’s stock after selling 105,324 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Centene were worth $14,005,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Capital Advisors Ltd. LLC acquired a new stake in shares of Centene in the 3rd quarter valued at $264,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Centene by 77.3% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 2,223 shares of the company’s stock valued at $322,000 after purchasing an additional 969 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Centene by 0.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 197,500 shares of the company’s stock valued at $28,594,000 after purchasing an additional 1,000 shares in the last quarter. IFM Investors Pty Ltd raised its holdings in shares of Centene by 16.3% in the 3rd quarter. IFM Investors Pty Ltd now owns 10,614 shares of the company’s stock valued at $1,537,000 after purchasing an additional 1,487 shares in the last quarter. Finally, Bfsg LLC acquired a new stake in shares of Centene in the 3rd quarter valued at $502,000. Institutional investors and hedge funds own 89.98% of the company’s stock.
In other Centene news, Director Robert K. Ditmore sold 15,000 shares of the firm’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $145.06, for a total transaction of $2,175,900.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Christopher D. Bowers sold 3,800 shares of the firm’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $145.55, for a total transaction of $553,090.00. The disclosure for this sale can be found here. Insiders have sold a total of 35,800 shares of company stock worth $4,957,590 over the last three months. 3.00% of the stock is currently owned by insiders.
Centene (NYSE:CNC) last posted its earnings results on Tuesday, October 23rd. The company reported $1.79 EPS for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.02. Centene had a net margin of 1.58% and a return on equity of 14.42%. The firm had revenue of $16.18 billion for the quarter, compared to the consensus estimate of $15.93 billion. During the same period last year, the firm posted $1.35 EPS. The company’s revenue was up 36.0% on a year-over-year basis. On average, research analysts forecast that Centene Corp will post 7.05 EPS for the current fiscal year.
CNC has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Centene from a “sell” rating to a “hold” rating in a research report on Thursday, October 25th. Leerink Swann raised shares of Centene from a “market perform” rating to an “outperform” rating and set a $159.68 target price on the stock in a research report on Wednesday, October 24th. MED increased their target price on shares of Centene from $146.00 to $158.00 and gave the company an “outperform” rating in a research report on Tuesday, October 2nd. Oppenheimer increased their target price on shares of Centene from $146.00 to $158.00 and gave the company an “outperform” rating in a research report on Tuesday, October 2nd. Finally, Mitsubishi UFJ Financial Group initiated coverage on shares of Centene in a research report on Wednesday, September 19th. They issued an “overweight” rating and a $170.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $151.67.
Centene Company 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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