LPL Financial LLC Increases Holdings in Centene Corp (CNC)

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LPL Financial LLC grew its position in Centene Corp (NYSE:CNC) by 15.5% in the third quarter, HoldingsChannel.com reports. The fund owned 58,587 shares of the company’s stock after buying an additional 7,852 shares during the period. LPL Financial LLC’s holdings in Centene were worth $8,482,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. FNY Investment Advisers LLC acquired a new position in shares of Centene in the 3rd quarter worth approximately $106,000. Fort L.P. acquired a new stake in Centene during the 2nd quarter valued at $122,000. TRUE Private Wealth Advisors acquired a new stake in Centene during the 3rd quarter valued at $173,000. Wetherby Asset Management Inc. acquired a new stake in Centene during the 3rd quarter valued at $200,000. Finally, We Are One Seven LLC acquired a new stake in Centene during the 3rd quarter valued at $209,000. Institutional investors own 88.79% of the company’s stock.

CNC has been the subject of a number of recent analyst reports. Goldman Sachs Group cut Centene from a “conviction-buy” rating to a “buy” rating in a report on Monday. Cantor Fitzgerald reaffirmed a “buy” rating and set a $145.00 price target on shares of Centene in a report on Thursday, December 13th. Zacks Investment Research raised Centene from a “sell” rating to a “hold” rating in a report on Thursday, October 4th. ValuEngine cut Centene from a “buy” rating to a “hold” rating in a report on Monday. Finally, Credit Suisse Group raised their price target on Centene from $134.00 to $152.00 and gave the company a “neutral” rating in a report on Tuesday, September 4th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $155.45.

In other news, EVP Keith H. Williamson sold 2,000 shares of Centene stock in a transaction on Friday, September 28th. The stock was sold at an average price of $145.00, for a total value of $290,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert K. Ditmore sold 15,000 shares of Centene stock in a transaction on Thursday, October 25th. The shares were sold at an average price of $129.24, for a total value of $1,938,600.00. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.

NYSE CNC opened at $120.09 on Wednesday. The firm has a market capitalization of $24.93 billion, a PE ratio of 23.87, a PEG ratio of 1.14 and a beta of 1.06. Centene Corp has a 52 week low of $97.61 and a 52 week high of $148.98. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59.

Centene (NYSE:CNC) last released its earnings results on Tuesday, October 23rd. The company reported $1.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $0.02. The company had revenue of $16.18 billion during the quarter, compared to analysts’ expectations of $15.93 billion. Centene had a return on equity of 14.42% and a net margin of 1.58%. The business’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same period last year, the firm earned $1.35 EPS. As a group, equities research analysts expect that Centene Corp will post 7.04 EPS for the current year.

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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.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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