TD Asset Management Inc. Purchases 46,236 Shares of Centene Corp (CNC)

TD Asset Management Inc. boosted its position in Centene Corp (NYSE:CNC) by 11.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 453,335 shares of the company’s stock after acquiring an additional 46,236 shares during the period. TD Asset Management Inc.’s holdings in Centene were worth $65,634,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Tavio Capital LLC purchased a new stake in shares of Centene in the second quarter worth approximately $20,773,000. Sentry Investment Management LLC purchased a new stake in shares of Centene in the second quarter worth approximately $1,679,000. Commonwealth Bank of Australia raised its stake in shares of Centene by 16.3% in the second quarter. Commonwealth Bank of Australia now owns 18,178 shares of the company’s stock worth $2,234,000 after purchasing an additional 2,554 shares during the last quarter. DNB Asset Management AS raised its stake in shares of Centene by 11.5% in the third quarter. DNB Asset Management AS now owns 25,309 shares of the company’s stock worth $3,664,000 after purchasing an additional 2,609 shares during the last quarter. Finally, Greenleaf Trust purchased a new stake in shares of Centene in the second quarter worth approximately $301,000. Institutional investors and hedge funds own 89.84% of the company’s stock.

In other Centene news, Director Robert K. Ditmore sold 15,000 shares of the stock in a transaction on Monday, September 10th. The stock was sold at an average price of $145.06, for a total transaction of $2,175,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Keith H. Williamson sold 2,000 shares of the stock in a transaction on Friday, September 28th. The shares were sold at an average price of $145.00, for a total value of $290,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,800 shares of company stock valued at $4,957,590. 3.00% of the stock is owned by corporate insiders.

Several analysts have recently commented on the company. Barclays assumed coverage on Centene in a research note on Monday, July 23rd. They issued an “overweight” rating and a $158.00 price objective for the company. MED reissued an “outperform” rating and issued a $146.00 price objective (up from $138.00) on shares of Centene in a research note on Wednesday, July 25th. Credit Suisse Group increased their price objective on Centene from $134.00 to $152.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 4th. Citigroup reissued a “neutral” rating and issued a $147.00 price objective on shares of Centene in a research note on Wednesday, July 18th. Finally, Morgan Stanley increased their price objective on Centene from $136.00 to $138.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 25th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $151.67.

Shares of CNC opened at $130.88 on Wednesday. Centene Corp has a 12 month low of $90.07 and a 12 month high of $148.24. The company has a market cap of $26.55 billion, a P/E ratio of 26.02, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03.

Centene (NYSE:CNC) last announced its quarterly earnings data on Tuesday, October 23rd. The company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.02. Centene had a return on equity of 14.42% and a net margin of 1.58%. The business had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.93 billion. During the same period in the prior year, the company earned $1.35 earnings per share. Centene’s revenue was up 36.0% compared to the same quarter last year. On average, equities research analysts predict that Centene Corp will post 7.05 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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