Icon Advisers Inc. Co. Raises Position in Centene Corp (CNC)

Icon Advisers Inc. Co. increased its position in shares of Centene Corp (NYSE:CNC) by 10.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,411 shares of the company’s stock after purchasing an additional 2,100 shares during the quarter. Icon Advisers Inc. Co.’s holdings in Centene were worth $3,245,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of CNC. BlackRock Inc. increased its position in shares of Centene by 15.5% during the second quarter. BlackRock Inc. now owns 15,847,653 shares of the company’s stock worth $1,952,589,000 after purchasing an additional 2,122,661 shares in the last quarter. Jennison Associates LLC grew its holdings in Centene by 47.6% in the 2nd quarter. Jennison Associates LLC now owns 2,113,026 shares of the company’s stock valued at $260,346,000 after buying an additional 681,847 shares in the last quarter. Partner Fund Management L.P. purchased a new stake in Centene in the 2nd quarter valued at $80,237,000. PNC Financial Services Group Inc. grew its holdings in Centene by 1,217.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 603,000 shares of the company’s stock valued at $74,297,000 after buying an additional 557,223 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in Centene by 1,058.5% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 419,826 shares of the company’s stock valued at $51,726,000 after buying an additional 383,588 shares in the last quarter. Hedge funds and other institutional investors own 89.84% of the company’s stock.

In other news, EVP Christopher D. Bowers sold 3,800 shares of the company’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $145.55, for a total value of $553,090.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert K. Ditmore sold 15,000 shares of the company’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $145.06, for a total value of $2,175,900.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,800 shares of company stock worth $4,957,590. Corporate insiders own 3.00% of the company’s stock.

Shares of Centene stock opened at $142.96 on Thursday. Centene Corp has a 52 week low of $90.07 and a 52 week high of $148.24. The firm has a market capitalization of $26.88 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 1.24 and a beta of 1.05. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59.

Centene (NYSE:CNC) last announced its quarterly 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. Centene had a return on equity of 14.42% and a net margin of 1.58%. The business had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.93 billion. During the same quarter in the prior year, the company posted $1.35 EPS. The company’s quarterly revenue was up 36.0% on a year-over-year basis. Equities analysts forecast that Centene Corp will post 7.05 earnings per share for the current fiscal year.

Several analysts have issued reports on the company. Zacks Investment Research upgraded Centene from a “sell” rating to a “hold” rating in a report on Thursday, October 25th. Leerink Swann upgraded Centene from a “market perform” rating to an “outperform” rating and set a $159.68 target price for the company in a report on Wednesday, October 24th. MED upped their target price on Centene from $146.00 to $158.00 and gave the company an “outperform” rating in a report on Tuesday, October 2nd. Oppenheimer upped their target price on Centene from $146.00 to $158.00 and gave the company an “outperform” rating in a report on Tuesday, October 2nd. Finally, Mitsubishi UFJ Financial Group assumed coverage on Centene in a report on Wednesday, September 19th. They issued an “overweight” rating and a $170.00 target price for the company. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $151.67.

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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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