Leuthold Group LLC Boosts Stock Position in Centene Co. (NYSE:CNC)

Leuthold Group LLC grew its position in Centene Co. (NYSE:CNC) by 2.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 77,727 shares of the company’s stock after buying an additional 1,665 shares during the period. Leuthold Group LLC’s holdings in Centene were worth $5,768,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Invesco Ltd. boosted its stake in Centene by 8.7% in the third quarter. Invesco Ltd. now owns 8,788,485 shares of the company’s stock valued at $605,351,000 after acquiring an additional 704,684 shares in the last quarter. Morgan Stanley boosted its position in shares of Centene by 7.3% in the 3rd quarter. Morgan Stanley now owns 6,023,782 shares of the company’s stock worth $414,918,000 after purchasing an additional 408,525 shares in the last quarter. Northern Trust Corp grew its stake in Centene by 3.7% during the 3rd quarter. Northern Trust Corp now owns 5,288,229 shares of the company’s stock worth $364,253,000 after buying an additional 187,958 shares during the last quarter. Harris Associates L P purchased a new stake in Centene in the third quarter valued at about $274,274,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Centene by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,547,697 shares of the company’s stock worth $244,365,000 after acquiring an additional 102,480 shares in the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene Stock Performance

NYSE:CNC traded up $0.65 during trading hours on Tuesday, reaching $75.79. The company had a trading volume of 327,464 shares, compared to its average volume of 3,160,216. The firm has a market cap of $40.45 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 0.96 and a beta of 0.41. Centene Co. has a 1-year low of $60.83 and a 1-year high of $81.42. The business’s 50 day moving average price is $75.64 and its 200-day moving average price is $74.92. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.17 and a quick ratio of 1.17.

Centene (NYSE:CNC) last announced its quarterly earnings results on Friday, April 26th. The company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.17. Centene had a net margin of 1.76% and a return on equity of 14.19%. The firm had revenue of $40.41 billion for the quarter, compared to the consensus estimate of $36.43 billion. During the same period in the prior year, the firm posted $2.11 earnings per share. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. Research analysts forecast that Centene Co. will post 6.82 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. StockNews.com upgraded shares of Centene from a “buy” rating to a “strong-buy” rating in a report on Monday, April 29th. Stephens reaffirmed an “equal weight” rating and issued a $85.00 price target (down previously from $92.00) on shares of Centene in a report on Thursday, March 21st. Wells Fargo & Company upped their target price on Centene from $89.00 to $93.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Oppenheimer restated an “outperform” rating and issued a $110.00 target price on shares of Centene in a research note on Monday, April 29th. Finally, Barclays boosted their price target on Centene from $101.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Centene currently has a consensus rating of “Moderate Buy” and an average price target of $85.23.

Insider Transactions at Centene

In related news, Director Lori Jean Robinson sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $77.41, for a total value of $774,100.00. Following the completion of the transaction, the director now owns 11,455 shares of the company’s stock, valued at approximately $886,731.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Lori Jean Robinson sold 10,000 shares of Centene stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $77.41, for a total value of $774,100.00. Following the sale, the director now owns 11,455 shares of the company’s stock, valued at approximately $886,731.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Kenneth J. Fasola sold 12,000 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $75.07, for a total transaction of $900,840.00. Following the transaction, the president now owns 235,365 shares of the company’s stock, valued at $17,668,850.55. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Centene Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children's health insurance program, foster care, medicare-medicaid plans, long-term services and support.