Psagot Value Holdings Ltd. Israel Has $62,000 Position in Centene Co. (NYSE:CNC)

Psagot Value Holdings Ltd. Israel increased its stake in Centene Co. (NYSE:CNCGet Rating) by 32.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 740 shares of the company’s stock after purchasing an additional 183 shares during the quarter. Psagot Value Holdings Ltd. Israel’s holdings in Centene were worth $62,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CNC. Gateway Investment Advisers LLC increased its position in Centene by 7.8% in the 1st quarter. Gateway Investment Advisers LLC now owns 7,630 shares of the company’s stock worth $642,000 after buying an additional 555 shares during the period. Huntington National Bank increased its position in Centene by 30.8% in the 1st quarter. Huntington National Bank now owns 1,309 shares of the company’s stock worth $110,000 after buying an additional 308 shares during the period. Whittier Trust Co. increased its position in Centene by 4.4% in the 1st quarter. Whittier Trust Co. now owns 2,981 shares of the company’s stock worth $251,000 after buying an additional 125 shares during the period. Metis Global Partners LLC increased its position in Centene by 81.3% in the 1st quarter. Metis Global Partners LLC now owns 9,225 shares of the company’s stock worth $776,000 after buying an additional 4,136 shares during the period. Finally, Kentucky Retirement Systems increased its position in Centene by 5.2% in the 1st quarter. Kentucky Retirement Systems now owns 37,193 shares of the company’s stock worth $3,131,000 after buying an additional 1,853 shares during the period. 94.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on CNC. Stephens lifted their price target on Centene to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. Credit Suisse Group set a $97.00 price objective on Centene in a research report on Tuesday, July 19th. Barclays initiated coverage on Centene in a research report on Thursday, July 28th. They issued an “overweight” rating and a $107.00 price target on the stock. Wells Fargo & Company cut Centene from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $103.00 to $99.00 in a research report on Friday, August 26th. Finally, Morgan Stanley lowered their price target on Centene from $112.00 to $103.00 and set an “overweight” rating on the stock in a research report on Thursday, June 23rd. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $98.89.

Centene Trading Up 0.8 %

Shares of CNC opened at $91.99 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.70. Centene Co. has a 12-month low of $59.67 and a 12-month high of $98.53. The firm has a market capitalization of $52.58 billion, a PE ratio of 29.20, a price-to-earnings-growth ratio of 1.14 and a beta of 0.52. The stock’s fifty day simple moving average is $91.54 and its 200-day simple moving average is $86.40.

Centene (NYSE:CNCGet Rating) last released its earnings results on Tuesday, July 26th. The company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.18. Centene had a return on equity of 12.92% and a net margin of 1.35%. The firm had revenue of $35.94 billion for the quarter, compared to analyst estimates of $35.56 billion. During the same quarter in the prior year, the firm posted $1.25 earnings per share. The company’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, research analysts predict that Centene Co. will post 5.7 earnings per share for the current year.

Centene announced that its board has authorized a stock buyback program on Friday, June 17th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to purchase up to 6.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Centene news, Director Lori Jean Robinson sold 1,200 shares of the stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $92.77, for a total value of $111,324.00. Following the completion of the sale, the director now directly owns 9,908 shares in the company, valued at $919,165.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Centene news, Director Richard A. Gephardt sold 10,220 shares of the firm’s stock in a transaction that occurred on Thursday, June 23rd. The stock was sold at an average price of $84.03, for a total value of $858,786.60. Following the completion of the transaction, the director now directly owns 27,040 shares in the company, valued at $2,272,171.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lori Jean Robinson sold 1,200 shares of Centene stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $92.77, for a total value of $111,324.00. Following the sale, the director now directly owns 9,908 shares of the company’s stock, valued at $919,165.16. The disclosure for this sale can be found here. Insiders sold 28,200 shares of company stock worth $2,458,274 over the last ninety days. 0.28% of the stock is currently owned by corporate insiders.

Centene Profile

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Centene Corporation operates as a multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. Its Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which cover dually eligible individuals, as well as aged, blind, or disabled programs.

Further Reading

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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