Crossmark Global Holdings Inc. Purchases 3,510 Shares of Centene Co. (NYSE:CNC)

Crossmark Global Holdings Inc. grew its position in Centene Co. (NYSE:CNCFree Report) by 18.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,530 shares of the company’s stock after purchasing an additional 3,510 shares during the period. Crossmark Global Holdings Inc.’s holdings in Centene were worth $1,672,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CNC. Norges Bank bought a new stake in shares of Centene in the fourth quarter valued at about $1,325,441,000. Harris Associates L P bought a new stake in Centene during the third quarter worth about $274,274,000. Jennison Associates LLC raised its holdings in Centene by 535.9% during the fourth quarter. Jennison Associates LLC now owns 1,837,980 shares of the company’s stock worth $136,396,000 after acquiring an additional 1,548,961 shares in the last quarter. Canoe Financial LP raised its holdings in Centene by 375.1% during the fourth quarter. Canoe Financial LP now owns 1,943,982 shares of the company’s stock worth $144,263,000 after acquiring an additional 1,534,826 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Centene by 8.7% during the third quarter. Invesco Ltd. now owns 8,788,485 shares of the company’s stock worth $605,351,000 after acquiring an additional 704,684 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors.

Insider Activity at Centene

In related news, Director Christopher J. Coughlin sold 878 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $76.75, for a total value of $67,386.50. Following the completion of the sale, the director now directly owns 25,504 shares in the company, valued at $1,957,432. The sale was disclosed in a filing with the SEC, which is available at this link. In other Centene news, Director Christopher J. Coughlin sold 878 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $76.75, for a total transaction of $67,386.50. Following the completion of the sale, the director now directly owns 25,504 shares in the company, valued at $1,957,432. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Kenneth J. Fasola sold 8,000 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $77.62, for a total value of $620,960.00. Following the sale, the president now owns 300,357 shares of the company’s stock, valued at $23,313,710.34. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CNC has been the topic of several analyst reports. Barclays upped their target price on Centene from $101.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft upped their target price on Centene from $81.00 to $82.00 and gave the stock a “hold” rating in a report on Tuesday, April 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 price target on shares of Centene in a research report on Thursday, April 4th. Baird R W raised Centene to a “hold” rating in a research report on Thursday, May 30th. Finally, StockNews.com downgraded Centene from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 3rd. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $84.93.

Check Out Our Latest Report on CNC

Centene Price Performance

Centene stock opened at $69.81 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $37.25 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 0.91 and a beta of 0.47. The stock’s 50 day moving average is $74.11 and its 200-day moving average is $75.52. Centene Co. has a 12 month low of $60.83 and a 12 month high of $81.42.

Centene (NYSE:CNCGet Free Report) last issued its quarterly earnings results on Friday, April 26th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.17. The business had revenue of $40.41 billion during the quarter, compared to analysts’ expectations of $36.43 billion. Centene had a return on equity of 14.19% and a net margin of 1.76%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.11 earnings per share. Equities research analysts expect that Centene Co. will post 6.82 EPS for the current year.

Centene Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Centene (NYSE:CNC)

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