TCW Group Inc. Sells 130,167 Shares of Centene Corporation (CNC)

TCW Group Inc. lowered its holdings in shares of Centene Corporation (NYSE:CNC) by 14.5% during the fourth quarter, HoldingsChannel reports. The firm owned 769,013 shares of the company’s stock after selling 130,167 shares during the period. TCW Group Inc.’s holdings in Centene were worth $77,578,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Centene by 4.6% during the 4th quarter. BlackRock Inc. now owns 13,939,406 shares of the company’s stock valued at $1,406,209,000 after purchasing an additional 616,914 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Centene by 47.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,181,047 shares of the company’s stock valued at $502,999,000 after purchasing an additional 1,676,688 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Centene by 6.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,398,997 shares of the company’s stock valued at $232,137,000 after purchasing an additional 149,743 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Centene by 5.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,274,681 shares of the company’s stock valued at $123,351,000 after purchasing an additional 63,688 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Centene by 68.2% during the 4th quarter. Acadian Asset Management LLC now owns 1,239,278 shares of the company’s stock valued at $125,021,000 after purchasing an additional 502,329 shares in the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

Shares of Centene Corporation (NYSE CNC) opened at $100.22 on Monday. The company has a quick ratio of 0.99, a current ratio of 0.93 and a debt-to-equity ratio of 0.68. The stock has a market cap of $17,381.86, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 0.96 and a beta of 0.71. Centene Corporation has a 12-month low of $65.03 and a 12-month high of $112.42.

Centene (NYSE:CNC) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. The company had revenue of $12.81 billion for the quarter, compared to analyst estimates of $12.25 billion. Centene had a net margin of 1.71% and a return on equity of 13.68%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the business posted $1.19 EPS. sell-side analysts predict that Centene Corporation will post 7.2 earnings per share for the current fiscal year.

A number of research firms have recently weighed in on CNC. Leerink Swann restated a “market perform” rating and set a $90.00 price target (down previously from $100.00) on shares of Centene in a report on Tuesday, February 13th. Morgan Stanley raised their price target on shares of Centene from $118.00 to $126.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Credit Suisse Group raised their price target on shares of Centene from $110.00 to $112.00 and gave the company a “neutral” rating in a report on Wednesday, February 7th. Cantor Fitzgerald raised their price target on shares of Centene from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Finally, Citigroup restated an “outperform” rating and set a $130.00 price target (up previously from $122.00) on shares of Centene in a report on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Centene presently has an average rating of “Buy” and a consensus target price of $110.28.

In other Centene news, Director Robert K. Ditmore sold 8,750 shares of the firm’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $104.30, for a total value of $912,625.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Jesse N. Hunter sold 10,000 shares of the firm’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $98.73, for a total transaction of $987,300.00. The disclosure for this sale can be found here. Insiders sold a total of 32,500 shares of company stock worth $3,311,613 over the last 90 days. Company insiders own 3.00% of the company’s stock.

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Centene Company Profile

Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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