Royal Bank of Canada Has $63.94 Million Holdings in Centene Corporation (CNC)
Royal Bank of Canada grew its holdings in Centene Corporation (NYSE:CNC) by 60.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 800,422 shares of the company’s stock after acquiring an additional 300,835 shares during the period. Royal Bank of Canada owned 0.46% of Centene Corporation worth $63,936,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. AHL Partners LLP grew its position in Centene Corporation by 2.3% in the second quarter. AHL Partners LLP now owns 177,339 shares of the company’s stock worth $14,165,000 after acquiring an additional 3,959 shares in the last quarter. Zurich Insurance Group Ltd FI increased its stake in shares of Centene Corporation by 14.9% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 41,204 shares of the company’s stock worth $3,291,000 after purchasing an additional 5,330 shares during the last quarter. QCM Cayman Ltd. acquired a new position in shares of Centene Corporation during the 2nd quarter worth $286,000. Tudor Investment Corp ET AL increased its stake in shares of Centene Corporation by 31.1% during the 2nd quarter. Tudor Investment Corp ET AL now owns 32,175 shares of the company’s stock worth $2,570,000 after purchasing an additional 7,637 shares during the last quarter. Finally, HighTower Advisors LLC raised its holdings in shares of Centene Corporation by 26.3% during the 2nd quarter. HighTower Advisors LLC now owns 59,323 shares of the company’s stock valued at $4,727,000 after purchasing an additional 12,359 shares in the last quarter. 92.35% of the stock is owned by institutional investors.
In other Centene Corporation news, Director Robert K. Ditmore sold 4,167 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $82.59, for a total value of $344,152.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Michael F. Neidorff sold 35,000 shares of the firm’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $80.26, for a total transaction of $2,809,100.00. The disclosure for this sale can be found here. Insiders sold a total of 43,167 shares of company stock valued at $3,470,973 over the last ninety days. Insiders own 3.00% of the company’s stock.
Shares of Centene Corporation (CNC) traded down 0.13% during mid-day trading on Wednesday, hitting $96.84. The stock had a trading volume of 100,958 shares. The stock has a 50 day moving average of $89.87 and a 200-day moving average of $80.19. Centene Corporation has a 52 week low of $50.00 and a 52 week high of $98.72. The stock has a market capitalization of $16.70 billion, a P/E ratio of 21.25 and a beta of 0.68.
Centene Corporation (NYSE:CNC) last issued its quarterly earnings results on Tuesday, July 25th. The company reported $1.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.29. The business had revenue of $11.95 billion for the quarter, compared to the consensus estimate of $11.69 billion. Centene Corporation had a return on equity of 14.62% and a net margin of 1.72%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.29 earnings per share. On average, equities research analysts predict that Centene Corporation will post $4.92 earnings per share for the current year.
A number of brokerages recently issued reports on CNC. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $105.00 price objective on shares of Centene Corporation in a report on Friday, September 29th. Piper Jaffray Companies restated a “buy” rating and set a $105.00 target price on shares of Centene Corporation in a report on Thursday, July 27th. Jefferies Group LLC restated a “buy” rating and set a $98.00 target price on shares of Centene Corporation in a report on Thursday, July 27th. ValuEngine raised Centene Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 27th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $90.00 price target on shares of Centene Corporation in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $93.44.
About Centene Corporation
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.
Want to see what other hedge funds are holding CNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Centene Corporation (NYSE:CNC).
Receive News & Stock Ratings for Centene Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Centene Corporation and related stocks with our FREE daily email newsletter.