Trade Report: Today, Centene Corp. (CNC) Position Decreased by Assetmark Inc.

Today, Centene Corp. (CNC) Position Decreased by Assetmark Inc.

Assetmark Inc. decreased its stake in shares of Centene Corp. (NYSE:CNC) by 15.5% during the third quarter, Holdings Channel reports. The fund owned 23,909 shares of the company’s stock after selling 4,383 shares during the period. Assetmark Inc.’s holdings in Centene Corp. were worth $1,601,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CNC. Winslow Capital Management LLC purchased a new position in shares of Centene Corp. during the second quarter valued at about $293,813,000. UBS Asset Management Americas Inc. increased its position in shares of Centene Corp. by 463.7% in the third quarter. UBS Asset Management Americas Inc. now owns 2,371,963 shares of the company’s stock valued at $158,828,000 after buying an additional 1,951,174 shares during the last quarter. 1832 Asset Management L.P. increased its position in shares of Centene Corp. by 186.6% in the second quarter. 1832 Asset Management L.P. now owns 1,608,591 shares of the company’s stock valued at $192,191,000 after buying an additional 1,047,361 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Centene Corp. during the second quarter valued at about $72,414,000. Finally, Columbia Wanger Asset Management LLC purchased a new position in shares of Centene Corp. during the second quarter valued at about $63,405,000. 94.72% of the stock is currently owned by institutional investors and hedge funds.

Centene Corp. (NYSE:CNC) opened at 56.41 on Friday. The company has a market capitalization of $9.64 billion, a P/E ratio of 20.78 and a beta of 0.79. Centene Corp. has a 1-year low of $47.36 and a 1-year high of $75.57. The firm’s 50-day moving average is $60.12 and its 200-day moving average is $65.45.

Centene Corp. (NYSE:CNC) last posted its earnings results on Tuesday, October 25th. The company reported $1.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.15 by $0.04. The business earned $10.85 billion during the quarter, compared to analyst estimates of $10.96 million. Centene Corp. had a net margin of 1.17% and a return on equity of 13.40%. Centene Corp.’s revenue was up 86.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.87 earnings per share. Equities research analysts predict that Centene Corp. will post $4.33 EPS for the current year.

Several brokerages recently commented on CNC. Leerink Swann lowered shares of Centene Corp. from an “outperform” rating to a “market perform” rating and set a $80.00 price target for the company. in a research report on Tuesday, September 6th. Jefferies Group reaffirmed a “buy” rating and set a $82.00 price target on shares of Centene Corp. in a research report on Sunday, October 16th. FBR & Co reaffirmed a “buy” rating on shares of Centene Corp. in a research report on Thursday, September 1st. Zacks Investment Research lowered shares of Centene Corp. from a “buy” rating to a “hold” rating in a research report on Monday, August 1st. Finally, Evercore ISI began coverage on shares of Centene Corp. in a research report on Thursday, September 22nd. They set a “buy” rating and a $79.00 price target for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $79.41.

In other Centene Corp. news, EVP Jesse N. Hunter sold 5,000 shares of Centene Corp. stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $65.00, for a total value of $325,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Carol Goldman sold 10,000 shares of Centene Corp. stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $66.36, for a total transaction of $663,600.00. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by company insiders.

About Centene Corp.

Centene Corporation is a diversified healthcare company that provides programs and services to government sponsored healthcare programs. The Company also provides education and outreach programs to inform and assist members in accessing appropriate healthcare services. The Company operates through two segments.

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