Today, 42,900 Shares of Centene Corp. (CNC) are sold by Virginia Retirement Systems ET AL

Today, 42,900 Shares of Centene Corp. (CNC) are sold by Virginia Retirement Systems ET AL
Virginia Retirement Systems ET AL decreased its position in shares of Centene Corp. (NYSE:CNC) by 90.3% during the third quarter, Holdings Channel reports. The institutional investor owned 4,600 shares of the company’s stock after selling 42,900 shares during the period. Virginia Retirement Systems ET AL’s holdings in Centene Corp. were worth $308,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Gateway Investment Advisers LLC increased its position in Centene Corp. by 54.2% in the second quarter. Gateway Investment Advisers LLC now owns 14,427 shares of the company’s stock worth $1,030,000 after buying an additional 5,069 shares in the last quarter. Atria Investments LLC purchased a new stake in shares of Centene Corp. during the second quarter valued at $278,000. Quotient Investors LLC purchased a new stake in shares of Centene Corp. during the second quarter valued at $1,595,000. Chevy Chase Trust Holdings Inc. increased its stake in shares of Centene Corp. by 1.6% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 145,624 shares of the company’s stock valued at $10,393,000 after buying an additional 2,249 shares during the period. Finally, Exxonmobil Investment Management Inc. TX increased its stake in shares of Centene Corp. by 6.6% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 44,126 shares of the company’s stock valued at $3,149,000 after buying an additional 2,749 shares during the period. Hedge funds and other institutional investors own 94.72% of the company’s stock.

Shares of Centene Corp. (NYSE:CNC) traded up 0.64% on Friday, hitting $56.77. 416,591 shares of the company traded hands. The company has a market capitalization of $9.70 billion, a PE ratio of 20.91 and a beta of 0.79. Centene Corp. has a 12 month low of $47.36 and a 12 month high of $75.57. The stock’s 50-day moving average price is $59.91 and its 200-day moving average price is $65.42.

Centene Corp. (NYSE:CNC) last announced its earnings results on Tuesday, October 25th. The company reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.15 by $0.04. Centene Corp. had a return on equity of 13.40% and a net margin of 1.17%. The business had revenue of $10.85 billion for the quarter, compared to analysts’ expectations of $10.96 million. During the same period in the previous year, the company earned $0.87 earnings per share. Centene Corp.’s quarterly revenue was up 86.3% on a year-over-year basis. On average, equities analysts predict that Centene Corp. will post $4.33 earnings per share for the current year.

Several brokerages have weighed in on CNC. Wedbush restated an “outperform” rating and issued a $85.00 target price on shares of Centene Corp. in a research note on Wednesday, September 7th. Leerink Swann restated a “hold” rating on shares of Centene Corp. in a research note on Tuesday, October 4th. Jefferies Group restated a “buy” rating and issued a $82.00 target price on shares of Centene Corp. in a research note on Sunday, October 16th. Evercore ISI began coverage on shares of Centene Corp. in a research note on Thursday, September 22nd. They issued a “buy” rating and a $79.00 target price for the company. Finally, Credit Suisse Group AG restated a “buy” rating and issued a $78.00 target price on shares of Centene Corp. in a research note on Thursday, September 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $79.41.

In other Centene Corp. news, EVP Jesse N. Hunter sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $65.00, for a total transaction of $325,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Carol Goldman sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was 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. Company insiders own 4.50% of the company’s stock.

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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