Zions Bancorporation N.A. lifted its holdings in shares of Centene Corp (NYSE:CNC) by 131.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 602 shares of the company’s stock after buying an additional 342 shares during the period. Zions Bancorporation N.A.’s holdings in Centene were worth $32,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Centene by 101.6% during the 1st quarter. BlackRock Inc. now owns 36,536,247 shares of the company’s stock worth $1,940,075,000 after purchasing an additional 18,409,531 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in Centene by 15,334.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,787,010 shares of the company’s stock worth $85,000 after acquiring an additional 9,723,601 shares during the period. Janus Henderson Group PLC grew its stake in Centene by 114.3% in the 1st quarter. Janus Henderson Group PLC now owns 4,657,134 shares of the company’s stock worth $247,296,000 after acquiring an additional 2,484,279 shares during the period. Norges Bank purchased a new stake in Centene in the 4th quarter worth approximately $245,858,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of Centene by 72.8% during the 1st quarter. Wells Fargo & Company MN now owns 4,130,361 shares of the company’s stock valued at $219,322,000 after acquiring an additional 1,740,267 shares in the last quarter. Hedge funds and other institutional investors own 90.68% of the company’s stock.
CNC stock remained flat at $$52.44 on Friday. 6,968,083 shares of the company traded hands, compared to its average volume of 6,737,061. The company has a market cap of $21.50 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 0.88 and a beta of 1.00. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. The business has a fifty day moving average price of $55.16. Centene Corp has a fifty-two week low of $45.44 and a fifty-two week high of $74.49.
Several equities analysts recently weighed in on the stock. Cowen assumed coverage on shares of Centene in a report on Thursday, February 28th. They set an “outperform” rating and a $77.00 target price on the stock. ValuEngine raised shares of Centene from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. Zacks Investment Research raised shares of Centene from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Tuesday, May 28th. Citigroup raised shares of Centene from a “neutral” rating to a “buy” rating and set a $69.00 price objective for the company in a research report on Friday, May 10th. Finally, Argus downgraded shares of Centene to a “hold” rating in a research report on Friday, March 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the company. Centene currently has an average rating of “Buy” and a consensus price target of $76.02.
Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.
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