KBC Group NV Increases Holdings in Centene Corporation (NYSE:CNC)

KBC Group NV lifted its position in Centene Corporation (NYSE:CNC - Free Report) by 44.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,317,738 shares of the company's stock after purchasing an additional 715,205 shares during the quarter. KBC Group NV owned about 0.47% of Centene worth $140,710,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CNC. MassMutual Private Wealth & Trust FSB increased its position in shares of Centene by 8.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 2,092 shares of the company's stock worth $127,000 after acquiring an additional 169 shares during the period. Private Trust Co. NA grew its stake in shares of Centene by 23.7% during the fourth quarter. Private Trust Co. NA now owns 956 shares of the company's stock worth $58,000 after purchasing an additional 183 shares in the last quarter. Intellectus Partners LLC boosted its stake in Centene by 2.8% in the fourth quarter. Intellectus Partners LLC now owns 7,224 shares of the company's stock valued at $438,000 after acquiring an additional 200 shares in the last quarter. MV Capital Management Inc. boosted its stake in Centene by 0.6% in the fourth quarter. MV Capital Management Inc. now owns 31,889 shares of the company's stock valued at $1,932,000 after acquiring an additional 202 shares in the last quarter. Finally, AlphaQuest LLC boosted its stake in shares of Centene by 1.7% during the fourth quarter. AlphaQuest LLC now owns 16,142 shares of the company's stock worth $978,000 after buying an additional 263 shares during the period. 93.63% of the stock is owned by institutional investors.

Centene Trading Up 0.8%

NYSE CNC opened at $53.98 on Friday. Centene Corporation has a one year low of $52.93 and a one year high of $80.59. The company has a 50-day simple moving average of $57.69 and a 200-day simple moving average of $59.62. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $26.86 billion, a PE ratio of 8.04, a price-to-earnings-growth ratio of 0.65 and a beta of 0.45.

Centene (NYSE:CNC - Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $2.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.52 by $0.38. The firm had revenue of $46.62 billion during the quarter, compared to analyst estimates of $43.16 billion. Centene had a net margin of 2.04% and a return on equity of 14.56%. Centene's revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.26 EPS. On average, equities analysts forecast that Centene Corporation will post 6.86 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Guggenheim reiterated a "neutral" rating on shares of Centene in a research note on Tuesday, April 29th. Robert W. Baird decreased their target price on shares of Centene from $71.00 to $69.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Wall Street Zen cut shares of Centene from a "strong-buy" rating to a "buy" rating in a report on Monday, April 28th. Barclays reissued an "equal weight" rating and set a $65.00 price target (down from $84.00) on shares of Centene in a report on Monday, June 2nd. Finally, Jefferies Financial Group cut their price target on shares of Centene from $64.00 to $61.00 and set a "hold" rating for the company in a report on Tuesday, April 29th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $77.71.

Centene Company Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children's health insurance program, foster care, medicare-medicaid plans, long-term services and support.

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