APG Asset Management US Inc. Purchases 3,244 Shares of Centene Co. (NYSE:CNC)

APG Asset Management US Inc. boosted its position in Centene Co. (NYSE:CNC) by 2.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 157,506 shares of the company’s stock after purchasing an additional 3,244 shares during the period. APG Asset Management US Inc.’s holdings in Centene were worth $10,291,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CNC. AQR Capital Management LLC grew its stake in shares of Centene by 22.9% during the second quarter. AQR Capital Management LLC now owns 4,461,517 shares of the company’s stock valued at $295,799,000 after buying an additional 832,318 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Centene by 60.6% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 102,436 shares of the company’s stock worth $6,792,000 after acquiring an additional 38,655 shares during the last quarter. First Light Asset Management LLC purchased a new position in Centene in the 2nd quarter worth approximately $5,889,000. Marshall Wace LLP bought a new stake in Centene in the second quarter valued at approximately $8,374,000. Finally, Stanley Capital Management LLC boosted its stake in shares of Centene by 3.8% during the second quarter. Stanley Capital Management LLC now owns 218,800 shares of the company’s stock valued at $14,506,000 after purchasing an additional 8,000 shares during the period. 93.63% of the stock is currently owned by institutional investors.

Centene Stock Performance

Shares of CNC opened at $73.71 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.64. The stock has a market cap of $39.34 billion, a P/E ratio of 14.65, a P/E/G ratio of 1.02 and a beta of 0.48. The business’s 50 day moving average price is $74.90 and its 200-day moving average price is $73.41. Centene Co. has a 52 week low of $63.45 and a 52 week high of $81.42.

Centene (NYSE:CNC) last released its earnings results on Friday, July 26th. The company reported $2.42 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). The company had revenue of $39.84 billion during the quarter, compared to analysts’ expectations of $36.83 billion. Centene had a return on equity of 14.45% and a net margin of 1.79%. The company’s revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.10 earnings per share. Equities research analysts anticipate that Centene Co. will post 6.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CNC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Centene from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Stephens reaffirmed an “equal weight” rating and set a $78.00 price objective on shares of Centene in a research note on Monday, August 5th. Wells Fargo & Company cut their target price on Centene from $93.00 to $91.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. Truist Financial dropped their price objective on Centene from $92.00 to $89.00 and set a “buy” rating for the company in a report on Monday, July 15th. Finally, Robert W. Baird initiated coverage on Centene in a research note on Thursday, May 30th. They set a “neutral” rating and a $83.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Centene presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.58.

Centene 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.