AGF Management Ltd. Has $2.65 Million Stock Position in Centene Co. (NYSE:CNC)

AGF Management Ltd. boosted its position in shares of Centene Co. (NYSE:CNC) by 42.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,016 shares of the company’s stock after purchasing an additional 11,925 shares during the period. AGF Management Ltd.’s holdings in Centene were worth $2,653,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CNC. Pinebridge Investments L.P. boosted its stake in shares of Centene by 52.4% during the 4th quarter. Pinebridge Investments L.P. now owns 327,442 shares of the company’s stock worth $24,298,000 after acquiring an additional 112,605 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Centene by 18.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 624,944 shares of the company’s stock worth $49,046,000 after acquiring an additional 98,298 shares in the last quarter. GSA Capital Partners LLP boosted its stake in shares of Centene by 435.0% during the 1st quarter. GSA Capital Partners LLP now owns 20,052 shares of the company’s stock worth $1,574,000 after acquiring an additional 16,304 shares in the last quarter. Diversified Trust Co boosted its stake in shares of Centene by 35.8% during the 2nd quarter. Diversified Trust Co now owns 28,009 shares of the company’s stock worth $1,857,000 after acquiring an additional 7,385 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Centene by 5.8% during the 4th quarter. Wells Fargo & Company MN now owns 947,577 shares of the company’s stock worth $70,320,000 after acquiring an additional 51,878 shares in the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Trading Up 1.8 %

Centene stock opened at $74.81 on Friday. Centene Co. has a 12 month low of $63.45 and a 12 month high of $81.42. 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 business has a 50 day moving average price of $73.39 and a two-hundred day moving average price of $73.65. The stock has a market cap of $39.92 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 0.95 and a beta of 0.48.

Centene (NYSE:CNC) last issued its earnings results on Friday, July 26th. The company reported $2.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). Centene had a return on equity of 14.45% and a net margin of 1.79%. The company had revenue of $39.84 billion during the quarter, compared to analyst estimates of $36.83 billion. During the same period in the previous year, the company posted $2.10 earnings per share. The company’s quarterly revenue was up 5.9% on a year-over-year basis. As a group, equities analysts forecast that Centene Co. will post 6.83 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CNC shares. Truist Financial decreased their price target on Centene from $92.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, July 15th. JPMorgan Chase & Co. decreased their target price on Centene from $85.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Robert W. Baird began coverage on Centene in a research note on Thursday, May 30th. They set a “neutral” rating and a $83.00 target price for the company. StockNews.com upgraded Centene from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Finally, Stephens restated an “equal weight” rating and set a $78.00 target price on shares of Centene in a research note on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Centene currently has an average rating of “Moderate Buy” and an average target price of $85.75.

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.