Swedbank Robur Fonder AB has recently announced that it has increased stake in Centene Corp. (NYSE:CNC) by 0.14%. After grabbing 13.24 million shares, the institutional investor is now in possession of 17900.0 shares of the Healthcare Company. The new investment brought the stake of investor firm to 2.48% having worth around $975.87 million. Moreover, Geode Capital Management LLC increased its share by 0.14 million to have a control over 10.15 million shares. And JPMorgan Investment Management, I raised its holdings to 91413.0 shares by acquiring 9.21 million shares or 1.73% of the stake.
Centene Corp. (CNC) concluded trading on December 20, 2023 at a closing price of $72.21, with 4.48 million shares of worth about $323.71 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 8.10% during that period and On Wednesday the price saw a loss of about -3.11%. Currently the company’s common shares owned by public are about 550.75M shares, out of which, 528.52M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 66 times over the past 12 months. They bought 633,407 shares in 48 of the transactions. In 18 selling transactions, insiders dumped 84,599 shares.
American Funds Fundamental Invest, Vanguard Total Stock Market ETF, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in Centene Corp. American Funds Fundamental Invest is currently holding 18.35 million shares of worth totaling $1.35 billion. The company recently came selling -4.33 million shares which brought its stake up to 3.44% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 85833.0 shares, after which its hold over company’s outstanding shares expand to 3.17%, leaving 16.95 million shares with the mutual fund that have a worth of about $1.25 billion. Vanguard 500 Index Fund, after buying 13.08 million shares, have now control over 2.45% of the stake in the company. It holds 64467.0 shares of worth $963.54 million.
However, the stock later moved at a day high price of 74.46, or with a loss of -3.11%. Stock saw a price change of -5.82% in past 5 days and over the past one month there was a price change of -0.76%. Year-to-date (YTD), CNC shares are showing a performance of -11.95% which decreased to -11.31% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $60.83 but also hit the highest price of $83.61 during that period. The average intraday trading volume for Centene Corp. shares is 3.17 million. The stock is currently trading -2.82% below its 20-day simple moving average (SMA20), while that difference is down -0.10% for SMA50 and it goes to 6.37% higher than SMA200.
Swedbank Robur Fonder AB acquired 13.24 million shares of Centene Corp. having value of about $975.87 million. Data submitted at the U.S SEC by Swedbank Robur Fonder AB revealed that the firm now holds 17900.0 shares in the company valued at close to $1292559.0, or have control over 0.14% stake in the company. Centene Corp. (NYSE: CNC) currently have 550.75M outstanding shares and institutions hold larger chunk of about 92.50% of that. Holding of mutual funds in the company is about 35.70% while other institutional holders and individual stake holders have control over 59.73% and 3.39% of the stake respectively.
The stock has a current market capitalization of $38.57B and its 3Y-monthly beta is at 0.41. PE ratio of stock for trailing 12 months is 16.23, while it has posted earnings per share of $4.45 in the same period. Its PEG reads 1.39 while making debt-to-equity ratio of 0.76. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CNC, volatility over the week remained 2.66% while standing at 2.39% over the month.
Analysts are in expectations that Centene Corp. (CNC) stock would likely to be making an EPS of $0.43 in the current quarter, while forecast for next quarter EPS is $2.16 and it is $6.8 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.35 which is $0.55 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.86 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 13.33% while it is estimated to increase by 1.49% in next year. EPS is likely to grow at an annualized rate of 11.71% for next 5-years, compared to annual growth of -2.49% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BofA Securities on September 05, 2023 offering a Neutral rating for the stock and assigned a target price range of between $79 and $72 to it.
