Fintel reports that Capital World Investors has filed a 13G/A form with the SEC disclosing ownership of 49.81MM shares of Centene Corp (CNC). This represents 8.8% of the company.
In their previous filing dated February 11, 2022 they reported 46.85MM shares and 8.00% of the company, an increase in shares of 6.31% and an increase in total ownership of 0.80% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 34.85% Upside
As of February 13, 2023, the average one-year price target for Centene is $98.09. The forecasts range from a low of $79.79 to a high of $115.50. The average price target represents an increase of 34.85% from its latest reported closing price of $72.74.
The projected annual revenue for Centene is $145,909MM, an increase of 6.69%. The projected annual EPS is $6.41, an increase of 206.51%.
What is the Fund Sentiment?
There are 1813 funds or institutions reporting positions in Centene. This is an increase of 12 owner(s) or 0.67% in the last quarter. Average portfolio weight of all funds dedicated to CNC is 0.46%, a decrease of 2.19%. Total shares owned by institutions decreased in the last three months by 3.02% to 614,102K shares. The put/call ratio of CNC is 1.62, indicating a bearish outlook.
What are large shareholders doing?
Price T Rowe Associates holds 31,271K shares representing 5.68% ownership of the company. In it's prior filing, the firm reported owning 30,415K shares, representing an increase of 2.74%. The firm increased its portfolio allocation in CNC by 22.60% over the last quarter.
ANCFX - AMERICAN FUNDS FUNDAMENTAL INVESTORS holds 22,857K shares representing 4.15% ownership of the company. In it's prior filing, the firm reported owning 23,113K shares, representing a decrease of 1.12%. The firm decreased its portfolio allocation in CNC by 2.91% over the last quarter.
Wellington Management Group Llp holds 20,368K shares representing 3.70% ownership of the company. In it's prior filing, the firm reported owning 19,121K shares, representing an increase of 6.12%. The firm decreased its portfolio allocation in CNC by 85.16% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 17,036K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 17,229K shares, representing a decrease of 1.14%. The firm decreased its portfolio allocation in CNC by 5.22% over the last quarter.
Jpmorgan Chase & holds 13,894K shares representing 2.52% ownership of the company. In it's prior filing, the firm reported owning 20,690K shares, representing a decrease of 48.92%. The firm decreased its portfolio allocation in CNC by 91.18% over the last quarter.
Centene Background Information
(This description is provided by the company.)
Centene Corporation, a Fortune 50 company, is a leading multi-national healthcare enterprise that is committed to helping people live healthier lives. The Company takes a local approach – with local brands and local teams – to provide fully integrated, high-quality, and cost-effective services to government-sponsored and commercial healthcare programs, focusing on under-insured and uninsured individuals. Centene offers affordable and high-quality products to nearly 1 in 15 individuals across the nation, including Medicaid and Medicare members (including Medicare Prescription Drug Plans) as well as individuals and families served by the Health Insurance Marketplace, the TRICARE program, and individuals in correctional facilities. The Company also serves several international markets, and contracts with other healthcare and commercial organizations to provide a variety of specialty services focused on treating the whole person. Centene focuses on long-term growth and the development of its people, systems and capabilities so that it can better serve its members, providers, local communities, and government partners.
This story originally appeared on Fintel.
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