Avanza Fonder AB Acquires New Shares in Centene Co. (NYSE:CNC)

Avanza Fonder AB bought a new stake in Centene Co. (NYSE:CNC - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 38,733 shares of the company's stock, valued at approximately $2,346,000.

Several other large investors also recently added to or reduced their stakes in CNC. Park Place Capital Corp boosted its holdings in Centene by 1,190.0% in the 3rd quarter. Park Place Capital Corp now owns 387 shares of the company's stock worth $29,000 after buying an additional 357 shares during the period. Private Trust Co. NA lifted its holdings in shares of Centene by 75.3% in the 3rd quarter. Private Trust Co. NA now owns 773 shares of the company's stock worth $58,000 after acquiring an additional 332 shares during the last quarter. True Wealth Design LLC purchased a new stake in shares of Centene in the 3rd quarter valued at $66,000. Venturi Wealth Management LLC grew its holdings in shares of Centene by 77.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,163 shares of the company's stock valued at $88,000 after purchasing an additional 507 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Centene by 104.8% in the second quarter. EverSource Wealth Advisors LLC now owns 1,231 shares of the company's stock worth $82,000 after purchasing an additional 630 shares during the last quarter. Hedge funds and other institutional investors own 93.63% of the company's stock.

Centene Stock Down 1.1 %

Centene stock traded down $0.68 on Friday, hitting $62.19. 4,387,651 shares of the stock traded hands, compared to its average volume of 5,481,287. The business's fifty day simple moving average is $60.12 and its 200 day simple moving average is $67.33. The firm has a market cap of $31.40 billion, a P/E ratio of 10.80, a price-to-earnings-growth ratio of 0.83 and a beta of 0.45. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64. Centene Co. has a 1 year low of $55.03 and a 1 year high of $81.42.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CNC. Robert W. Baird lowered their target price on Centene from $83.00 to $66.00 and set a "neutral" rating for the company in a research note on Friday, October 25th. Sanford C. Bernstein decreased their target price on shares of Centene from $96.00 to $88.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 30th. Barclays increased their price target on shares of Centene from $91.00 to $93.00 and gave the company an "overweight" rating in a research report on Friday, December 13th. StockNews.com downgraded shares of Centene from a "strong-buy" rating to a "buy" rating in a research note on Monday, October 28th. Finally, Oppenheimer cut their target price on Centene from $95.00 to $85.00 and set an "outperform" rating on the stock in a research note on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $80.92.

Insider Activity at Centene

In related news, Director Thomas Greco bought 17,000 shares of the business's stock in a transaction dated Wednesday, December 18th. The shares were purchased at an average cost of $59.75 per share, with a total value of $1,015,750.00. Following the completion of the purchase, the director now owns 19,309 shares in the company, valued at approximately $1,153,712.75. The trade was a 736.25 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sarah London purchased 4,117 shares of the stock in a transaction dated Friday, November 8th. The stock was bought at an average cost of $60.80 per share, with a total value of $250,313.60. Following the transaction, the chief executive officer now owns 667,229 shares in the company, valued at $40,567,523.20. The trade was a 0.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 45,010 shares of company stock valued at $2,660,276 in the last three months. Company insiders own 0.33% of the company's stock.

About Centene

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.