Bank of Montreal Can Raises Stock Holdings in Centene Co. (NYSE:CNC)

Bank of Montreal Can grew its position in Centene Co. (NYSE:CNC - Free Report) by 9.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,002,085 shares of the company's stock after buying an additional 87,334 shares during the period. Bank of Montreal Can owned approximately 0.20% of Centene worth $74,736,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CNC. Park Place Capital Corp boosted its position in shares of Centene by 1,190.0% during the 3rd quarter. Park Place Capital Corp now owns 387 shares of the company's stock valued at $29,000 after acquiring an additional 357 shares during the last quarter. WR Wealth Planners LLC grew its position in shares of Centene by 41.4% during the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company's stock valued at $31,000 after acquiring an additional 137 shares during the period. Chris Bulman Inc purchased a new stake in shares of Centene during the second quarter worth about $33,000. Riverview Trust Co boosted its stake in Centene by 154.6% during the 2nd quarter. Riverview Trust Co now owns 527 shares of the company's stock worth $35,000 after purchasing an additional 320 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Centene in the 2nd quarter worth $36,000. Hedge funds and other institutional investors own 93.63% of the company's stock.

Centene Stock Down 0.1 %

Shares of NYSE:CNC traded down $0.08 during midday trading on Wednesday, hitting $59.92. 3,468,373 shares of the company's stock were exchanged, compared to its average volume of 4,051,659. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a 50 day moving average price of $65.74 and a 200-day moving average price of $70.12. The company has a market cap of $30.25 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 0.84 and a beta of 0.49. Centene Co. has a 12 month low of $57.20 and a 12 month high of $81.42.

Analyst Ratings Changes

Several research analysts have commented on the stock. TD Cowen boosted their price target on shares of Centene from $80.00 to $89.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Barclays decreased their target price on shares of Centene from $97.00 to $91.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 29th. Sanford C. Bernstein decreased their price target on Centene from $96.00 to $88.00 and set an "outperform" rating for the company in a report on Wednesday, October 30th. Stephens reiterated an "equal weight" rating and issued a $78.00 target price on shares of Centene in a research report on Monday, August 5th. Finally, Robert W. Baird cut their price target on Centene from $83.00 to $66.00 and set a "neutral" rating on the stock in a report on Friday, October 25th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $83.92.

Insider Activity

In related news, CFO Andrew Lynn Asher purchased 17,200 shares of the business's stock in a transaction dated Wednesday, November 13th. The shares were purchased at an average cost of $58.14 per share, for a total transaction of $1,000,008.00. Following the completion of the acquisition, the chief financial officer now owns 486,847 shares in the company, valued at approximately $28,305,284.58. This trade represents a 3.66 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Sarah London purchased 4,117 shares of the stock in a transaction dated Friday, November 8th. The stock was purchased at an average price of $60.80 per share, for a total transaction of $250,313.60. Following the completion of the acquisition, the chief executive officer now directly owns 667,229 shares in the company, valued at approximately $40,567,523.20. This represents a 0.62 % increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is owned by corporate insiders.

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.