BNP Paribas Financial Markets Grows Stake in Centene Co. (NYSE:CNC)

BNP Paribas Financial Markets lifted its stake in Centene Co. (NYSE:CNC - Free Report) by 2.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 654,251 shares of the company's stock after buying an additional 18,066 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.13% of Centene worth $49,252,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. Park Place Capital Corp grew its holdings in Centene by 1,190.0% in the third quarter. Park Place Capital Corp now owns 387 shares of the company's stock valued at $29,000 after purchasing an additional 357 shares during the period. WR Wealth Planners LLC raised 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 worth $31,000 after purchasing an additional 137 shares during the last quarter. Chris Bulman Inc acquired a new stake in Centene in the 2nd quarter worth about $33,000. Riverview Trust Co increased 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 buying an additional 320 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Centene in the second quarter valued at approximately $36,000. 93.63% of the stock is owned by institutional investors and hedge funds.

Centene Stock Up 0.1 %

Shares of NYSE CNC traded up $0.08 during mid-day trading on Friday, reaching $60.01. The company had a trading volume of 2,380,159 shares, compared to its average volume of 4,044,423. Centene Co. has a 52-week low of $57.20 and a 52-week high of $81.42. The stock has a market cap of $30.30 billion, a P/E ratio of 10.42, a PEG ratio of 0.82 and a beta of 0.49. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64. The firm has a 50 day simple moving average of $65.43 and a two-hundred day simple moving average of $70.04.

Insiders Place Their Bets

In related news, CEO Sarah London bought 4,117 shares of the company's stock in a transaction dated Friday, November 8th. The shares were acquired at an average price of $60.80 per share, with a total value of $250,313.60. Following the completion of the acquisition, the chief executive officer now owns 667,229 shares in the company, valued at approximately $40,567,523.20. This trade represents a 0.62 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew Lynn Asher bought 17,200 shares of Centene stock in a transaction dated Wednesday, November 13th. The stock was purchased at an average price of $58.14 per share, with a total value of $1,000,008.00. Following the purchase, the chief financial officer now directly 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 disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CNC. Deutsche Bank Aktiengesellschaft boosted their target price on Centene from $82.00 to $87.00 and gave the stock a "hold" rating in a report on Friday, August 2nd. Stephens restated an "equal weight" rating and issued a $78.00 target price on shares of Centene in a report on Monday, August 5th. Barclays reduced their price target on shares of Centene from $97.00 to $91.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 29th. Sanford C. Bernstein reduced their price objective on Centene from $96.00 to $88.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $90.00 price target on shares of Centene in a report on Tuesday, October 1st. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $83.92.

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.