Pacer Advisors Inc. Acquires 25,792 Shares of Centene Co. (NYSE:CNC)

Pacer Advisors Inc. increased its holdings in shares of Centene Co. (NYSE:CNC - Free Report) by 49.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,174 shares of the company's stock after buying an additional 25,792 shares during the period. Pacer Advisors Inc.'s holdings in Centene were worth $4,736,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CNC. Park Place Capital Corp grew its stake in shares of Centene by 1,190.0% in the third quarter. Park Place Capital Corp now owns 387 shares of the company's stock worth $29,000 after purchasing an additional 357 shares during the last quarter. Private Trust Co. NA increased its stake in shares of Centene by 75.3% in the third quarter. Private Trust Co. NA now owns 773 shares of the company's stock valued at $58,000 after buying an additional 332 shares during the period. True Wealth Design LLC bought a new position in shares of Centene during the third quarter worth about $66,000. Venturi Wealth Management LLC lifted its stake in shares of Centene by 77.3% in the third quarter. Venturi Wealth Management LLC now owns 1,163 shares of the company's stock worth $88,000 after acquiring an additional 507 shares during the period. Finally, Cromwell Holdings LLC boosted its holdings in Centene by 588.0% in the third quarter. Cromwell Holdings LLC now owns 1,266 shares of the company's stock valued at $95,000 after acquiring an additional 1,082 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Stock Performance

Centene stock traded down $0.69 during mid-day trading on Friday, reaching $63.93. 2,585,037 shares of the company's stock were exchanged, compared to its average volume of 4,047,212. The business's fifty day simple moving average is $61.10 and its 200 day simple moving average is $67.17. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $32.28 billion, a PE ratio of 11.10, a P/E/G ratio of 0.85 and a beta of 0.45. Centene Co. has a one year low of $55.03 and a one year high of $81.42.

Analyst Upgrades and Downgrades

CNC has been the topic of a number of recent analyst reports. Jefferies Financial Group downgraded shares of Centene from a "hold" rating to an "underperform" rating and dropped their price target for the stock from $68.00 to $52.00 in a research report on Tuesday, December 10th. Stephens decreased their price target on Centene from $75.00 to $73.00 and set an "equal weight" rating for the company in a report on Friday, December 13th. StockNews.com raised Centene from a "buy" rating to a "strong-buy" rating in a research note on Monday. UBS Group raised Centene from a "neutral" rating to a "buy" rating and raised their target price for the stock from $79.00 to $80.00 in a research note on Friday, December 13th. Finally, Barclays increased their price target on Centene from $91.00 to $93.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Centene presently has an average rating of "Moderate Buy" and an average price target of $80.92.

Insider Activity

In other news, CFO Andrew Lynn Asher purchased 17,200 shares of the stock in a transaction on Wednesday, November 13th. The shares were acquired at an average price of $58.14 per share, for a total transaction of $1,000,008.00. Following the completion of the transaction, the chief financial officer now directly owns 486,847 shares of the company's stock, valued at approximately $28,305,284.58. This trade represents a 3.66 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sarah London purchased 4,117 shares of the firm's stock in a transaction on Friday, November 8th. The shares were acquired at an average cost of $60.80 per share, for a total transaction of $250,313.60. Following the completion of the purchase, the chief executive officer now directly owns 667,229 shares of the company's stock, 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. Insiders purchased 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.

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.