Centene Co. (NYSE:CNC) Stock Holdings Lessened by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its position in shares of Centene Co. (NYSE:CNC - Free Report) by 14.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 615,939 shares of the company's stock after selling 103,571 shares during the period. Retirement Systems of Alabama owned approximately 0.12% of Centene worth $46,368,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Harris Associates L P lifted its position in shares of Centene by 5.7% during the third quarter. Harris Associates L P now owns 26,314,183 shares of the company's stock worth $1,980,932,000 after purchasing an additional 1,420,825 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Centene by 22.9% during the 2nd quarter. AQR Capital Management LLC now owns 4,461,517 shares of the company's stock worth $295,799,000 after buying an additional 832,318 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Centene by 14.2% in the 2nd quarter. Legal & General Group Plc now owns 5,113,759 shares of the company's stock valued at $339,042,000 after acquiring an additional 636,683 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in shares of Centene by 15.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 3,203,049 shares of the company's stock valued at $241,126,000 after acquiring an additional 428,100 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in Centene by 42.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 1,400,276 shares of the company's stock worth $92,838,000 after purchasing an additional 416,003 shares during the period. Institutional investors and hedge funds own 93.63% of the company's stock.

Insider Transactions at Centene

In related news, CFO Andrew Lynn Asher bought 17,200 shares of the firm's stock in a transaction that occurred on Wednesday, November 13th. The shares were acquired at an average cost of $58.14 per share, for a total transaction of $1,000,008.00. Following the acquisition, the chief financial officer now directly owns 486,847 shares of the company's stock, valued at $28,305,284.58. The trade was a 3.66 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Sarah London bought 4,117 shares of Centene stock in a transaction dated Friday, November 8th. The shares were bought at an average cost 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 of the company's stock, 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. Company insiders own 0.33% of the company's stock.

Centene Price Performance

NYSE:CNC traded up $1.42 during midday trading on Friday, hitting $59.42. 7,063,954 shares of the stock were exchanged, compared to its average volume of 4,099,720. The business has a 50-day moving average price of $62.02 and a two-hundred day moving average price of $68.62. 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 company has a market capitalization of $30.00 billion, a price-to-earnings ratio of 10.32, a P/E/G ratio of 0.78 and a beta of 0.46. Centene Co. has a one year low of $55.03 and a one year high of $81.42.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CNC. Robert W. Baird reduced their price target on shares of Centene from $83.00 to $66.00 and set a "neutral" rating on the stock in a research report on Friday, October 25th. Jefferies Financial Group downgraded Centene from a "hold" rating to an "underperform" rating and decreased their target price for the company from $68.00 to $52.00 in a research note on Tuesday. Stephens cut their price target on Centene from $75.00 to $73.00 and set an "equal weight" rating on the stock in a report on Friday. Barclays upped their price objective on Centene from $91.00 to $93.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, Oppenheimer reduced their price target on shares of Centene from $95.00 to $85.00 and set an "outperform" rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $81.31.

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.