The Manufacturers Life Insurance Company decreased its holdings in Centene Co. (NYSE:CNC - Free Report) by 10.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 371,511 shares of the company's stock after selling 43,477 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.07% of Centene worth $27,967,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Park Place Capital Corp grew its holdings 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 valued at $29,000 after purchasing an additional 357 shares during the period. WR Wealth Planners LLC increased its holdings 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 buying an additional 137 shares during the last quarter. Chris Bulman Inc purchased a new stake in shares of Centene during the 2nd quarter valued at approximately $33,000. Riverview Trust Co lifted its holdings in Centene by 154.6% in the second quarter. Riverview Trust Co now owns 527 shares of the company's stock valued at $35,000 after acquiring an additional 320 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Centene during the second quarter worth $36,000. 93.63% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Centene
In other news, CEO Sarah London acquired 4,117 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were purchased at an average cost of $60.80 per share, for a total transaction of $250,313.60. Following the transaction, 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Andrew Lynn Asher acquired 17,200 shares of the business's stock in a transaction on Wednesday, November 13th. The shares were purchased at an average price of $58.14 per share, with a total value of $1,000,008.00. Following the transaction, the chief financial officer now owns 486,847 shares in the company, valued at $28,305,284.58. The trade was a 3.66 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by company insiders.
Centene Stock Performance
Shares of Centene stock traded up $0.07 during trading on Friday, reaching $60.00. The company's stock had a trading volume of 2,380,159 shares, compared to its average volume of 4,044,423. The firm has a market cap of $30.29 billion, a PE ratio of 10.42, a P/E/G ratio of 0.82 and a beta of 0.49. The company has a 50-day moving average price of $65.11 and a two-hundred day moving average price of $69.88. 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 fifty-two week low of $57.20 and a fifty-two week high of $81.42.
Analyst Ratings Changes
Several equities analysts have recently commented on the company. StockNews.com cut Centene from a "strong-buy" rating to a "buy" rating in a report on Monday, October 28th. Stephens reiterated an "equal weight" rating and set a $78.00 price target on shares of Centene in a research report on Monday, August 5th. Robert W. Baird lowered their price objective on shares of Centene from $83.00 to $66.00 and set a "neutral" rating for the company in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft boosted their target price on Centene from $82.00 to $87.00 and gave the company a "hold" rating in a research report on Friday, August 2nd. Finally, Sanford C. Bernstein lowered their price target on Centene from $96.00 to $88.00 and set an "outperform" rating for the company in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Centene currently has an average rating of "Moderate Buy" and an average price target of $83.92.
Check Out Our Latest Stock Report on CNC
About Centene
(
Free Report)
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.
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