Centene Co. (NYSE:CNC) Shares Sold by Citigroup Inc.

Citigroup Inc. decreased its stake in Centene Co. (NYSE:CNC - Free Report) by 17.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 624,046 shares of the company's stock after selling 135,354 shares during the period. Citigroup Inc. owned 0.12% of Centene worth $46,978,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Park Place Capital Corp grew its position in shares of Centene by 1,190.0% during the third quarter. Park Place Capital Corp now owns 387 shares of the company's stock worth $29,000 after acquiring an additional 357 shares during the last quarter. WR Wealth Planners LLC increased its stake in shares of Centene by 41.4% in the second quarter. WR Wealth Planners LLC now owns 468 shares of the company's stock valued at $31,000 after purchasing an additional 137 shares during the period. Chris Bulman Inc acquired a new position in shares of Centene during the second quarter worth approximately $33,000. Riverview Trust Co increased its position in Centene by 154.6% in the 2nd 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 period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Centene during the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 93.63% of the company's stock.

Centene Trading Up 1.8 %

Shares of CNC traded up $1.06 during mid-day trading on Monday, reaching $61.43. The company's stock had a trading volume of 6,368,532 shares, compared to its average volume of 4,047,526. 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 52 week low of $57.20 and a 52 week high of $81.42. The company's fifty day moving average price is $66.68 and its two-hundred day moving average price is $70.43. The stock has a market cap of $31.01 billion, a PE ratio of 10.62, a P/E/G ratio of 0.83 and a beta of 0.49.

Insiders Place Their Bets

In related news, CEO Sarah London purchased 4,117 shares of the company's stock in a transaction that occurred on Friday, November 8th. The stock was bought at an average price of $60.80 per share, for a total transaction of $250,313.60. Following the completion of the transaction, the chief executive officer now owns 667,229 shares in the company, valued at approximately $40,567,523.20. The trade was a 0.62 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Andrew Lynn Asher acquired 17,200 shares of the business's stock in a transaction on Wednesday, November 13th. The stock was acquired at an average cost of $58.14 per share, for a total transaction of $1,000,008.00. Following the transaction, the chief financial officer now directly owns 486,847 shares in the company, valued at $28,305,284.58. The trade was a 3.66 % increase in their ownership of the stock. 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 equities research analysts recently commented on the company. 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. TD Cowen increased their price objective on Centene from $80.00 to $89.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. StockNews.com cut shares of Centene from a "strong-buy" rating to a "buy" rating in a report on Monday, October 28th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $90.00 target price on shares of Centene in a research note on Tuesday, October 1st. Finally, Stephens restated an "equal weight" rating and issued a $78.00 target price on shares of Centene in a report on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, Centene presently has an average rating of "Moderate Buy" and an average 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.