Cornercap Investment Counsel Inc. Has $1.44 Million Position in Centene Co. (NYSE:CNC)

Cornercap Investment Counsel Inc. reduced its position in Centene Co. (NYSE:CNC - Free Report) by 38.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,138 shares of the company's stock after selling 11,861 shares during the period. Cornercap Investment Counsel Inc.'s holdings in Centene were worth $1,441,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Swedbank AB acquired a new position in shares of Centene in the first quarter valued at about $914,080,000. Capital International Investors raised its position in shares of Centene by 60.2% in the first quarter. Capital International Investors now owns 5,216,486 shares of the company's stock worth $409,390,000 after acquiring an additional 1,959,460 shares during the period. AQR Capital Management LLC grew its position in shares of Centene by 22.9% during the 2nd quarter. AQR Capital Management LLC now owns 4,461,517 shares of the company's stock valued at $295,799,000 after acquiring an additional 832,318 shares during the period. Legal & General Group Plc grew its holdings in Centene by 14.2% in the second quarter. Legal & General Group Plc now owns 5,113,759 shares of the company's stock valued at $339,042,000 after purchasing an additional 636,683 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ increased its position in shares of Centene by 42.3% during the 2nd 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 last quarter. Institutional investors and hedge funds own 93.63% of the company's stock.

Wall Street Analysts Forecast Growth

CNC has been the topic of a number of research analyst reports. Wells Fargo & Company cut their price objective on shares of Centene from $91.00 to $90.00 and set an "overweight" rating on the stock in a report on Monday, November 4th. Oppenheimer lowered their price objective on Centene from $110.00 to $95.00 and set an "outperform" rating on the stock in a report on Monday, July 29th. Jefferies Financial Group downgraded Centene from a "buy" rating to a "hold" rating and reduced their target price for the company from $83.00 to $69.00 in a report on Wednesday, July 24th. 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. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Centene from $82.00 to $87.00 and gave the company a "hold" rating in a report on Friday, August 2nd. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, Centene currently has an average rating of "Moderate Buy" and a consensus price target of $83.92.

Insider Activity at Centene

In other Centene news, CFO Andrew Lynn Asher bought 17,200 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was acquired at an average cost of $58.14 per share, with a total value of $1,000,008.00. Following the purchase, the chief financial officer now owns 486,847 shares in the company, valued at $28,305,284.58. This trade represents a 3.66 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sarah London acquired 4,117 shares of the business's stock in a transaction that occurred on Friday, November 8th. The stock was bought at an average cost of $60.80 per share, for a total transaction of $250,313.60. Following the completion of the transaction, the chief executive officer now directly owns 667,229 shares in the company, valued at $40,567,523.20. This represents a 0.62 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is owned by company insiders.

Centene Stock Down 2.1 %

CNC stock traded down $1.22 during trading hours on Friday, hitting $57.46. The company's stock had a trading volume of 7,982,857 shares, compared to its average volume of 4,000,882. The company has a market capitalization of $29.01 billion, a PE ratio of 10.24, a price-to-earnings-growth ratio of 0.80 and a beta of 0.49. The stock has a 50 day moving average price of $68.33 and a two-hundred day moving average price of $71.12. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64. Centene Co. has a 12 month low of $57.25 and a 12 month high of $81.42.

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.