Cypress Capital Group Lowers Stock Position in Centene Co. (NYSE:CNC)

Cypress Capital Group trimmed its holdings in Centene Co. (NYSE:CNC - Free Report) by 69.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,120 shares of the company's stock after selling 9,490 shares during the quarter. Cypress Capital Group's holdings in Centene were worth $310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. EP Wealth Advisors LLC lifted its position in shares of Centene by 1.0% during the 1st quarter. EP Wealth Advisors LLC now owns 13,604 shares of the company's stock valued at $1,068,000 after acquiring an additional 133 shares during the period. WR Wealth Planners LLC grew its stake in shares of Centene by 41.4% in the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company's stock valued at $31,000 after buying an additional 137 shares during the period. Whittier Trust Co. raised its stake in Centene by 10.0% during the 2nd quarter. Whittier Trust Co. now owns 1,562 shares of the company's stock worth $104,000 after buying an additional 142 shares during the period. Mount Yale Investment Advisors LLC boosted its holdings in Centene by 2.1% in the third quarter. Mount Yale Investment Advisors LLC now owns 8,082 shares of the company's stock worth $608,000 after acquiring an additional 167 shares in the last quarter. Finally, Meridian Management Co. grew its stake in Centene by 0.3% in the second quarter. Meridian Management Co. now owns 64,721 shares of the company's stock valued at $4,291,000 after acquiring an additional 189 shares during the period. Institutional investors own 93.63% of the company's stock.

Centene Stock Performance

Shares of CNC stock traded up $0.02 during trading hours on Friday, hitting $60.37. 4,102,533 shares of the company were exchanged, compared to its average volume of 4,037,300. Centene Co. has a 52-week low of $57.20 and a 52-week high of $81.42. 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 firm has a fifty day simple moving average of $66.68 and a 200 day simple moving average of $70.50. The stock has a market capitalization of $30.48 billion, a price-to-earnings ratio of 10.48, a P/E/G ratio of 0.79 and a beta of 0.49.

Insider Activity

In related news, CFO Andrew Lynn Asher bought 17,200 shares of Centene stock in a transaction on Wednesday, November 13th. The stock was acquired at an average price of $58.14 per share, with a total value 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. This represents a 3.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sarah London purchased 4,117 shares of the stock in a transaction dated Friday, November 8th. The stock was purchased at an average cost of $60.80 per share, for a total transaction 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 approximately $40,567,523.20. This represents a 0.62 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CNC. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Centene from $82.00 to $87.00 and gave the company a "hold" rating in a research report on Friday, August 2nd. Barclays lowered their target price on shares of Centene from $97.00 to $91.00 and set an "overweight" rating on the stock in a report on Tuesday, October 29th. Sanford C. Bernstein cut their price target on Centene from $96.00 to $88.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. Wells Fargo & Company lowered their price objective on Centene from $91.00 to $90.00 and set an "overweight" rating for the company in a research note on Monday, November 4th. Finally, Robert W. Baird decreased their price target on Centene from $83.00 to $66.00 and set a "neutral" rating for the company in a report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Centene currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.92.

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.