Dai ichi Life Insurance Company Ltd Boosts Stock Position in Centene Co. (NYSE:CNC)

Dai ichi Life Insurance Company Ltd grew its position in Centene Co. (NYSE:CNC - Free Report) by 820.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 37,020 shares of the company's stock after buying an additional 33,000 shares during the period. Dai ichi Life Insurance Company Ltd's holdings in Centene were worth $2,787,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. WR Wealth Planners LLC boosted its position in shares of Centene by 41.4% in the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company's stock worth $31,000 after purchasing an additional 137 shares during the last quarter. Whittier Trust Co. lifted its holdings in Centene by 10.0% during the second quarter. Whittier Trust Co. now owns 1,562 shares of the company's stock worth $104,000 after acquiring an additional 142 shares in the last quarter. Mount Yale Investment Advisors LLC lifted its holdings in Centene by 2.1% during 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. Meridian Management Co. lifted its holdings in Centene by 0.3% during the second quarter. Meridian Management Co. now owns 64,721 shares of the company's stock worth $4,291,000 after acquiring an additional 189 shares in the last quarter. Finally, E Fund Management Co. Ltd. lifted its holdings in shares of Centene by 6.4% in the second quarter. E Fund Management Co. Ltd. now owns 3,309 shares of the company's stock valued at $219,000 after purchasing an additional 199 shares in the last quarter. 93.63% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Centene

In other Centene news, CEO Sarah London purchased 4,117 shares of the stock in a transaction on Friday, November 8th. The stock was acquired at an average price of $60.80 per share, with a total value of $250,313.60. Following the transaction, the chief executive officer now directly owns 667,229 shares of the company's stock, valued at approximately $40,567,523.20. This trade represents a 0.62 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew Lynn Asher purchased 17,200 shares of the stock in a transaction on Wednesday, November 13th. The shares were acquired at an average cost of $58.14 per share, with a total value 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. 0.29% of the stock is owned by corporate insiders.

Centene Stock Performance

Centene stock traded down $0.07 during mid-day trading on Thursday, reaching $59.93. The company's stock had a trading volume of 3,468,386 shares, compared to its average volume of 4,051,659. Centene Co. has a 12-month low of $57.20 and a 12-month high of $81.42. The company has a market capitalization of $30.26 billion, a P/E ratio of 10.40, a PEG ratio of 0.84 and a beta of 0.49. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.10 and a current ratio of 1.10. The firm's fifty day moving average price is $65.43 and its two-hundred day moving average price is $70.04.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CNC shares. Robert W. Baird cut their price target on Centene from $83.00 to $66.00 and set a "neutral" rating on the stock in a report on Friday, October 25th. StockNews.com downgraded Centene from a "strong-buy" rating to a "buy" rating in a research report on Monday, October 28th. Sanford C. Bernstein decreased their target price on Centene from $96.00 to $88.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 30th. TD Cowen boosted their price target on Centene from $80.00 to $89.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Centene from $82.00 to $87.00 and gave the stock a "hold" rating in a research note on Friday, August 2nd. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.92.

Centene Company 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.