Empowered Funds LLC Raises Stake in Centene Co. (NYSE:CNC)

Empowered Funds LLC boosted its holdings in shares of Centene Co. (NYSE:CNC - Free Report) by 10.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 238,456 shares of the company's stock after purchasing an additional 22,606 shares during the period. Empowered Funds LLC's holdings in Centene were worth $17,951,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CNC. Swedbank AB bought a new stake in shares of Centene in the 1st quarter valued at about $914,080,000. Capital International Investors increased its position in Centene by 60.2% during the 1st quarter. Capital International Investors now owns 5,216,486 shares of the company's stock valued at $409,390,000 after purchasing an additional 1,959,460 shares during the period. AQR Capital Management LLC lifted its position in shares of Centene by 22.9% in the 2nd quarter. AQR Capital Management LLC now owns 4,461,517 shares of the company's stock worth $295,799,000 after purchasing an additional 832,318 shares during the period. Legal & General Group Plc boosted its stake in shares of Centene by 14.2% in the 2nd 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 last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its position in shares of Centene by 42.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 1,400,276 shares of the company's stock worth $92,838,000 after buying an additional 416,003 shares during the period. Institutional investors and hedge funds own 93.63% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on CNC shares. TD Cowen raised their target price on Centene from $80.00 to $89.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft boosted their price objective on Centene from $82.00 to $87.00 and gave the stock a "hold" rating in a report on Friday, August 2nd. Jefferies Financial Group lowered shares of Centene from a "buy" rating to a "hold" rating and dropped their price target for the company from $83.00 to $69.00 in a research report on Wednesday, July 24th. StockNews.com cut Centene from a "strong-buy" rating to a "buy" rating in a research report on Monday, October 28th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $90.00 target price on shares of Centene in a research note on Tuesday, October 1st. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Centene presently has a consensus rating of "Moderate Buy" and an average target price of $83.92.

Centene Stock Down 2.1 %

NYSE:CNC traded down $1.23 on Friday, reaching $57.45. 8,033,064 shares of the stock traded hands, compared to its average volume of 4,001,105. The company's fifty day simple moving average is $68.33 and its 200 day simple moving average is $71.12. Centene Co. has a 12 month low of $57.25 and a 12 month 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 company has a market capitalization of $29.00 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 0.80 and a beta of 0.49.

Insider Activity at Centene

In related news, CFO Andrew Lynn Asher bought 17,200 shares of the business's 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 transaction, the chief financial officer now owns 486,847 shares in the company, valued at approximately $28,305,284.58. This trade represents a 3.66 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible 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 purchased at an average cost of $60.80 per share, with a total value of $250,313.60. Following the acquisition, the chief executive officer now directly owns 667,229 shares of the company's stock, valued at $40,567,523.20. This trade represents a 0.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by insiders.

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.