Fmr LLC Has $1.85 Billion Stake in Centene Co. (NYSE:CNC)

FMR LLC lowered its holdings in shares of Centene Co. (NYSE:CNC - Free Report) by 30.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,570,510 shares of the company's stock after selling 10,509,701 shares during the period. FMR LLC owned about 4.87% of Centene worth $1,849,668,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CNC. Park Place Capital Corp increased its stake in Centene by 1,190.0% in the third quarter. Park Place Capital Corp now owns 387 shares of the company's stock valued at $29,000 after acquiring an additional 357 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 purchasing an additional 137 shares during the period. Chris Bulman Inc bought a new position in shares of Centene during the 2nd quarter worth approximately $33,000. Riverview Trust Co boosted its stake 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 buying an additional 320 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Centene in the second quarter valued at $36,000. Institutional investors own 93.63% of the company's stock.

Centene Trading Down 0.1 %

Shares of Centene stock traded down $0.08 on Wednesday, hitting $59.92. 3,468,373 shares of the company's stock traded hands, compared to its average volume of 4,051,659. Centene Co. has a one year low of $57.20 and a one year high of $81.42. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market capitalization of $30.25 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 0.84 and a beta of 0.49. The firm's 50-day moving average price is $65.74 and its two-hundred day moving average price is $70.12.

Insider Activity at Centene

In other Centene news, CEO Sarah London acquired 4,117 shares of the company's stock in a transaction that occurred on Friday, November 8th. The shares were acquired at an average price of $60.80 per share, with a total value of $250,313.60. Following the purchase, the chief executive officer now owns 667,229 shares of the company's stock, valued at $40,567,523.20. This represents a 0.62 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew Lynn Asher bought 17,200 shares of the firm's stock in a transaction 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 completion of the purchase, the chief financial officer now owns 486,847 shares of the company's stock, valued at approximately $28,305,284.58. This trade represents a 3.66 % increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on CNC. StockNews.com downgraded shares of Centene from a "strong-buy" rating to a "buy" rating in a research note on Monday, October 28th. Cantor Fitzgerald restated an "overweight" rating and issued a $90.00 price target on shares of Centene in a research report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Centene from $82.00 to $87.00 and gave the stock a "hold" rating in a report on Friday, August 2nd. Barclays reduced their target price on Centene from $97.00 to $91.00 and set an "overweight" rating on the stock in a report on Tuesday, October 29th. Finally, TD Cowen raised their price target on Centene from $80.00 to $89.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.