Freedom Investment Management Inc. Sells 12,272 Shares of Centene Co. (NYSE:CNC)

Freedom Investment Management Inc. decreased its stake in shares of Centene Co. (NYSE:CNC - Free Report) by 81.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,757 shares of the company's stock after selling 12,272 shares during the quarter. Freedom Investment Management Inc.'s holdings in Centene were worth $208,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Park Place Capital Corp raised its stake in Centene by 1,190.0% during the 3rd quarter. Park Place Capital Corp now owns 387 shares of the company's stock worth $29,000 after buying an additional 357 shares during the period. WR Wealth Planners LLC lifted its holdings 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 in the last quarter. Chris Bulman Inc acquired a new stake in Centene in the 2nd quarter valued at $33,000. Riverview Trust Co raised its holdings in Centene by 154.6% during the second quarter. Riverview Trust Co now owns 527 shares of the company's stock worth $35,000 after buying an additional 320 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Centene in the 2nd quarter valued at about $36,000. Institutional investors own 93.63% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on CNC. Sanford C. Bernstein lowered their price target on Centene from $96.00 to $88.00 and set an "outperform" rating for the company in a research report on Wednesday, October 30th. Stephens reiterated an "equal weight" rating and issued a $78.00 target price on shares of Centene in a report on Monday, August 5th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $90.00 price objective on shares of Centene in a research report on Tuesday, October 1st. StockNews.com cut shares of Centene from a "strong-buy" rating to a "buy" rating in a research report on Monday, October 28th. Finally, Robert W. Baird reduced their target price on Centene from $83.00 to $66.00 and set a "neutral" rating for the company in a report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $83.92.

Centene Price Performance

Shares of Centene stock traded up $0.06 on Monday, reaching $60.06. The stock had a trading volume of 3,895,481 shares, compared to its average volume of 4,043,780. The business's 50 day moving average is $65.11 and its two-hundred day moving average is $69.82. The company has a market cap of $30.32 billion, a P/E ratio of 10.42, a price-to-earnings-growth ratio of 0.82 and a beta of 0.49. Centene Co. has a 1 year low of $57.20 and a 1 year 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.

Insiders Place Their Bets

In related news, CFO Andrew Lynn Asher bought 17,200 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The stock was bought at an average cost of $58.14 per share, for a total transaction of $1,000,008.00. Following the completion of the transaction, the chief financial officer now owns 486,847 shares of the company's stock, valued at approximately $28,305,284.58. The trade was a 3.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sarah London purchased 4,117 shares of the company's stock in a transaction on Friday, November 8th. The shares were purchased at an average cost 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 approximately $40,567,523.20. The trade was a 0.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company's stock.

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.