KBC Group NV Sells 973,653 Shares of Centene Co. (NYSE:CNC)

KBC Group NV decreased its holdings in shares of Centene Co. (NYSE:CNC - Free Report) by 43.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,258,974 shares of the company's stock after selling 973,653 shares during the quarter. KBC Group NV owned approximately 0.25% of Centene worth $94,775,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Swedbank AB bought a new position in Centene during the first quarter valued at about $914,080,000. Capital International Investors increased its holdings in shares of 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 acquiring an additional 1,959,460 shares during the last quarter. AQR Capital Management LLC raised its stake 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 valued at $295,799,000 after acquiring an additional 832,318 shares in the last quarter. Legal & General Group Plc boosted its position in Centene by 14.2% during the second quarter. Legal & General Group Plc now owns 5,113,759 shares of the company's stock worth $339,042,000 after purchasing an additional 636,683 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in Centene by 42.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 1,400,276 shares of the company's stock valued at $92,838,000 after purchasing an additional 416,003 shares during the last quarter. Institutional investors own 93.63% of the company's stock.

Centene Stock Performance

Centene stock traded up $0.88 on Thursday, hitting $58.92. The company's stock had a trading volume of 3,432,903 shares, compared to its average volume of 3,967,381. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64. The company has a fifty day moving average price of $68.61 and a 200-day moving average price of $71.21. Centene Co. has a one year low of $57.56 and a one year high of $81.42. The firm has a market cap of $29.75 billion, a P/E ratio of 10.08, a price-to-earnings-growth ratio of 0.80 and a beta of 0.49.

Insider Buying and Selling

In related news, CFO Andrew Lynn Asher purchased 17,200 shares of the stock in a transaction on Wednesday, November 13th. The shares were purchased 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 directly owns 486,847 shares of the company's stock, valued at approximately $28,305,284.58. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Andrew Lynn Asher purchased 17,200 shares of Centene stock in a transaction on Wednesday, November 13th. The shares were purchased 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 directly owns 486,847 shares in the company, valued at approximately $28,305,284.58. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sarah London bought 4,117 shares of the business's stock in a transaction dated Friday, November 8th. The stock was purchased 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 directly owns 667,229 shares of the company's stock, valued at $40,567,523.20. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

CNC has been the subject of several recent analyst reports. TD Cowen upped their price objective on shares of Centene from $80.00 to $89.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Sanford C. Bernstein decreased their price target on shares of Centene from $96.00 to $88.00 and set an "outperform" rating for the company in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on Centene from $82.00 to $87.00 and gave the stock a "hold" rating in a research note on Friday, August 2nd. StockNews.com downgraded Centene from a "strong-buy" rating to a "buy" rating in a research note on Monday, October 28th. Finally, Oppenheimer cut their price target on Centene from $110.00 to $95.00 and set an "outperform" rating for the company in a report on Monday, July 29th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus 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.