Principal Financial Group Inc. Has $46.80 Million Holdings in Centene Co. (NYSE:CNC)

Principal Financial Group Inc. grew its position in shares of Centene Co. (NYSE:CNC - Free Report) by 3.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 621,664 shares of the company's stock after buying an additional 22,233 shares during the quarter. Principal Financial Group Inc. owned approximately 0.12% of Centene worth $46,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Harris Associates L P grew its position in Centene by 5.7% in the third quarter. Harris Associates L P now owns 26,314,183 shares of the company's stock worth $1,980,932,000 after acquiring an additional 1,420,825 shares in the last quarter. State Street Corp boosted its holdings in Centene by 0.5% in the third quarter. State Street Corp now owns 23,468,159 shares of the company's stock worth $1,766,683,000 after purchasing an additional 111,654 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Centene by 3.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,768,534 shares of the company's stock valued at $434,255,000 after buying an additional 194,566 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Centene by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 5,491,968 shares of the company's stock worth $364,117,000 after buying an additional 25,595 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Centene by 14.2% during the 2nd quarter. Legal & General Group Plc now owns 5,113,759 shares of the company's stock worth $339,042,000 after acquiring an additional 636,683 shares in the last quarter. Institutional investors own 93.63% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CNC shares. Oppenheimer reduced their target price on Centene from $95.00 to $85.00 and set an "outperform" rating for the company in a report on Friday, December 13th. UBS Group upgraded shares of Centene from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $79.00 to $80.00 in a research note on Friday, December 13th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $90.00 target price on shares of Centene in a report on Wednesday, December 11th. StockNews.com downgraded Centene from a "strong-buy" rating to a "buy" rating in a research report on Monday, October 28th. Finally, Truist Financial cut their price objective on Centene from $89.00 to $84.00 and set a "buy" rating for the company in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, Centene currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.92.

Insider Buying and Selling

In related news, CFO Andrew Lynn Asher acquired 17,200 shares of the firm's stock in a transaction on Wednesday, November 13th. The shares were purchased at an average price of $58.14 per share, with a total value of $1,000,008.00. Following the acquisition, 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 purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sarah London purchased 4,117 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was bought 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 owns 667,229 shares of the company's stock, valued at $40,567,523.20. This represents a 0.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 45,010 shares of company stock worth $2,660,276 in the last 90 days. 0.33% of the stock is owned by company insiders.

Centene Price Performance

NYSE:CNC traded up $0.67 during mid-day trading on Monday, hitting $60.25. The company's stock had a trading volume of 4,146,653 shares, compared to its average volume of 4,267,147. The company has a market capitalization of $30.42 billion, a price-to-earnings ratio of 10.46, a P/E/G ratio of 0.78 and a beta of 0.46. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64. Centene Co. has a fifty-two week low of $55.03 and a fifty-two week high of $81.42. The stock has a fifty day moving average of $60.75 and a 200-day moving average of $68.19.

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.