Quantbot Technologies LP Sells 131,648 Shares of Centene Co. (NYSE:CNC)

Quantbot Technologies LP cut its position in Centene Co. (NYSE:CNC - Free Report) by 81.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,932 shares of the company's stock after selling 131,648 shares during the period. Quantbot Technologies LP's holdings in Centene were worth $2,329,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CNC. WR Wealth Planners LLC lifted its holdings in Centene by 41.4% during the second quarter. WR Wealth Planners LLC now owns 468 shares of the company's stock worth $31,000 after acquiring an additional 137 shares in the last quarter. Whittier Trust Co. raised its position in shares of Centene by 10.0% during the second quarter. Whittier Trust Co. now owns 1,562 shares of the company's stock worth $104,000 after purchasing an additional 142 shares during the period. Mount Yale Investment Advisors LLC grew its position in shares of Centene by 2.1% in the 3rd quarter. Mount Yale Investment Advisors LLC now owns 8,082 shares of the company's stock valued at $608,000 after purchasing an additional 167 shares during the period. Meridian Management Co. increased its stake in Centene by 0.3% during the 2nd quarter. Meridian Management Co. now owns 64,721 shares of the company's stock worth $4,291,000 after purchasing an additional 189 shares in the last quarter. Finally, E Fund Management Co. Ltd. raised its holdings in Centene by 6.4% during the 2nd quarter. E Fund Management Co. Ltd. now owns 3,309 shares of the company's stock worth $219,000 after buying an additional 199 shares during the period. 93.63% of the stock is owned by institutional investors.

Insider Activity at Centene

In other Centene news, CEO Sarah London purchased 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, for a total transaction of $250,313.60. Following the purchase, the chief executive officer now owns 667,229 shares in the company, valued at approximately $40,567,523.20. The trade was a 0.62 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Andrew Lynn Asher acquired 17,200 shares of the firm's stock in a transaction on Wednesday, November 13th. The stock was bought at an average price of $58.14 per share, for a total transaction of $1,000,008.00. Following the completion of the acquisition, 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 disclosure for this purchase can be found here. 0.33% of the stock is currently owned by company insiders.

Centene Stock Performance

CNC stock traded up $0.07 during trading hours on Friday, reaching $60.00. The stock had a trading volume of 2,380,159 shares, compared to its average volume of 4,044,423. The stock has a market capitalization of $30.29 billion, a PE ratio of 10.42, a price-to-earnings-growth ratio of 0.82 and a beta of 0.49. The stock has a 50-day simple moving average of $65.43 and a 200 day simple moving average of $70.04. Centene Co. has a fifty-two week low of $57.20 and a fifty-two week 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.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CNC shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Centene from $82.00 to $87.00 and gave the stock a "hold" rating in a research report on Friday, August 2nd. Sanford C. Bernstein dropped their price target on Centene from $96.00 to $88.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 30th. StockNews.com cut Centene from a "strong-buy" rating to a "buy" rating in a research report on Monday, October 28th. Barclays dropped their target price on Centene from $97.00 to $91.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 29th. Finally, Stephens reaffirmed an "equal weight" rating and set a $78.00 price target on shares of Centene in a research report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $83.92.

Centene 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.