Sanctuary Advisors LLC Acquires 9,287 Shares of Centene Co. (NYSE:CNC)

Sanctuary Advisors LLC grew its holdings in Centene Co. (NYSE:CNC - Free Report) by 18.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,155 shares of the company's stock after purchasing an additional 9,287 shares during the period. Sanctuary Advisors LLC's holdings in Centene were worth $4,528,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Virtu Financial LLC acquired a new stake in shares of Centene in the 3rd quarter valued at $844,000. TD Private Client Wealth LLC raised its position in Centene by 5.7% in the third quarter. TD Private Client Wealth LLC now owns 9,229 shares of the company's stock worth $695,000 after purchasing an additional 501 shares in the last quarter. Fortem Financial Group LLC boosted its stake in shares of Centene by 35.3% in the 3rd quarter. Fortem Financial Group LLC now owns 8,345 shares of the company's stock valued at $628,000 after purchasing an additional 2,175 shares in the last quarter. Gould Capital LLC increased its position in shares of Centene by 2.7% during the 3rd quarter. Gould Capital LLC now owns 14,400 shares of the company's stock worth $1,084,000 after purchasing an additional 372 shares in the last quarter. Finally, Vestcor Inc boosted its position in Centene by 9.3% in the third quarter. Vestcor Inc now owns 13,515 shares of the company's stock valued at $1,017,000 after buying an additional 1,150 shares in the last quarter. 93.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CNC. Truist Financial decreased their target price on Centene from $89.00 to $84.00 and set a "buy" rating on the stock in a report on Friday. Sanford C. Bernstein dropped their target price on shares of Centene from $96.00 to $88.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. UBS Group raised shares of Centene from a "neutral" rating to a "buy" rating and raised their price target for the company from $79.00 to $80.00 in a report on Friday. Stephens decreased their price objective on Centene from $75.00 to $73.00 and set an "equal weight" rating on the stock in a research report on Friday. Finally, StockNews.com lowered Centene from a "strong-buy" rating to a "buy" rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $81.31.

Insider Buying and Selling

In other Centene news, CFO Andrew Lynn Asher purchased 17,200 shares of the firm's stock in a transaction on Wednesday, November 13th. The stock was purchased at an average cost of $58.14 per share, for a total transaction of $1,000,008.00. Following the acquisition, the chief financial officer now owns 486,847 shares in the company, valued at approximately $28,305,284.58. The trade was a 3.66 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sarah London acquired 4,117 shares of the business's stock in a transaction dated Friday, November 8th. The shares were bought at an average cost of $60.80 per share, for a total transaction of $250,313.60. Following the transaction, the chief executive officer now directly owns 667,229 shares in the company, valued at approximately $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. 0.33% of the stock is owned by insiders.

Centene Stock Performance

Shares of Centene stock traded down $0.25 during trading on Monday, hitting $59.17. 5,987,130 shares of the stock were exchanged, compared to its average volume of 4,107,447. Centene Co. has a 1-year low of $55.03 and a 1-year high of $81.42. The stock has a market capitalization of $29.87 billion, a price-to-earnings ratio of 10.32, a price-to-earnings-growth ratio of 0.78 and a beta of 0.46. The company has a fifty day moving average price of $62.02 and a 200-day moving average price of $68.58. 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 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.