Centene Co. (NYSE:CNC) Shares Bought by Washington Capital Management Inc.

Washington Capital Management Inc. lifted its position in shares of Centene Co. (NYSE:CNC - Free Report) by 40.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,130 shares of the company's stock after purchasing an additional 5,550 shares during the period. Centene accounts for approximately 0.9% of Washington Capital Management Inc.'s investment portfolio, making the stock its 17th biggest holding. Washington Capital Management Inc.'s holdings in Centene were worth $1,159,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Park Place Capital Corp increased its position in Centene by 1,190.0% during the 3rd quarter. Park Place Capital Corp now owns 387 shares of the company's stock valued at $29,000 after purchasing an additional 357 shares during the period. Private Trust Co. NA boosted its position in Centene by 75.3% during the third quarter. Private Trust Co. NA now owns 773 shares of the company's stock valued at $58,000 after acquiring an additional 332 shares during the last quarter. True Wealth Design LLC acquired a new stake in Centene during the 3rd quarter worth about $66,000. R Squared Ltd acquired a new position in shares of Centene during the 4th quarter valued at $82,000. Finally, Venturi Wealth Management LLC increased its holdings in shares of Centene by 77.3% during the third quarter. Venturi Wealth Management LLC now owns 1,163 shares of the company's stock valued at $88,000 after acquiring an additional 507 shares in the last quarter. 93.63% of the stock is owned by institutional investors and hedge funds.

Centene Stock Performance

Shares of Centene stock traded up $0.75 during midday trading on Thursday, hitting $64.66. The company had a trading volume of 1,290,478 shares, compared to its average volume of 4,035,171. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64. Centene Co. has a 12-month low of $55.03 and a 12-month high of $81.42. The stock has a market cap of $32.64 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 0.85 and a beta of 0.45. The company has a fifty day simple moving average of $61.01 and a 200 day simple moving average of $67.19.

Analyst Ratings Changes

Several equities analysts have commented on CNC shares. Barclays lifted their target price on shares of Centene from $91.00 to $93.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $75.00 price objective (down from $80.00) on shares of Centene in a report on Tuesday, December 17th. StockNews.com upgraded shares of Centene from a "buy" rating to a "strong-buy" rating in a research note on Monday. Jefferies Financial Group cut Centene from a "hold" rating to an "underperform" rating and dropped their price objective for the stock from $68.00 to $52.00 in a report on Tuesday, December 10th. Finally, Wells Fargo & Company decreased their target price on shares of Centene from $91.00 to $90.00 and set an "overweight" rating on the stock in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Centene presently has an average rating of "Moderate Buy" and an average target price of $80.92.

Insiders Place Their Bets

In other news, CEO Sarah London acquired 4,117 shares of the business's stock in a transaction on Friday, November 8th. The stock was bought at an average price of $60.80 per share, with a total value of $250,313.60. Following the completion of the acquisition, the chief executive officer now owns 667,229 shares of the company's stock, valued at approximately $40,567,523.20. This represents 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 the SEC website. Also, CFO Andrew Lynn Asher bought 17,200 shares of the company's stock in a transaction dated Wednesday, November 13th. The shares were acquired at an average price 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 trade represents a 3.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 45,010 shares of company stock valued at $2,660,276. 0.33% of the stock is owned by company insiders.

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.