Victory Capital Management Inc. decreased its holdings in Centene Co. (NYSE:CNC) by 2.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,094,982 shares of the company’s stock after selling 50,693 shares during the period. Victory Capital Management Inc. owned about 0.36% of Centene worth $122,200,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. LPL Financial LLC grew its position in shares of Centene by 20.1% during the third quarter. LPL Financial LLC now owns 98,134 shares of the company’s stock worth $5,724,000 after buying an additional 16,424 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new position in Centene during the 3rd quarter worth approximately $788,000. State Board of Administration of Florida Retirement System increased its position in shares of Centene by 0.4% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 801,874 shares of the company’s stock valued at $46,773,000 after purchasing an additional 3,377 shares during the last quarter. Hosking Partners LLP acquired a new stake in shares of Centene in the 3rd quarter valued at $4,013,000. Finally, AMF Pensionsforsakring AB increased its holdings in Centene by 5.0% in the third quarter. AMF Pensionsforsakring AB now owns 334,868 shares of the company’s stock valued at $19,533,000 after buying an additional 15,897 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.
CNC opened at $67.28 on Wednesday. Centene Co. has a 1 year low of $43.96 and a 1 year high of $74.70. The firm has a 50 day moving average price of $64.49 and a 200 day moving average price of $63.67. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market cap of $39.01 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 1.01 and a beta of 0.55.
In other news, CEO Michael F. Neidorff sold 300,000 shares of the stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $70.12, for a total transaction of $21,036,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tommy G. Thompson sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $58.36, for a total transaction of $87,540.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 444,224 shares of company stock worth $30,287,907. Insiders own 1.90% of the company’s stock.
CNC has been the subject of a number of research reports. Credit Suisse Group reduced their price target on shares of Centene from $72.50 to $67.50 and set a “neutral” rating for the company in a research report on Wednesday, October 28th. SVB Leerink boosted their price objective on Centene from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, October 28th. Stephens downgraded shares of Centene from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, September 22nd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Centene from $87.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, October 28th. Finally, Zacks Investment Research lowered Centene from a “buy” rating to a “hold” rating and set a $64.00 price target on the stock. in a report on Thursday, October 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $82.53.
Centene Company Profile
Centene Corporation operates as a multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. Its Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which cover dually eligible individuals, as well as aged, blind, or disabled programs.
Further Reading: G-20
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