Polar Asset Management Partners Inc. lifted its position in Centene Corp (NYSE:CNC) by 12.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 50,700 shares of the company’s stock after buying an additional 5,700 shares during the period. Polar Asset Management Partners Inc.’s holdings in Centene were worth $2,659,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Securian Asset Management Inc grew its holdings in shares of Centene by 0.5% in the 2nd quarter. Securian Asset Management Inc now owns 42,497 shares of the company’s stock worth $2,229,000 after acquiring an additional 205 shares during the last quarter. Public Employees Retirement Association of Colorado grew its holdings in shares of Centene by 0.3% during the second quarter. Public Employees Retirement Association of Colorado now owns 70,507 shares of the company’s stock valued at $3,697,000 after buying an additional 217 shares in the last quarter. Smith Moore & CO. grew its holdings in shares of Centene by 2.2% during the second quarter. Smith Moore & CO. now owns 10,692 shares of the company’s stock valued at $561,000 after buying an additional 233 shares in the last quarter. Advisor Partners LLC grew its holdings in shares of Centene by 1.8% during the second quarter. Advisor Partners LLC now owns 13,278 shares of the company’s stock valued at $696,000 after buying an additional 239 shares in the last quarter. Finally, Berman Capital Advisors LLC grew its holdings in shares of Centene by 29.1% during the second quarter. Berman Capital Advisors LLC now owns 1,066 shares of the company’s stock valued at $55,000 after buying an additional 240 shares in the last quarter. 97.07% of the stock is currently owned by institutional investors.
NYSE CNC traded down $0.61 on Tuesday, reaching $45.78. The stock had a trading volume of 4,419,101 shares, compared to its average volume of 6,063,360. The business has a 50 day moving average price of $46.88 and a 200 day moving average price of $52.37. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.58. Centene Corp has a 1 year low of $44.50 and a 1 year high of $74.49. The company has a market capitalization of $19.19 billion, a price-to-earnings ratio of 12.93, a P/E/G ratio of 0.74 and a beta of 0.85.
In other news, Director Jessica L. Blume bought 2,850 shares of the stock in a transaction on Friday, July 26th. The shares were purchased at an average price of $52.99 per share, for a total transaction of $151,021.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.50% of the company’s stock.
CNC has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Centene from a “buy” rating to a “hold” rating and set a $49.00 price target on the stock. in a report on Monday, September 2nd. Morgan Stanley lowered their price target on Centene from $71.00 to $64.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. Deutsche Bank initiated coverage on Centene in a report on Thursday, September 12th. They set a “buy” rating and a $62.00 price target on the stock. Finally, ValuEngine downgraded Centene from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $72.18.
Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. The company's 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 covers dually eligible individuals, as well as aged, blind, or disabled programs.
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