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

Washington Capital Management Inc. increased its stake in Centene Co. (NYSE:CNC) by 40.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,130 shares of the company’s stock after acquiring an additional 5,550 shares during the quarter. Centene makes up about 0.9% of Washington Capital Management Inc.’s portfolio, making the stock its 17th biggest holding. Washington Capital Management Inc.’s holdings in Centene were worth $1,159,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CNC. Mount Yale Investment Advisors LLC raised its position in shares of Centene by 2.1% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 8,082 shares of the company’s stock worth $608,000 after purchasing an additional 167 shares during the last quarter. Aptus Capital Advisors LLC lifted its position in shares of Centene by 6.2% in the third quarter. Aptus Capital Advisors LLC now owns 3,722 shares of the company’s stock valued at $280,000 after acquiring an additional 217 shares in the last quarter. CX Institutional boosted its stake in shares of Centene by 7.3% in the third quarter. CX Institutional now owns 3,919 shares of the company’s stock worth $295,000 after acquiring an additional 266 shares during the last quarter. Forte Capital LLC ADV increased its position in shares of Centene by 5.5% during the third quarter. Forte Capital LLC ADV now owns 5,320 shares of the company’s stock worth $400,000 after purchasing an additional 275 shares in the last quarter. Finally, GAM Holding AG raised its stake in Centene by 0.3% in the 3rd quarter. GAM Holding AG now owns 88,973 shares of the company’s stock valued at $6,698,000 after purchasing an additional 288 shares during the last quarter. 93.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CNC has been the topic of several recent research reports. 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 note on Friday, December 13th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $75.00 price objective (down previously from $80.00) on shares of Centene in a research note on Tuesday, December 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 target price on shares of Centene in a research note on Wednesday, December 11th. Truist Financial lowered their target price on Centene from $89.00 to $84.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Finally, Robert W. Baird reduced their price objective on Centene from $83.00 to $66.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Centene has a consensus rating of “Moderate Buy” and an average target price of $80.92.

Centene Trading Down 1.3 %

Shares of CNC stock opened at $63.89 on Thursday. Centene Co. has a 1-year low of $55.03 and a 1-year high of $81.42. The firm has a market cap of $32.26 billion, a PE ratio of 11.09, a price-to-earnings-growth ratio of 0.85 and a beta of 0.45. The company has a 50-day moving average of $60.91 and a two-hundred day moving average of $67.21. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10.

Insider Activity at Centene

In other Centene news, CEO Sarah London purchased 4,117 shares of Centene stock in a transaction dated Friday, November 8th. The shares were acquired at an average price of $60.80 per share, with a total value of $250,313.60. Following the completion of the transaction, the chief executive officer now owns 667,229 shares of the company’s stock, valued at $40,567,523.20. This trade represents a 0.62 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas Greco acquired 17,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was acquired at an average price of $59.75 per share, with a total value of $1,015,750.00. Following the acquisition, the director now directly owns 19,309 shares of the company’s stock, valued at approximately $1,153,712.75. This represents a 736.25 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 45,010 shares of company stock worth $2,660,276. Insiders own 0.33% of the company’s stock.

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.