Swiss National Bank Cuts Position in Centene Co. (NYSE:CNC)

Swiss National Bank trimmed its position in Centene Co. (NYSE:CNC) by 0.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,583,224 shares of the company’s stock after selling 400 shares during the quarter. Swiss National Bank owned 0.31% of Centene worth $119,185,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Thrivent Financial for Lutherans raised its holdings in shares of Centene by 9.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 74,998 shares of the company’s stock worth $5,645,000 after purchasing an additional 6,337 shares during the period. Claro Advisors LLC purchased a new stake in shares of Centene during the 3rd quarter valued at about $332,000. Mutual of America Capital Management LLC raised its holdings in shares of Centene by 1.5% during the 3rd quarter. Mutual of America Capital Management LLC now owns 98,022 shares of the company’s stock valued at $7,379,000 after buying an additional 1,445 shares during the period. Seizert Capital Partners LLC raised its holdings in shares of Centene by 6.2% during the 3rd quarter. Seizert Capital Partners LLC now owns 112,141 shares of the company’s stock valued at $8,442,000 after buying an additional 6,564 shares during the period. Finally, Natixis Advisors LLC raised its holdings in shares of Centene by 7.8% during the 3rd quarter. Natixis Advisors LLC now owns 414,960 shares of the company’s stock valued at $31,238,000 after buying an additional 30,141 shares during the period. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Centene Stock Up 2.4 %

CNC opened at $58.83 on Tuesday. Centene Co. has a one year low of $57.20 and a one year high of $81.42. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.10 and a current ratio of 1.10. The stock’s fifty day moving average is $67.82 and its 200-day moving average is $70.88. The company has a market capitalization of $29.70 billion, a PE ratio of 10.21, a P/E/G ratio of 0.79 and a beta of 0.49.

Insider Transactions at Centene

In related news, CEO Sarah London bought 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, with a total value of $250,313.60. Following the completion of the transaction, the chief executive officer now directly owns 667,229 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is available at this link. Also, CFO Andrew Lynn Asher purchased 17,200 shares of the 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 acquisition, the chief financial officer now directly owns 486,847 shares of the company’s stock, valued at $28,305,284.58. This represents a 3.66 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have issued reports on CNC. TD Cowen lifted their price objective on Centene from $80.00 to $89.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Stephens reiterated an “equal weight” rating and issued a $78.00 target price on shares of Centene in a research report on Monday, August 5th. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price objective on shares of Centene in a research report on Tuesday, October 1st. Sanford C. Bernstein reduced their price objective on Centene from $96.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Centene from $82.00 to $87.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $83.92.

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.