Jennison Associates LLC Trims Holdings in Centene Co. (NYSE:CNC)

Jennison Associates LLC trimmed its stake in shares of Centene Co. (NYSE:CNC) by 1.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,708,163 shares of the company’s stock after selling 24,172 shares during the quarter. Jennison Associates LLC owned approximately 0.34% of Centene worth $128,591,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CNC. Park Place Capital Corp boosted its holdings in shares of Centene by 1,190.0% in the 3rd quarter. Park Place Capital Corp now owns 387 shares of the company’s stock valued at $29,000 after buying an additional 357 shares during the period. WR Wealth Planners LLC grew its stake in Centene by 41.4% during the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock worth $31,000 after buying an additional 137 shares during the last quarter. Chris Bulman Inc acquired a new position in Centene during the 2nd quarter valued at about $33,000. Riverview Trust Co grew its position in Centene by 154.6% in the second quarter. Riverview Trust Co now owns 527 shares of the company’s stock worth $35,000 after buying an additional 320 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Centene during the 2nd quarter worth $36,000. Institutional investors own 93.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CNC. Wells Fargo & Company reduced their target price on Centene from $91.00 to $90.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Jefferies Financial Group downgraded shares of Centene from a “buy” rating to a “hold” rating and reduced their price target for the company from $83.00 to $69.00 in a research report on Wednesday, July 24th. Oppenheimer cut their target price on shares of Centene from $110.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. Barclays lowered their price target on Centene from $97.00 to $91.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Finally, TD Cowen raised their price objective on Centene from $80.00 to $89.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $83.92.

Insider Buying and Selling

In other Centene news, CFO Andrew Lynn Asher acquired 17,200 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was acquired at an average price of $58.14 per share, with a total value of $1,000,008.00. Following the transaction, the chief financial officer now owns 486,847 shares of the company’s stock, valued at approximately $28,305,284.58. This trade represents a 3.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sarah London bought 4,117 shares of Centene stock in a transaction that occurred 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 purchase, 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 position. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

Centene Trading Down 1.8 %

Centene stock opened at $57.80 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market capitalization of $29.18 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 0.79 and a beta of 0.49. The company’s fifty day moving average price is $67.56 and its two-hundred day moving average price is $70.76. Centene Co. has a one year low of $57.20 and a one year high of $81.42.

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.