M&T Bank Corp Increases Position in Centene Co. (NYSE:CNC)

M&T Bank Corp increased its holdings in shares of Centene Co. (NYSE:CNC) by 6.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 30,118 shares of the company’s stock after acquiring an additional 1,946 shares during the period. M&T Bank Corp’s holdings in Centene were worth $2,267,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Park Place Capital Corp boosted its stake in shares of Centene by 1,190.0% during the third quarter. Park Place Capital Corp now owns 387 shares of the company’s stock valued at $29,000 after purchasing an additional 357 shares during the period. WR Wealth Planners LLC grew its stake in Centene by 41.4% in the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock worth $31,000 after acquiring an additional 137 shares in the last quarter. Chris Bulman Inc purchased a new position in shares of Centene during the second quarter worth approximately $33,000. Crewe Advisors LLC raised its stake in shares of Centene by 174.3% during the second quarter. Crewe Advisors LLC now owns 683 shares of the company’s stock valued at $45,000 after acquiring an additional 434 shares in the last quarter. Finally, Private Trust Co. NA grew its stake in Centene by 75.3% in the third quarter. Private Trust Co. NA now owns 773 shares of the company’s stock worth $58,000 after purchasing an additional 332 shares in the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Insider Buying and Selling

In related news, CFO Andrew Lynn Asher acquired 17,200 shares of Centene stock in a transaction on Wednesday, November 13th. The stock was acquired at an average price of $58.14 per share, for a total transaction of $1,000,008.00. Following the purchase, the chief financial officer now owns 486,847 shares of the company’s stock, valued at approximately $28,305,284.58. This represents a 3.66 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sarah London bought 4,117 shares of the stock in a transaction dated Friday, November 8th. The stock was bought at an average price of $60.80 per share, for a total transaction of $250,313.60. Following the purchase, the chief executive officer now directly owns 667,229 shares of the company’s stock, valued at approximately $40,567,523.20. The trade was a 0.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Truist Financial decreased their target price on Centene from $89.00 to $84.00 and set a “buy” rating for the company in a research report on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 price objective on shares of Centene in a research note on Wednesday. Barclays raised their target price on shares of Centene from $91.00 to $93.00 and gave the company an “overweight” rating in a research report on Friday. Stephens dropped their price objective on shares of Centene from $75.00 to $73.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, Robert W. Baird lowered their target price on Centene from $83.00 to $66.00 and set a “neutral” rating for the company in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $81.31.

Centene Stock Performance

CNC opened at $59.41 on Friday. The firm has a 50 day moving average of $62.28 and a two-hundred day moving average of $68.73. The firm has a market capitalization of $29.99 billion, a PE ratio of 10.31, a P/E/G ratio of 0.78 and a beta of 0.46. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64. Centene Co. has a 12-month low of $55.03 and a 12-month 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.