Insider Buying: Centene Co. (NYSE:CNC) Director Acquires $99,903.93 in Stock

Centene Co. (NYSE:CNC) Director H James Dallas purchased 1,693 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were purchased at an average cost of $59.01 per share, for a total transaction of $99,903.93. Following the completion of the transaction, the director now directly owns 1,693 shares of the company’s stock, valued at $99,903.93. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Centene Stock Performance

NYSE CNC opened at $59.71 on Friday. The firm has a market cap of $30.15 billion, a P/E ratio of 10.37, a price-to-earnings-growth ratio of 0.78 and a beta of 0.46. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64. The company’s 50 day moving average is $61.01 and its 200-day moving average is $68.29. Centene Co. has a 12-month low of $55.03 and a 12-month high of $81.42.

Analyst Ratings Changes

Several equities analysts have commented on CNC shares. Wells Fargo & Company dropped their target price on shares of Centene from $91.00 to $90.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Stephens dropped their price target on Centene from $75.00 to $73.00 and set an “equal weight” rating on the stock in a report on Friday, December 13th. Barclays upped their price objective on Centene from $91.00 to $93.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Sanford C. Bernstein lowered their target price on Centene from $96.00 to $88.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group lowered shares of Centene from a “hold” rating to an “underperform” rating and reduced their price target for the company from $68.00 to $52.00 in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $80.92.

Institutional Investors Weigh In On Centene

A number of hedge funds and other institutional investors have recently bought and sold shares of CNC. Harris Associates L P boosted its holdings in shares of Centene by 5.7% in the third quarter. Harris Associates L P now owns 26,314,183 shares of the company’s stock worth $1,980,932,000 after acquiring an additional 1,420,825 shares during the period. AQR Capital Management LLC boosted its stake in Centene by 22.9% in the 2nd quarter. AQR Capital Management LLC now owns 4,461,517 shares of the company’s stock worth $295,799,000 after purchasing an additional 832,318 shares during the period. Legal & General Group Plc grew its holdings in Centene by 14.2% during the 2nd quarter. Legal & General Group Plc now owns 5,113,759 shares of the company’s stock valued at $339,042,000 after buying an additional 636,683 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of Centene by 15.4% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 3,203,049 shares of the company’s stock valued at $241,126,000 after buying an additional 428,100 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Centene by 42.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 1,400,276 shares of the company’s stock worth $92,838,000 after buying an additional 416,003 shares in the last quarter. Institutional investors own 93.63% of the company’s stock.

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.