Centene Co. (NYSE:CNC) Shares Sold by Burney Co.

Burney Co. trimmed its position in Centene Co. (NYSE:CNC) by 67.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,577 shares of the company’s stock after selling 136,610 shares during the period. Burney Co.’s holdings in Centene were worth $4,033,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its stake in Centene by 2.8% during the second quarter. Envestnet Asset Management Inc. now owns 456,454 shares of the company’s stock valued at $30,263,000 after buying an additional 12,607 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Centene by 8.9% during the second quarter. Dimensional Fund Advisors LP now owns 4,707,648 shares of the company’s stock worth $312,150,000 after buying an additional 385,426 shares in the last quarter. Edgestream Partners L.P. grew its position in Centene by 136.2% in the second quarter. Edgestream Partners L.P. now owns 13,313 shares of the company’s stock worth $883,000 after buying an additional 7,677 shares during the last quarter. E Fund Management Co. Ltd. lifted its position in shares of Centene by 6.4% during the 2nd quarter. E Fund Management Co. Ltd. now owns 3,309 shares of the company’s stock valued at $219,000 after acquiring an additional 199 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in shares of Centene by 16.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 159,885 shares of the company’s stock worth $10,585,000 after acquiring an additional 22,525 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Price Performance

CNC opened at $63.23 on Thursday. The stock has a market cap of $31.92 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 0.82 and a beta of 0.46. Centene Co. has a 1 year low of $55.03 and a 1 year high of $81.42. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64. The stock has a fifty day moving average price of $60.06 and a 200 day moving average price of $67.41.

Wall Street Analysts Forecast Growth

CNC has been the subject of several analyst reports. Robert W. Baird reduced 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. Stephens decreased their price objective on shares of Centene from $75.00 to $73.00 and set an “equal weight” rating for the company in a research note on Friday, December 13th. UBS Group raised shares of Centene from a “neutral” rating to a “buy” rating and boosted their target price for the company from $79.00 to $80.00 in a research note on Friday, December 13th. 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, December 13th. Finally, Wells Fargo & Company decreased their target price on Centene from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $80.92.

Insider Activity at Centene

In related news, Director Thomas Greco bought 17,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were bought at an average cost of $59.75 per share, for a total transaction of $1,015,750.00. Following the completion of the acquisition, the director now directly owns 19,309 shares in the company, valued at approximately $1,153,712.75. This represents a 736.25 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andrew Lynn Asher bought 17,200 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were bought at an average price of $58.14 per share, for a total transaction of $1,000,008.00. Following the completion of the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 45,010 shares of company stock valued at $2,660,276. Insiders own 0.33% of the company’s stock.

About Centene

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.