Victory Capital Management Inc. Has $61.14 Million Stake in Centene Co. (NYSE:CNC)

Victory Capital Management Inc. boosted its position in shares of Centene Co. (NYSE:CNC) by 21.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 812,210 shares of the company’s stock after purchasing an additional 143,322 shares during the period. Victory Capital Management Inc. owned about 0.16% of Centene worth $61,143,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CNC. Swedbank AB acquired a new position in Centene during the 1st quarter worth approximately $914,080,000. Boston Partners boosted its holdings in Centene by 0.4% during the first quarter. Boston Partners now owns 8,652,177 shares of the company’s stock worth $678,033,000 after purchasing an additional 32,427 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Centene by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,491,968 shares of the company’s stock valued at $364,117,000 after buying an additional 25,595 shares during the last quarter. Capital International Investors lifted its position in Centene by 60.2% during the 1st quarter. Capital International Investors now owns 5,216,486 shares of the company’s stock worth $409,390,000 after buying an additional 1,959,460 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Centene by 14.2% in the 2nd quarter. Legal & General Group Plc now owns 5,113,759 shares of the company’s stock valued at $339,042,000 after acquiring an additional 636,683 shares in the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CNC. Barclays dropped their target price on Centene from $97.00 to $91.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Centene from $82.00 to $87.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Oppenheimer cut their price target on shares of Centene from $110.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, July 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 target price on shares of Centene in a report on Tuesday, October 1st. Finally, Sanford C. Bernstein reduced their price target on Centene from $96.00 to $88.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Centene presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.92.

Centene Trading Up 1.1 %

Shares of NYSE:CNC opened at $58.69 on Friday. The company has a market capitalization of $29.63 billion, a P/E ratio of 10.19, a P/E/G ratio of 0.80 and a beta of 0.49. 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 business’s 50 day simple moving average is $68.61 and its 200 day simple moving average is $71.21. Centene Co. has a 1 year low of $57.56 and a 1 year high of $81.42.

Insider Transactions at Centene

In other news, CFO Andrew Lynn Asher acquired 17,200 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were acquired at an average cost of $58.14 per share, with a total value of $1,000,008.00. Following the completion of the purchase, the chief financial officer now directly owns 486,847 shares of the company’s stock, valued at $28,305,284.58. The trade was a 3.66 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sarah London bought 4,117 shares of the business’s stock in a transaction on Friday, November 8th. The shares were acquired at an average price of $60.80 per share, with a total value of $250,313.60. Following the completion of 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 insiders.

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.