Insider Buying: Centene Co. (NYSE:CNC) CFO Buys 17,200 Shares of Stock

Centene Co. (NYSE:CNC) CFO Andrew Lynn Asher bought 17,200 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was purchased 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 trade represents a 3.66 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Centene Price Performance

Shares of CNC opened at $57.45 on Friday. The company has a market cap of $29.00 billion, a price-to-earnings ratio of 9.97, a PEG ratio of 0.80 and a beta of 0.49. 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 company’s fifty day simple moving average is $68.33 and its 200 day simple moving average is $71.12. Centene Co. has a 1-year low of $57.25 and a 1-year high of $81.42.

Analyst Ratings Changes

Several research analysts have weighed in on CNC shares. TD Cowen lifted their target price on Centene from $80.00 to $89.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. 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 report on Monday, November 4th. Oppenheimer lowered their price objective on shares of Centene from $110.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, July 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 price objective on shares of Centene in a research report on Tuesday, October 1st. Finally, Barclays lowered their target price on Centene from $97.00 to $91.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.92.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Vantage Investment Partners LLC increased its position in Centene by 17.1% during the third quarter. Vantage Investment Partners LLC now owns 683,817 shares of the company’s stock worth $51,478,000 after buying an additional 99,904 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Centene by 18.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 624,944 shares of the company’s stock worth $49,046,000 after acquiring an additional 98,298 shares during the period. Diversified Trust Co increased its holdings in shares of Centene by 35.8% during the 2nd quarter. Diversified Trust Co now owns 28,009 shares of the company’s stock worth $1,857,000 after acquiring an additional 7,385 shares during the last quarter. Bessemer Group Inc. lifted its holdings in Centene by 189.6% during the 1st quarter. Bessemer Group Inc. now owns 24,162 shares of the company’s stock valued at $1,895,000 after purchasing an additional 15,819 shares during the last quarter. Finally, Comerica Bank boosted its position in Centene by 7.3% during the first quarter. Comerica Bank now owns 118,597 shares of the company’s stock worth $9,307,000 after purchasing an additional 8,103 shares during the period. 93.63% of the stock is currently owned by institutional investors and hedge funds.

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.