Centene Co. (NYSE:CNC) is Gladius Capital Management LP’s 9th Largest Position

Gladius Capital Management LP lowered its holdings in shares of Centene Co. (NYSE:CNC) by 8.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,238 shares of the company’s stock after selling 1,250 shares during the quarter. Centene makes up 0.1% of Gladius Capital Management LP’s holdings, making the stock its 9th largest position. Gladius Capital Management LP’s holdings in Centene were worth $997,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Park Place Capital Corp grew its stake in Centene by 1,190.0% in the 3rd quarter. Park Place Capital Corp now owns 387 shares of the company’s stock valued at $29,000 after acquiring an additional 357 shares during the period. WR Wealth Planners LLC increased its stake in shares of Centene by 41.4% during the second quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock worth $31,000 after purchasing an additional 137 shares in the last quarter. Chris Bulman Inc acquired a new position in shares of Centene during the 2nd quarter worth about $33,000. Riverview Trust Co lifted its stake in Centene by 154.6% in the 2nd quarter. Riverview Trust Co now owns 527 shares of the company’s stock valued at $35,000 after buying an additional 320 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Centene during the 2nd quarter worth approximately $36,000. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on CNC. Sanford C. Bernstein decreased their target price on Centene from $96.00 to $88.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Oppenheimer lowered their target price on shares of Centene from $110.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. Barclays reduced their target price on shares of Centene from $97.00 to $91.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft upped their price objective 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. Finally, Wells Fargo & Company decreased their target price on shares of Centene from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Centene has a consensus rating of “Moderate Buy” and an average price target of $83.92.

Centene Price Performance

NYSE:CNC opened at $57.46 on Friday. The company has a market capitalization of $29.01 billion, a P/E ratio of 9.98, a P/E/G ratio of 0.79 and a beta of 0.49. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64. Centene Co. has a 52 week low of $57.25 and a 52 week high of $81.42. The stock’s fifty day moving average is $68.06 and its two-hundred day moving average is $71.00.

Insider Activity at Centene

In related news, CEO Sarah London purchased 4,117 shares of Centene stock in a transaction dated Friday, November 8th. The shares were acquired at an average cost of $60.80 per share, with a total value of $250,313.60. Following the purchase, the chief executive officer now 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Andrew Lynn Asher acquired 17,200 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were bought at an average cost of $58.14 per share, with a total value of $1,000,008.00. Following the transaction, the chief financial officer now directly owns 486,847 shares in the company, valued at $28,305,284.58. This trade represents a 3.66 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is 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.