Centene Co. (NYSE:CNC) Holdings Raised by SouthState Corp

SouthState Corp boosted its stake in shares of Centene Co. (NYSE:CNC) by 2.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,276 shares of the company’s stock after buying an additional 1,102 shares during the period. SouthState Corp’s holdings in Centene were worth $3,107,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Park Place Capital Corp increased its stake in shares of Centene by 1,190.0% in the third quarter. Park Place Capital Corp now owns 387 shares of the company’s stock worth $29,000 after acquiring an additional 357 shares during the last quarter. WR Wealth Planners LLC lifted its holdings in shares of Centene by 41.4% during the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock valued at $31,000 after buying an additional 137 shares during the last quarter. Chris Bulman Inc acquired a new position in Centene in the second quarter worth approximately $33,000. Riverview Trust Co raised its position in Centene by 154.6% during the second quarter. Riverview Trust Co now owns 527 shares of the company’s stock valued at $35,000 after acquiring an additional 320 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Centene in the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Performance

Shares of CNC opened at $58.83 on Tuesday. Centene Co. has a 12 month low of $57.20 and a 12 month 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 firm’s fifty day simple moving average is $67.82 and its two-hundred day simple moving average is $70.88. The stock has a market capitalization of $29.70 billion, a P/E ratio of 10.21, a price-to-earnings-growth ratio of 0.79 and a beta of 0.49.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CNC. Sanford C. Bernstein reduced their price objective on shares of Centene from $96.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Wells Fargo & Company reduced their price objective on shares of Centene from $91.00 to $90.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Jefferies Financial Group cut Centene from a “buy” rating to a “hold” rating and lowered their price target for the company from $83.00 to $69.00 in a research report on Wednesday, July 24th. Robert W. Baird decreased their price objective on shares of Centene from $83.00 to $66.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Finally, TD Cowen lifted their price target on Centene from $80.00 to $89.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. 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, the company has an average rating of “Moderate Buy” and a consensus price target of $83.92.

Insider Activity at Centene

In other Centene news, CEO Sarah London bought 4,117 shares of the stock in a transaction dated Friday, November 8th. The shares were bought at an average cost of $60.80 per share, for a total transaction of $250,313.60. Following the purchase, the chief executive officer now directly owns 667,229 shares of the company’s stock, valued at approximately $40,567,523.20. This trade represents a 0.62 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew Lynn Asher acquired 17,200 shares of the company’s stock in a transaction that occurred 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 purchase, the chief financial officer now 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 disclosure for this purchase can be found here. 0.29% of the stock is currently owned by corporate insiders.

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.