Assenagon Asset Management S.A. Increases Stock Holdings in Centene Co. (NYSE:CNC)

Assenagon Asset Management S.A. boosted its holdings in Centene Co. (NYSE:CNC) by 693.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,705,936 shares of the company’s stock after acquiring an additional 1,490,935 shares during the period. Assenagon Asset Management S.A. owned 0.34% of Centene worth $103,346,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Harris Associates L P increased its stake in shares of Centene by 5.7% during the 3rd quarter. Harris Associates L P now owns 26,314,183 shares of the company’s stock worth $1,980,932,000 after purchasing an additional 1,420,825 shares in the last quarter. AQR Capital Management LLC increased its position in Centene by 22.9% during the second quarter. AQR Capital Management LLC now owns 4,461,517 shares of the company’s stock worth $295,799,000 after buying an additional 832,318 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Centene by 14.2% in the second 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. Hotchkis & Wiley Capital Management LLC increased its position in Centene by 15.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 3,203,049 shares of the company’s stock worth $241,126,000 after purchasing an additional 428,100 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in Centene by 42.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,400,276 shares of the company’s stock valued at $92,838,000 after purchasing an additional 416,003 shares in the last quarter. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Centene Stock Performance

Shares of CNC stock opened at $63.44 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market capitalization of $32.03 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 0.78 and a beta of 0.45. Centene Co. has a one year low of $55.03 and a one year high of $81.42. The company’s 50-day simple moving average is $60.06 and its 200-day simple moving average is $67.41.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CNC shares. StockNews.com lowered shares of Centene from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $75.00 price objective (down previously from $80.00) on shares of Centene in a research report on Tuesday, December 17th. Oppenheimer cut their price objective on shares of Centene from $95.00 to $85.00 and set an “outperform” rating on the stock in a report on Friday, December 13th. 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 report on Monday, November 4th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 price target on shares of Centene in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.92.

Insider Buying and Selling

In related news, 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 cost of $58.14 per share, for a total transaction of $1,000,008.00. Following the completion of the purchase, the chief financial officer now owns 486,847 shares of the company’s stock, valued at $28,305,284.58. This represents a 3.66 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director H James Dallas purchased 1,693 shares of the stock in a transaction dated Monday, December 16th. The shares were purchased at an average price of $59.01 per share, with a total value of $99,903.93. Following the transaction, the director now directly owns 1,693 shares of the company’s stock, valued at approximately $99,903.93. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 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.