Guardian Capital LP acquired a new stake in Centene Co. (NYSE:CNC – Get Rating) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 13,221 shares of the company’s stock, valued at approximately $1,119,000.
A number of other institutional investors have also added to or reduced their stakes in CNC. Baker Tilly Wealth Management LLC raised its holdings in shares of Centene by 1.4% in the 2nd quarter. Baker Tilly Wealth Management LLC now owns 8,219 shares of the company’s stock valued at $695,000 after acquiring an additional 110 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its position in shares of Centene by 0.5% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 25,928 shares of the company’s stock valued at $2,194,000 after purchasing an additional 119 shares during the last quarter. Clayton Partners LLC increased its position in shares of Centene by 0.4% during the 1st quarter. Clayton Partners LLC now owns 32,688 shares of the company’s stock valued at $2,752,000 after purchasing an additional 127 shares during the last quarter. Vestmark Advisory Solutions Inc. grew its position in Centene by 3.9% during the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 3,478 shares of the company’s stock worth $294,000 after acquiring an additional 130 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its position in Centene by 18.1% during the 1st quarter. First Horizon Advisors Inc. now owns 855 shares of the company’s stock worth $72,000 after acquiring an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 94.74% of the company’s stock.
Centene Stock Performance
NYSE:CNC traded up $0.67 during mid-day trading on Thursday, hitting $83.63. 3,487,326 shares of the company traded hands, compared to its average volume of 3,432,961. The stock’s fifty day moving average price is $80.36 and its 200-day moving average price is $84.91. Centene Co. has a one year low of $69.51 and a one year high of $98.53. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.71. The firm has a market cap of $47.36 billion, a price-to-earnings ratio of 24.38, a price-to-earnings-growth ratio of 1.08 and a beta of 0.60.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on CNC shares. Barclays reduced their price target on Centene from $107.00 to $100.00 and set an “overweight” rating on the stock in a research report on Monday, October 3rd. StockNews.com began coverage on Centene in a report on Wednesday, October 12th. They issued a “strong-buy” rating for the company. Oppenheimer increased their price objective on Centene to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Wells Fargo & Company cut Centene from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $103.00 to $99.00 in a research note on Friday, August 26th. Finally, Cowen lowered their target price on Centene from $108.00 to $101.00 in a research note on Thursday, September 22nd. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong 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 $98.68.
Centene Corporation operates as a multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. Its Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which cover dually eligible individuals, as well as aged, blind, or disabled programs.
- Get a free copy of the StockNews.com research report on Centene (CNC)
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