Centene Co. (NYSE:CNC) Position Raised by Intech Investment Management LLC

Intech Investment Management LLC boosted its holdings in Centene Co. (NYSE:CNC) by 212.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,316 shares of the company’s stock after acquiring an additional 10,420 shares during the quarter. Intech Investment Management LLC’s holdings in Centene were worth $1,153,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CNC. Park Place Capital Corp boosted its holdings in Centene by 1,190.0% during the third quarter. Park Place Capital Corp now owns 387 shares of the company’s stock worth $29,000 after buying an additional 357 shares in the last quarter. WR Wealth Planners LLC grew its holdings in shares of Centene by 41.4% in the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock worth $31,000 after acquiring an additional 137 shares during the last quarter. Chris Bulman Inc acquired a new stake in shares of Centene during the second quarter worth $33,000. Riverview Trust Co lifted its holdings in shares of 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 purchasing an additional 320 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Centene in the 2nd quarter worth about $36,000. Institutional investors own 93.63% of the company’s stock.

Centene Price Performance

NYSE CNC opened at $60.00 on Wednesday. The firm has a market cap of $30.29 billion, a P/E ratio of 10.42, a price-to-earnings-growth ratio of 0.83 and a beta of 0.49. The stock’s 50-day moving average is $66.07 and its two-hundred day moving average is $70.19. Centene Co. has a fifty-two week low of $57.20 and a fifty-two week high of $81.42. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10.

Wall Street Analyst Weigh In

A number of analysts have commented on CNC shares. Barclays reduced their price objective on shares of Centene from $97.00 to $91.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Stephens reissued an “equal weight” rating and set a $78.00 target price on shares of Centene in a research note on Monday, August 5th. 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 research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased their price objective on Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Finally, Sanford C. Bernstein lowered their target price on Centene from $96.00 to $88.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $83.92.

Insiders Place Their Bets

In other news, CEO Sarah London bought 4,117 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were acquired 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 owns 667,229 shares of the company’s stock, valued at $40,567,523.20. This represents a 0.62 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrew Lynn Asher purchased 17,200 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were purchased at an average price of $58.14 per share, with a total value of $1,000,008.00. Following the completion of the acquisition, the chief financial officer now directly 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 ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

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.