Centene Co. (NYSE:CNC) Shares Bought by Assetmark Inc.

Assetmark Inc. lifted its stake in shares of Centene Co. (NYSE:CNC) by 193.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,640 shares of the company’s stock after acquiring an additional 2,398 shares during the quarter. Assetmark Inc.’s holdings in Centene were worth $274,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB bought a new stake in Centene in the first quarter worth about $914,080,000. Capital International Investors raised its holdings in shares of Centene by 60.2% in the 1st quarter. Capital International Investors now owns 5,216,486 shares of the company’s stock worth $409,390,000 after purchasing an additional 1,959,460 shares in the last quarter. AQR Capital Management LLC lifted its stake in Centene by 22.9% during the second quarter. AQR Capital Management LLC now owns 4,461,517 shares of the company’s stock valued at $295,799,000 after purchasing an additional 832,318 shares during the last quarter. Legal & General Group Plc boosted its holdings in Centene by 14.2% during the second quarter. Legal & General Group Plc now owns 5,113,759 shares of the company’s stock worth $339,042,000 after buying an additional 636,683 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Centene by 42.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 1,400,276 shares of the company’s stock valued at $92,838,000 after buying an additional 416,003 shares in the last quarter. 93.63% of the stock is owned by institutional investors.

Insider Buying and Selling at Centene

In other news, CFO Andrew Lynn Asher purchased 17,200 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was bought at an average cost of $58.14 per share, for a total transaction 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. The trade was a 3.66 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sarah London bought 4,117 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were acquired at an average price 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 in the company, valued at $40,567,523.20. This trade represents a 0.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company’s stock.

Centene Stock Down 2.1 %

Centene stock 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 0.80 and a beta of 0.49. Centene Co. has a 1-year low of $57.25 and a 1-year high of $81.42. The firm’s fifty day simple moving average is $68.06 and its 200-day simple moving average is $71.01. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CNC shares. Deutsche Bank Aktiengesellschaft lifted their target price on Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Barclays cut their price objective on Centene from $97.00 to $91.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. TD Cowen raised their target price on shares of Centene from $80.00 to $89.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price target on shares of Centene in a report on Tuesday, October 1st. Finally, Jefferies Financial Group cut shares of Centene from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $83.00 to $69.00 in a research report on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.92.

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.