Gateway Investment Advisers LLC Sells 1,374 Shares of Centene Co. (NYSE:CNC)

Gateway Investment Advisers LLC reduced its position in Centene Co. (NYSE:CNC) by 9.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,924 shares of the company’s stock after selling 1,374 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Centene were worth $783,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vantage Investment Partners LLC increased its holdings in shares of Centene by 17.1% in the third quarter. Vantage Investment Partners LLC now owns 683,817 shares of the company’s stock worth $51,478,000 after purchasing an additional 99,904 shares during the period. State Street Corp increased its holdings in shares of Centene by 0.5% in the 3rd quarter. State Street Corp now owns 23,468,159 shares of the company’s stock worth $1,766,683,000 after buying an additional 111,654 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of Centene by 31.1% during the 3rd quarter. Daiwa Securities Group Inc. now owns 118,810 shares of the company’s stock valued at $8,944,000 after buying an additional 28,175 shares in the last quarter. National Pension Service increased its stake in Centene by 15.4% in the third quarter. National Pension Service now owns 1,435,482 shares of the company’s stock valued at $108,063,000 after acquiring an additional 191,768 shares during the last quarter. Finally, Investment Management Corp of Ontario raised its position in Centene by 273.5% during the third quarter. Investment Management Corp of Ontario now owns 44,285 shares of the company’s stock valued at $3,334,000 after purchasing an additional 32,428 shares in the last quarter. Institutional investors own 93.63% of the company’s stock.

Centene Price Performance

NYSE CNC opened at $62.19 on Friday. 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 company has a market capitalization of $31.40 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 0.83 and a beta of 0.45. The stock has a 50-day moving average of $60.12 and a 200 day moving average of $67.33. Centene Co. has a one year low of $55.03 and a one year high of $81.42.

Insider Activity

In other news, 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 cost of $59.01 per share, with a total value of $99,903.93. Following the acquisition, the director now directly owns 1,693 shares of the company’s stock, valued at $99,903.93. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sarah London acquired 4,117 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average cost of $60.80 per share, with a total value of $250,313.60. Following the acquisition, the chief executive officer now directly owns 667,229 shares of the company’s stock, 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. Insiders purchased 45,010 shares of company stock valued at $2,660,276 over the last three months. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

CNC has been the topic of a number of research reports. Truist Financial decreased their price objective on Centene from $89.00 to $84.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Barclays lifted their price target on Centene from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Stephens lowered their price target on shares of Centene from $75.00 to $73.00 and set an “equal weight” rating for the company in a report on Friday, December 13th. JPMorgan Chase & Co. restated 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. Finally, Wells Fargo & Company reduced their price target on Centene from $91.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $80.92.

Centene Company 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.