Sigma Planning Corp Takes Position in Centene Co. (NYSE:CNC)

Sigma Planning Corp bought a new position in shares of Centene Co. (NYSE:CNC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,803 shares of the company’s stock, valued at approximately $211,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Oxbow Advisors LLC increased its holdings in shares of Centene by 4.6% during the 3rd quarter. Oxbow Advisors LLC now owns 64,817 shares of the company’s stock valued at $4,879,000 after purchasing an additional 2,875 shares in the last quarter. Lindbrook Capital LLC increased its holdings in Centene by 18.9% in the third quarter. Lindbrook Capital LLC now owns 4,496 shares of the company’s stock valued at $338,000 after buying an additional 714 shares in the last quarter. Assetmark Inc. raised its position in shares of Centene by 193.1% in the third quarter. Assetmark Inc. now owns 3,640 shares of the company’s stock worth $274,000 after acquiring an additional 2,398 shares during the period. Seascape Capital Management grew its position in shares of Centene by 1.0% during the 3rd quarter. Seascape Capital Management now owns 41,141 shares of the company’s stock valued at $3,097,000 after acquiring an additional 412 shares during the period. Finally, Applied Finance Capital Management LLC increased its stake in shares of Centene by 72.1% in the 3rd quarter. Applied Finance Capital Management LLC now owns 15,045 shares of the company’s stock valued at $1,133,000 after purchasing an additional 6,302 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CNC shares. Oppenheimer cut their price objective on Centene from $110.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, July 29th. TD Cowen lifted their target price on shares of Centene from $80.00 to $89.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Stephens reaffirmed an “equal weight” rating and issued a $78.00 price target on shares of Centene in a research note on Monday, August 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 price objective on shares of Centene in a research note on Tuesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.92.

Insider Activity at Centene

In other Centene news, CFO Andrew Lynn Asher acquired 17,200 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was purchased at an average cost of $58.14 per share, with a total value of $1,000,008.00. Following the transaction, the chief financial officer now owns 486,847 shares of the company’s stock, valued at $28,305,284.58. This trade represents a 3.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sarah London bought 4,117 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was bought at an average cost of $60.80 per share, for a total transaction of $250,313.60. Following the transaction, the chief executive officer now directly owns 667,229 shares of the company’s stock, valued at $40,567,523.20. The trade was a 0.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by insiders.

Centene Stock Down 2.1 %

Shares of NYSE:CNC opened at $57.46 on Monday. Centene Co. has a 52-week low of $57.25 and a 52-week high of $81.42. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64. The business has a fifty day moving average of $68.06 and a two-hundred day moving average of $70.99. The stock has a market cap of $29.01 billion, a P/E ratio of 9.98, a PEG ratio of 0.79 and a beta of 0.49.

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.