Centene Co. (NYSE:CNC) Holdings Increased by First Hawaiian Bank

First Hawaiian Bank increased its stake in Centene Co. (NYSE:CNC) by 25.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,898 shares of the company’s stock after acquiring an additional 5,243 shares during the period. First Hawaiian Bank’s holdings in Centene were worth $1,569,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CNC. Vantage Investment Partners LLC grew its stake in shares of Centene by 17.1% in the 3rd 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 last quarter. State Street Corp increased its stake in 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 purchasing an additional 111,654 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Centene by 31.1% in the 3rd quarter. Daiwa Securities Group Inc. now owns 118,810 shares of the company’s stock valued at $8,944,000 after acquiring an additional 28,175 shares in the last quarter. National Pension Service lifted its holdings in shares of 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 purchasing an additional 191,768 shares in the last quarter. Finally, Investment Management Corp of Ontario lifted its stake in Centene by 273.5% in the 3rd quarter. Investment Management Corp of Ontario now owns 44,285 shares of the company’s stock worth $3,334,000 after acquiring an additional 32,428 shares in the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Insider Activity at Centene

In related news, CEO Sarah London purchased 4,117 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was acquired at an average price of $60.80 per share, with a total value of $250,313.60. Following the completion of the acquisition, the chief executive officer now directly owns 667,229 shares in the company, valued at approximately $40,567,523.20. This trade represents a 0.62 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrew Lynn Asher purchased 17,200 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were purchased at an average cost of $58.14 per share, for a total transaction of $1,000,008.00. Following the purchase, the chief financial officer now directly 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 disclosure for this purchase can be found here. Insiders bought 45,010 shares of company stock valued at $2,660,276 in the last ninety days. Insiders own 0.33% of the company’s stock.

Centene Stock Performance

Shares of NYSE:CNC opened at $63.12 on Friday. The business’s fifty day moving average price is $60.12 and its two-hundred day moving average price is $67.50. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10. Centene Co. has a fifty-two week low of $55.03 and a fifty-two week high of $81.42. The stock has a market capitalization of $31.87 billion, a price-to-earnings ratio of 10.96, a price-to-earnings-growth ratio of 0.78 and a beta of 0.45.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CNC shares. Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 target price on shares of Centene in a research note on Wednesday, December 11th. Wells Fargo & Company lowered their price target on Centene from $91.00 to $90.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. StockNews.com downgraded Centene from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Truist Financial dropped their price target on Centene from $89.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Finally, Jefferies Financial Group downgraded shares of Centene from a “hold” rating to an “underperform” rating and lowered their price objective for the stock from $68.00 to $52.00 in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $80.92.

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.