RFG Advisory LLC Trims Stock Holdings in Centene Co. (NYSE:CNC)

RFG Advisory LLC cut its stake in shares of Centene Co. (NYSE:CNC) by 7.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,030 shares of the company’s stock after selling 1,019 shares during the quarter. RFG Advisory LLC’s holdings in Centene were worth $789,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board increased its stake in shares of Centene by 70.3% in the second quarter. Public Sector Pension Investment Board now owns 20,319 shares of the company’s stock worth $1,347,000 after purchasing an additional 8,387 shares in the last quarter. Marshall Wace LLP purchased a new stake in Centene in the 2nd quarter worth $8,374,000. D. E. Shaw & Co. Inc. lifted its position in shares of Centene by 14.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 328,549 shares of the company’s stock valued at $21,783,000 after acquiring an additional 41,671 shares in the last quarter. MBB Public Markets I LLC bought a new position in shares of Centene in the second quarter worth about $2,618,000. Finally, Mackenzie Financial Corp grew its position in shares of Centene by 3.5% during the second quarter. Mackenzie Financial Corp now owns 434,903 shares of the company’s stock worth $28,834,000 after purchasing an additional 14,638 shares in the last quarter. 93.63% of the stock is owned by hedge funds and other institutional investors.

Centene Price Performance

CNC stock opened at $64.61 on Monday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64. Centene Co. has a 12 month low of $55.03 and a 12 month high of $81.42. The stock has a market cap of $32.62 billion, a PE ratio of 11.22, a P/E/G ratio of 0.85 and a beta of 0.45. The company has a 50-day moving average price of $60.63 and a 200 day moving average price of $67.24.

Insider Buying and Selling at Centene

In other Centene news, CFO Andrew Lynn Asher acquired 17,200 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was bought at an average price of $58.14 per share, for a total transaction of $1,000,008.00. Following the acquisition, the chief financial officer now directly owns 486,847 shares in the company, valued at $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 available at this hyperlink. Also, Director H James Dallas bought 1,693 shares of Centene stock in a transaction on Monday, December 16th. The stock was acquired at an average price of $59.01 per share, for a total transaction of $99,903.93. Following the purchase, the director now owns 1,693 shares of the company’s stock, valued at approximately $99,903.93. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 45,010 shares of company stock worth $2,660,276 over the last 90 days. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Sanford C. Bernstein dropped their price target on Centene from $96.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Robert W. Baird cut their target price on shares of Centene from $83.00 to $66.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Barclays boosted their price target on shares of Centene from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Wells Fargo & Company reduced their target price on Centene from $91.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Finally, Stephens dropped their price target on Centene from $75.00 to $73.00 and set an “equal weight” rating for the company in a research note on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.