Global X Management Co. LLC boosted its stake in shares of Centene Corporation (NYSE:CNC) by 14.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,761 shares of the company’s stock after buying an additional 1,004 shares during the period. Global X Management Co. LLC’s holdings in Centene were worth $783,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Centene during the fourth quarter worth $131,000. Baldwin Brothers Inc. MA purchased a new stake in Centene during the third quarter worth $185,000. SeaCrest Wealth Management LLC purchased a new stake in Centene during the fourth quarter worth $188,000. Calamos Advisors LLC purchased a new stake in Centene during the third quarter worth $207,000. Finally, Commerzbank Aktiengesellschaft FI purchased a new stake in Centene during the third quarter worth $207,000. Institutional investors own 93.03% of the company’s stock.
Shares of Centene Corporation (NYSE:CNC) opened at $100.26 on Wednesday. Centene Corporation has a twelve month low of $65.03 and a twelve month high of $112.42. The company has a current ratio of 0.93, a quick ratio of 0.99 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $17,381.86, a price-to-earnings ratio of 19.92, a PEG ratio of 0.96 and a beta of 0.71.
In related news, EVP Jesse N. Hunter sold 10,000 shares of the company’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $98.73, for a total value of $987,300.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert K. Ditmore sold 8,750 shares of the company’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $104.30, for a total value of $912,625.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,500 shares of company stock worth $3,311,613. 3.00% of the stock is owned by insiders.
CNC has been the subject of a number of analyst reports. Cantor Fitzgerald restated a “buy” rating and set a $115.00 target price on shares of Centene in a report on Monday, December 18th. Jefferies Group upped their target price on Centene from $112.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, December 18th. Oppenheimer upped their target price on Centene from $111.00 to $122.00 and gave the stock an “outperform” rating in a report on Wednesday, December 20th. ValuEngine upgraded Centene from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Zacks Investment Research lowered Centene from a “strong-buy” rating to a “hold” rating in a report on Friday, December 22nd. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $110.28.
Centene Company Profile
Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.
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