Oppenheimer Asset Management Inc. cut its stake in shares of Centene Corp (NYSE:CNC) by 10.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 34,972 shares of the company’s stock after selling 4,207 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Centene were worth $4,032,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Flagship Harbor Advisors LLC increased its position in shares of Centene by 39.5% during the fourth quarter. Flagship Harbor Advisors LLC now owns 706 shares of the company’s stock valued at $81,000 after buying an additional 200 shares during the period. Csenge Advisory Group bought a new stake in shares of Centene during the third quarter valued at about $105,000. FNY Investment Advisers LLC bought a new stake in shares of Centene during the third quarter valued at about $106,000. Capital Guardian Trust Co. bought a new stake in shares of Centene during the third quarter valued at about $111,000. Finally, Cerebellum GP LLC bought a new stake in shares of Centene during the fourth quarter valued at about $147,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.
In other Centene news, CFO Jeffrey A. Schwaneke sold 4,000 shares of the stock in a transaction that occurred on Tuesday, January 15th. The shares were sold at an average price of $125.00, for a total transaction of $500,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark J. Brooks sold 2,540 shares of the stock in a transaction that occurred on Tuesday, December 18th. The shares were sold at an average price of $121.26, for a total transaction of $308,000.40. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.
CNC has been the topic of several analyst reports. Leerink Swann upgraded Centene from a “market perform” rating to an “outperform” rating and set a $159.68 price target on the stock in a research report on Wednesday, October 24th. Zacks Investment Research upgraded shares of Centene from a “sell” rating to a “hold” rating in a research report on Thursday, October 25th. Cantor Fitzgerald restated a “buy” rating and issued a $145.00 price objective on shares of Centene in a research report on Thursday, December 13th. Goldman Sachs Group cut shares of Centene from a “conviction-buy” rating to a “buy” rating in a research report on Monday, December 17th. Finally, ValuEngine cut shares of Centene from a “buy” rating to a “hold” rating in a research report on Monday, December 17th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $154.98.
Centene Company Profile
Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. It operates through two segments, Managed Care and Specialty Services. The Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term care, foster care, and dual eligible individual, as well as aged, blind, or disabled programs.
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