Centene Co. (NYSE:CNC) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC increased its position in shares of Centene Co. (NYSE:CNC) by 35.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,914 shares of the company’s stock after buying an additional 1,028 shares during the period. GAMMA Investing LLC’s holdings in Centene were worth $237,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mount Yale Investment Advisors LLC grew its position in shares of Centene by 2.1% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 8,082 shares of the company’s stock valued at $608,000 after acquiring an additional 167 shares during the period. Meridian Management Co. increased its position in shares of Centene by 0.3% in the second quarter. Meridian Management Co. now owns 64,721 shares of the company’s stock valued at $4,291,000 after buying an additional 189 shares in the last quarter. E Fund Management Co. Ltd. lifted its position in shares of Centene by 6.4% during the 2nd quarter. E Fund Management Co. Ltd. now owns 3,309 shares of the company’s stock valued at $219,000 after buying an additional 199 shares in the last quarter. Aptus Capital Advisors LLC grew its stake in Centene by 6.2% in the 3rd quarter. Aptus Capital Advisors LLC now owns 3,722 shares of the company’s stock valued at $280,000 after acquiring an additional 217 shares during the period. Finally, CX Institutional raised its position in Centene by 7.3% during the third quarter. CX Institutional now owns 3,919 shares of the company’s stock worth $295,000 after acquiring an additional 266 shares during the period. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CNC shares. Barclays boosted their target price 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. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 target price on shares of Centene in a research report on Wednesday, December 11th. Truist Financial reduced their price objective on Centene from $89.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, December 13th. UBS Group raised shares of Centene from a “neutral” rating to a “buy” rating and upped their target price for the stock from $79.00 to $80.00 in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $75.00 price target (down from $80.00) on shares of Centene in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Centene has an average rating of “Moderate Buy” and an average price target of $80.92.

Insider Activity

In other news, CFO Andrew Lynn Asher purchased 17,200 shares of the stock in a transaction dated Wednesday, November 13th. The stock was acquired at an average cost of $58.14 per share, for a total transaction of $1,000,008.00. Following the completion of the transaction, the chief financial officer now directly owns 486,847 shares in the company, valued at approximately $28,305,284.58. This represents a 3.66 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sarah London acquired 4,117 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average price of $60.80 per share, for a total transaction of $250,313.60. Following 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 disclosure for this purchase can be found here. Insiders have acquired a total of 45,010 shares of company stock valued at $2,660,276 in the last quarter. Insiders own 0.33% of the company’s stock.

Centene Trading Down 0.3 %

CNC opened at $62.52 on Wednesday. The business’s 50 day moving average price is $60.08 and its 200 day moving average price is $67.56. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market capitalization of $31.56 billion, a PE ratio of 10.85, a P/E/G ratio of 0.78 and a beta of 0.45. Centene Co. has a one year low of $55.03 and a one year high of $81.42.

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.