Summit Global Investments Sells 56,664 Shares of Centene Co. (NYSE:CNC)

Summit Global Investments lowered its position in Centene Co. (NYSE:CNC) by 82.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 12,145 shares of the company’s stock after selling 56,664 shares during the quarter. Summit Global Investments’ holdings in Centene were worth $914,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Swedbank AB bought a new position in shares of Centene in the first quarter worth about $914,080,000. Boston Partners raised its position in shares of Centene by 0.4% during the first quarter. Boston Partners now owns 8,652,177 shares of the company’s stock valued at $678,033,000 after buying an additional 32,427 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Centene by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 5,491,968 shares of the company’s stock worth $364,117,000 after buying an additional 25,595 shares in the last quarter. Capital International Investors boosted its position in shares of Centene by 60.2% during the first quarter. Capital International Investors now owns 5,216,486 shares of the company’s stock worth $409,390,000 after acquiring an additional 1,959,460 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in Centene by 14.2% in the 2nd quarter. Legal & General Group Plc now owns 5,113,759 shares of the company’s stock valued at $339,042,000 after acquiring an additional 636,683 shares during the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Insider Activity at Centene

In other Centene news, CEO Sarah London bought 4,117 shares of Centene stock in a transaction on Friday, November 8th. The shares were acquired at an average price of $60.80 per share, for a total transaction of $250,313.60. Following the completion of the purchase, the chief executive officer now directly owns 667,229 shares in the company, valued at approximately $40,567,523.20. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on CNC shares. Barclays cut their price objective on Centene from $97.00 to $91.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Jefferies Financial Group downgraded Centene from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $83.00 to $69.00 in a research note on Wednesday, July 24th. Robert W. Baird lowered their target price on Centene from $83.00 to $66.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Finally, Sanford C. Bernstein lowered their price objective on shares of Centene from $96.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.92.

Centene Stock Down 3.8 %

Shares of NYSE:CNC opened at $60.15 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10. The business has a 50 day simple moving average of $69.71 and a two-hundred day simple moving average of $71.58. Centene Co. has a 1 year low of $59.77 and a 1 year high of $81.42. The firm has a market capitalization of $30.37 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 0.86 and a beta of 0.49.

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.