Assetmark Inc. Grows Stock Holdings in Centene Co. (NYSE:CNC)

Assetmark Inc. lifted its holdings in shares of Centene Co. (NYSE:CNC) by 193.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,640 shares of the company’s stock after acquiring an additional 2,398 shares during the quarter. Assetmark Inc.’s holdings in Centene were worth $274,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Swedbank AB acquired a new position in shares of Centene during the first quarter worth about $914,080,000. Capital International Investors boosted its holdings in Centene by 60.2% in the 1st 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 period. AQR Capital Management LLC raised its stake in shares of Centene by 22.9% during the second quarter. AQR Capital Management LLC now owns 4,461,517 shares of the company’s stock valued at $295,799,000 after purchasing an additional 832,318 shares during the period. Legal & General Group Plc lifted its position in shares of Centene by 14.2% during the second quarter. Legal & General Group Plc now owns 5,113,759 shares of the company’s stock worth $339,042,000 after purchasing an additional 636,683 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in Centene by 42.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,400,276 shares of the company’s stock valued at $92,838,000 after purchasing an additional 416,003 shares in the last quarter. 93.63% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Andrew Lynn Asher purchased 17,200 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were bought at an average price of $58.14 per share, for a total transaction of $1,000,008.00. Following the completion of the purchase, the chief financial officer now owns 486,847 shares of the company’s stock, valued at $28,305,284.58. This trade represents a 3.66 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sarah London acquired 4,117 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was acquired at an average cost of $60.80 per share, with a total value of $250,313.60. Following the completion of the acquisition, the chief executive officer now directly owns 667,229 shares in the company, valued at approximately $40,567,523.20. This represents a 0.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CNC has been the subject of a number of analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price objective on shares of Centene in a research report on Tuesday, October 1st. Wells Fargo & Company lowered their price objective on Centene from $91.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Oppenheimer cut their target price on Centene from $110.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, July 29th. TD Cowen lifted their price target on shares of Centene from $80.00 to $89.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Stephens reiterated an “equal weight” rating and set a $78.00 price objective on shares of Centene in a research note on Monday, August 5th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $83.92.

Centene Stock Down 2.1 %

NYSE:CNC opened at $57.46 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64. The stock has a 50 day moving average of $68.06 and a 200-day moving average of $71.01. The firm has a market capitalization of $29.01 billion, a PE ratio of 9.98, a price-to-earnings-growth ratio of 0.80 and a beta of 0.49. Centene Co. has a 52 week low of $57.25 and a 52 week high of $81.42.

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.