MAI Capital Management Trims Position in Centene Co. (NYSE:CNC)

MAI Capital Management decreased its holdings in Centene Co. (NYSE:CNC) by 12.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,659 shares of the company’s stock after selling 788 shares during the quarter. MAI Capital Management’s holdings in Centene were worth $426,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Park Place Capital Corp increased its position in shares of Centene by 1,190.0% during the third quarter. Park Place Capital Corp now owns 387 shares of the company’s stock valued at $29,000 after buying an additional 357 shares during the period. WR Wealth Planners LLC grew its holdings in shares of Centene by 41.4% during the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock worth $31,000 after acquiring an additional 137 shares during the period. Chris Bulman Inc bought a new position in shares of Centene in the 2nd quarter worth approximately $33,000. Riverview Trust Co boosted its position in shares of Centene by 154.6% during the second quarter. Riverview Trust Co now owns 527 shares of the company’s stock valued at $35,000 after purchasing an additional 320 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Centene in the second quarter worth $36,000. Institutional investors own 93.63% of the company’s stock.

Insider Activity

In other news, CFO Andrew Lynn Asher bought 17,200 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were acquired at an average cost of $58.14 per share, with a total value of $1,000,008.00. Following the completion of the transaction, the chief financial officer now owns 486,847 shares of the company’s stock, valued at approximately $28,305,284.58. This trade represents a 3.66 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sarah London purchased 4,117 shares of Centene stock in a transaction dated Friday, November 8th. The shares were acquired at an average cost of $60.80 per share, with a total value of $250,313.60. Following the transaction, the chief executive officer now directly owns 667,229 shares in the company, valued at approximately $40,567,523.20. The trade was 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 corporate insiders.

Wall Street Analysts Forecast Growth

CNC has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Centene from $82.00 to $87.00 and gave the company a “hold” rating in a report on Friday, August 2nd. TD Cowen upped their price objective on shares of Centene from $80.00 to $89.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Stephens reiterated an “equal weight” rating and set a $78.00 target price on shares of Centene in a report on Monday, August 5th. Robert W. Baird reduced their price objective on Centene from $83.00 to $66.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Finally, Wells Fargo & Company dropped their target price on Centene from $91.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.92.

Centene Price Performance

Shares of NYSE:CNC opened at $60.37 on Friday. The business has a 50-day simple moving average of $66.68 and a two-hundred day simple moving average of $70.50. 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 firm has a market cap of $30.48 billion, a price-to-earnings ratio of 10.48, a price-to-earnings-growth ratio of 0.79 and a beta of 0.49. Centene Co. has a fifty-two week low of $57.20 and a fifty-two week 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.