PNC Financial Services Group Inc. Raises Stock Holdings in Centene Co. (NYSE:CNC)

PNC Financial Services Group Inc. boosted its stake in Centene Co. (NYSE:CNC) by 3.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,226 shares of the company’s stock after purchasing an additional 2,656 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Centene were worth $5,512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of CNC. Swedbank AB bought a new stake in shares of Centene during the 1st quarter worth $914,080,000. Boston Partners lifted its stake in Centene by 0.4% during the first quarter. Boston Partners now owns 8,652,177 shares of the company’s stock worth $678,033,000 after purchasing an additional 32,427 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Centene by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,491,968 shares of the company’s stock valued at $364,117,000 after purchasing an additional 25,595 shares during the last quarter. Legal & General Group Plc lifted its position in Centene by 14.2% in the 2nd quarter. Legal & General Group Plc now owns 5,113,759 shares of the company’s stock worth $339,042,000 after buying an additional 636,683 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Centene by 8.9% in the second quarter. Dimensional Fund Advisors LP now owns 4,707,648 shares of the company’s stock worth $312,150,000 after buying an additional 385,426 shares in the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Insider Buying and Selling at Centene

In related news, CFO Andrew Lynn Asher acquired 17,200 shares of the stock in a transaction on Wednesday, November 13th. The stock was acquired 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 represents a 3.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sarah London bought 4,117 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 667,229 shares in the company, valued at $40,567,523.20. The trade was a 0.62 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Centene Trading Up 0.0 %

Shares of CNC opened at $60.37 on Friday. Centene Co. has a 1-year low of $57.20 and a 1-year high of $81.42. The firm has a market capitalization of $30.48 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 0.83 and a beta of 0.49. The firm’s 50-day moving average price is $66.68 and its 200-day moving average price is $70.46. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64.

Analysts Set New Price Targets

CNC has been the subject of a number of recent research reports. 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 report on Wednesday, October 30th. TD Cowen upped their price target on shares of Centene from $80.00 to $89.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lifted their price objective on Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Wells Fargo & Company dropped their target price on Centene from $91.00 to $90.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Finally, Barclays lowered 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. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.92.

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.