Intech Investment Management LLC Has $1.15 Million Stock Position in Centene Co. (NYSE:CNC)

Intech Investment Management LLC increased its position in shares of Centene Co. (NYSE:CNC) by 212.8% during the third quarter, HoldingsChannel.com reports. The firm owned 15,316 shares of the company’s stock after buying an additional 10,420 shares during the period. Intech Investment Management LLC’s holdings in Centene were worth $1,153,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of CNC. Citizens Financial Group Inc. RI acquired a new position in shares of Centene in the 3rd quarter valued at $227,000. PNC Financial Services Group Inc. raised its position in Centene by 3.8% in the third quarter. PNC Financial Services Group Inc. now owns 73,226 shares of the company’s stock worth $5,512,000 after purchasing an additional 2,656 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Centene during the third quarter valued at approximately $2,566,000. SouthState Corp grew its stake in shares of Centene by 2.7% in the 3rd quarter. SouthState Corp now owns 41,276 shares of the company’s stock valued at $3,107,000 after purchasing an additional 1,102 shares during the period. Finally, Meeder Asset Management Inc. raised its holdings in shares of Centene by 10.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 74,945 shares of the company’s stock worth $5,642,000 after buying an additional 6,937 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Andrew Lynn Asher acquired 17,200 shares of the company’s stock in a transaction that occurred 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 acquisition, 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 position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Sarah London bought 4,117 shares of Centene stock in a transaction on Friday, November 8th. The shares were bought 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 owns 667,229 shares of the company’s stock, valued at approximately $40,567,523.20. The trade was a 0.62 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Robert W. Baird lowered their price target on Centene from $83.00 to $66.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Barclays cut their price target on shares of Centene from $97.00 to $91.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Stephens reaffirmed an “equal weight” rating and set a $78.00 price objective on shares of Centene in a research note on Monday, August 5th. TD Cowen lifted their target price on shares of Centene from $80.00 to $89.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Sanford C. Bernstein dropped their price target on Centene from $96.00 to $88.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $83.92.

Centene Stock Down 2.3 %

Shares of NYSE:CNC opened at $60.00 on Wednesday. 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 stock has a market cap of $30.29 billion, a price-to-earnings ratio of 10.42, a P/E/G ratio of 0.83 and a beta of 0.49. The company has a 50 day moving average of $66.07 and a 200-day moving average of $70.19. Centene Co. has a one year low of $57.20 and a one year 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.