HBW Advisory Services LLC Cuts Stock Holdings in Centene Co. (NYSE:CNC)

HBW Advisory Services LLC trimmed its position in shares of Centene Co. (NYSE:CNC) by 87.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,501 shares of the company’s stock after selling 30,934 shares during the period. HBW Advisory Services LLC’s holdings in Centene were worth $273,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Commonwealth Equity Services LLC lifted its stake in shares of Centene by 5.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 27,391 shares of the company’s stock valued at $1,816,000 after purchasing an additional 1,364 shares in the last quarter. Choreo LLC purchased a new stake in Centene during the second quarter worth approximately $858,000. American Century Companies Inc. increased its position in shares of Centene by 7.7% in the second quarter. American Century Companies Inc. now owns 1,922,631 shares of the company’s stock worth $127,470,000 after acquiring an additional 137,547 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Centene by 8.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 630,687 shares of the company’s stock valued at $42,377,000 after acquiring an additional 49,808 shares in the last quarter. Finally, Meeder Advisory Services Inc. boosted its position in Centene by 30.1% during the 2nd quarter. Meeder Advisory Services Inc. now owns 7,441 shares of the company’s stock worth $493,000 after purchasing an additional 1,720 shares during the period. 93.63% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Centene news, Director H James Dallas purchased 1,693 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was acquired at an average cost of $59.01 per share, with a total value of $99,903.93. Following the acquisition, the director now owns 1,693 shares of the company’s stock, valued at approximately $99,903.93. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sarah London acquired 4,117 shares of the company’s stock in a transaction that occurred 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 purchase, the chief executive officer now owns 667,229 shares of the company’s stock, valued at $40,567,523.20. This trade represents a 0.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 45,010 shares of company stock valued at $2,660,276 over the last 90 days. 0.33% of the stock is owned by company insiders.

Centene Price Performance

Shares of CNC opened at $61.72 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 firm has a market cap of $31.16 billion, a price-to-earnings ratio of 10.72, a PEG ratio of 0.78 and a beta of 0.45. Centene Co. has a 52 week low of $55.03 and a 52 week high of $81.42. The stock has a 50 day moving average of $60.09 and a 200-day moving average of $67.45.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Barclays boosted their price objective on Centene from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. StockNews.com cut Centene from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Truist Financial dropped their price objective on shares of Centene from $89.00 to $84.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price target on shares of Centene in a report on Wednesday, December 11th. Finally, Stephens cut their price objective on shares of Centene from $75.00 to $73.00 and set an “equal weight” rating on the stock in a report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Centene currently has an average rating of “Moderate Buy” and a consensus target price of $80.92.

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.