Avior Wealth Management LLC Lowers Stake in Centene Co. (NYSE:CNC)

Avior Wealth Management LLC trimmed its position in shares of Centene Co. (NYSE:CNC) by 6.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,953 shares of the company’s stock after selling 437 shares during the period. Avior Wealth Management LLC’s holdings in Centene were worth $448,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Vantage Investment Partners LLC lifted its position in shares of Centene by 17.1% in the third quarter. Vantage Investment Partners LLC now owns 683,817 shares of the company’s stock valued at $51,478,000 after acquiring an additional 99,904 shares in the last quarter. Diversified Trust Co lifted its holdings in Centene by 35.8% in the 2nd quarter. Diversified Trust Co now owns 28,009 shares of the company’s stock worth $1,857,000 after purchasing an additional 7,385 shares in the last quarter. Bessemer Group Inc. grew its holdings in Centene by 189.6% during the 1st quarter. Bessemer Group Inc. now owns 24,162 shares of the company’s stock valued at $1,895,000 after buying an additional 15,819 shares in the last quarter. Comerica Bank raised its position in shares of Centene by 7.3% during the first quarter. Comerica Bank now owns 118,597 shares of the company’s stock valued at $9,307,000 after buying an additional 8,103 shares during the last quarter. Finally, National Pension Service lifted its holdings in shares of Centene by 15.4% in the third quarter. National Pension Service now owns 1,435,482 shares of the company’s stock worth $108,063,000 after buying an additional 191,768 shares in the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Insider Transactions at Centene

In other Centene news, 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 completion of the transaction, the chief executive officer now owns 667,229 shares in the company, valued at approximately $40,567,523.20. This trade represents a 0.62 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Andrew Lynn Asher acquired 17,200 shares of the stock in a transaction dated Wednesday, November 13th. The shares were bought at an average price of $58.14 per share, with a total value of $1,000,008.00. Following the completion of the purchase, the chief financial officer now directly 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 disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

Centene Stock Performance

Shares of NYSE:CNC opened at $60.30 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. Centene Co. has a 12 month low of $57.20 and a 12 month high of $81.42. The company has a market capitalization of $30.44 billion, a price-to-earnings ratio of 10.47, a PEG ratio of 0.79 and a beta of 0.49. The firm’s 50-day moving average is $66.98 and its 200 day moving average is $70.60.

Analysts Set New Price Targets

A number of brokerages have issued reports on CNC. TD Cowen lifted their price target on shares of Centene from $80.00 to $89.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Wells Fargo & Company decreased their target price on Centene from $91.00 to $90.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Robert W. Baird cut their price target on Centene from $83.00 to $66.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Stephens reaffirmed an “equal weight” rating and set a $78.00 price objective on shares of Centene in a report on Monday, August 5th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 price target on shares of Centene in a research report on Tuesday, October 1st. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.