AdvisorNet Financial Inc Has $521,000 Stock Position in Centene Co. (NYSE:CNC)

AdvisorNet Financial Inc cut its holdings in Centene Co. (NYSE:CNC) by 19.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,606 shares of the company’s stock after selling 2,019 shares during the period. AdvisorNet Financial Inc’s holdings in Centene were worth $521,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Harris Associates L P increased its holdings in shares of Centene by 5.7% during the 3rd quarter. Harris Associates L P now owns 26,314,183 shares of the company’s stock valued at $1,980,932,000 after acquiring an additional 1,420,825 shares during the last quarter. AQR Capital Management LLC grew its holdings in Centene by 22.9% during the second quarter. AQR Capital Management LLC now owns 4,461,517 shares of the company’s stock valued at $295,799,000 after purchasing an additional 832,318 shares during the last quarter. Legal & General Group Plc raised its position in shares of Centene by 14.2% in the second quarter. Legal & General Group Plc now owns 5,113,759 shares of the company’s stock valued at $339,042,000 after purchasing an additional 636,683 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Centene by 15.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 3,203,049 shares of the company’s stock worth $241,126,000 after buying an additional 428,100 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in Centene by 42.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,400,276 shares of the company’s stock valued at $92,838,000 after buying an additional 416,003 shares during the last quarter. 93.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on CNC shares. StockNews.com lowered shares of Centene from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 28th. Robert W. Baird decreased their target price on Centene from $83.00 to $66.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Sanford C. Bernstein reduced their price objective on Centene from $96.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Jefferies Financial Group cut Centene from a “hold” rating to an “underperform” rating and lowered their price objective for the company from $68.00 to $52.00 in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company decreased their price target on shares of Centene from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. One research 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. According to data from MarketBeat, Centene presently has an average rating of “Moderate Buy” and an average target price of $80.92.

Centene Price Performance

Centene stock opened at $63.23 on Thursday. The firm has a market capitalization of $31.92 billion, a P/E ratio of 10.98, a PEG ratio of 0.82 and a beta of 0.46. The business has a 50-day moving average of $60.06 and a 200-day moving average of $67.41. 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 1 year low of $55.03 and a 1 year high of $81.42.

Insider Activity at Centene

In related news, Director Thomas Greco bought 17,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were purchased at an average cost of $59.75 per share, for a total transaction of $1,015,750.00. Following the acquisition, the director now owns 19,309 shares of the company’s stock, valued at approximately $1,153,712.75. This represents a 736.25 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sarah London acquired 4,117 shares of the stock in a transaction dated Friday, November 8th. The shares were bought 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 of the company’s stock, valued at $40,567,523.20. This represents a 0.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 45,010 shares of company stock worth $2,660,276. 0.33% of the stock is currently owned by company insiders.

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.