Summit Trail Advisors LLC Grows Holdings in Centene Co. (NYSE:CNC)

Summit Trail Advisors LLC raised its position in Centene Co. (NYSE:CNC) by 15.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,054 shares of the company’s stock after purchasing an additional 686 shares during the period. Summit Trail Advisors LLC’s holdings in Centene were worth $380,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Park Place Capital Corp grew its stake in Centene by 1,190.0% during the 3rd quarter. Park Place Capital Corp now owns 387 shares of the company’s stock valued at $29,000 after purchasing an additional 357 shares in the last quarter. WR Wealth Planners LLC increased its stake in shares of Centene by 41.4% in the second quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock worth $31,000 after buying an additional 137 shares during the last quarter. Chris Bulman Inc acquired a new stake in Centene in the second quarter valued at $33,000. Riverview Trust Co boosted its stake in Centene by 154.6% during the 2nd quarter. Riverview Trust Co now owns 527 shares of the company’s stock valued at $35,000 after acquiring an additional 320 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Centene in the 2nd quarter worth about $36,000. 93.63% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Sarah London purchased 4,117 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was purchased at an average cost of $60.80 per share, with a total value of $250,313.60. Following the purchase, the chief executive officer now owns 667,229 shares in the company, valued at $40,567,523.20. This trade represents a 0.62 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Andrew Lynn Asher acquired 17,200 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was purchased at an average cost of $58.14 per share, for a total transaction of $1,000,008.00. Following the purchase, the chief financial officer now directly owns 486,847 shares in the company, valued at approximately $28,305,284.58. This represents a 3.66 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company’s stock.

Centene Trading Down 2.3 %

Shares of CNC stock opened at $60.00 on Wednesday. The firm has a market capitalization of $30.29 billion, a PE ratio of 10.42, a price-to-earnings-growth ratio of 0.83 and a beta of 0.49. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.10 and a current ratio of 1.10. Centene Co. has a 1 year low of $57.20 and a 1 year high of $81.42. The stock has a fifty day moving average of $66.07 and a two-hundred day moving average of $70.19.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CNC shares. Robert W. Baird decreased their price target on Centene from $83.00 to $66.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price target on shares of Centene in a report on Tuesday, October 1st. Sanford C. Bernstein decreased 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. Wells Fargo & Company dropped their target price on shares of Centene from $91.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Finally, StockNews.com lowered shares of Centene from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.