Centene Co. (NYSE:CNC) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P trimmed its holdings in shares of Centene Co. (NYSE:CNC) by 31.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 236,081 shares of the company’s stock after selling 109,326 shares during the quarter. Martingale Asset Management L P’s holdings in Centene were worth $17,772,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Park Place Capital Corp increased its position in shares of Centene by 1,190.0% during the third quarter. Park Place Capital Corp now owns 387 shares of the company’s stock worth $29,000 after purchasing an additional 357 shares in the last quarter. WR Wealth Planners LLC increased its position in shares of Centene by 41.4% during the second quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock worth $31,000 after purchasing an additional 137 shares in the last quarter. Chris Bulman Inc purchased a new stake in shares of Centene during the second quarter worth approximately $33,000. Riverview Trust Co increased its position in shares of Centene by 154.6% during the second quarter. Riverview Trust Co now owns 527 shares of the company’s stock worth $35,000 after purchasing an additional 320 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Centene during the second quarter worth approximately $36,000. 93.63% of the stock is owned by institutional investors and hedge funds.

Centene Price Performance

CNC opened at $59.93 on Friday. The stock’s 50-day moving average price is $65.43 and its 200 day moving average price is $70.04. Centene Co. has a 12-month low of $57.20 and a 12-month high of $81.42. 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 $30.26 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 0.82 and a beta of 0.49.

Insider Buying and Selling

In related news, CFO Andrew Lynn Asher purchased 17,200 shares of Centene stock in a transaction on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sarah London purchased 4,117 shares of Centene stock in a transaction on Friday, November 8th. The stock was bought at an average cost of $60.80 per share, for a total transaction of $250,313.60. Following the transaction, the chief executive officer now directly owns 667,229 shares in the company, 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. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on CNC shares. Deutsche Bank Aktiengesellschaft boosted their price target on Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Stephens restated an “equal weight” rating and issued a $78.00 target price on shares of Centene in a report on Monday, August 5th. Sanford C. Bernstein dropped their target price on Centene from $96.00 to $88.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Robert W. Baird dropped their target price on Centene from $83.00 to $66.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Finally, Wells Fargo & Company dropped their target price on Centene from $91.00 to $90.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.92.

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.