Sendero Wealth Management LLC Raises Holdings in Centene Co. (NYSE:CNC)

Sendero Wealth Management LLC increased its position in Centene Co. (NYSE:CNC) by 30.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 81,348 shares of the company’s stock after purchasing an additional 18,808 shares during the period. Sendero Wealth Management LLC’s holdings in Centene were worth $4,928,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Park Place Capital Corp grew 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 acquiring an additional 357 shares during the last quarter. Private Trust Co. NA raised its holdings in shares of Centene by 75.3% in the third quarter. Private Trust Co. NA now owns 773 shares of the company’s stock valued at $58,000 after buying an additional 332 shares during the last quarter. True Wealth Design LLC acquired a new stake in shares of Centene during the third quarter worth about $66,000. EverSource Wealth Advisors LLC grew its holdings in shares of Centene by 104.8% during the second quarter. EverSource Wealth Advisors LLC now owns 1,231 shares of the company’s stock worth $82,000 after buying an additional 630 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its stake in Centene by 77.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,163 shares of the company’s stock valued at $88,000 after acquiring an additional 507 shares during the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Insider Activity at Centene

In related news, Director H James Dallas acquired 1,693 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average cost of $59.01 per share, for a total transaction of $99,903.93. Following the transaction, the director now directly owns 1,693 shares of the company’s stock, valued at approximately $99,903.93. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sarah London bought 4,117 shares of the stock in a transaction on Friday, November 8th. The shares were bought at an average price of $60.80 per share, for a total transaction of $250,313.60. Following the acquisition, the chief executive officer now owns 667,229 shares in the company, valued at $40,567,523.20. The trade was a 0.62 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 45,010 shares of company stock valued at $2,660,276. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on CNC. Wells Fargo & Company lowered their target price on Centene from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. StockNews.com lowered shares of Centene from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 28th. Stephens lowered their target price 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. Oppenheimer cut their price target on shares of Centene from $95.00 to $85.00 and set an “outperform” rating for the company in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $75.00 price objective (down previously from $80.00) on shares of Centene in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $80.92.

Centene Stock Down 0.3 %

CNC opened at $63.23 on Thursday. The company has a market cap of $31.92 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 0.82 and a beta of 0.46. 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 one year low of $55.03 and a one year high of $81.42. The business’s fifty day moving average is $60.06 and its two-hundred day moving average is $67.41.

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.