Oppenheimer & Co. Inc. Trims Stock Holdings in Centene Co. (NYSE:CNC)

Oppenheimer & Co. Inc. lessened its stake in shares of Centene Co. (NYSE:CNC) by 6.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,643 shares of the company’s stock after selling 1,926 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Centene were worth $2,081,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vantage Investment Partners LLC increased its holdings in Centene by 17.1% in the 3rd quarter. Vantage Investment Partners LLC now owns 683,817 shares of the company’s stock valued at $51,478,000 after purchasing an additional 99,904 shares during the last quarter. Diversified Trust Co lifted its stake in Centene by 35.8% during the 2nd quarter. Diversified Trust Co now owns 28,009 shares of the company’s stock worth $1,857,000 after acquiring an additional 7,385 shares in the last quarter. Bessemer Group Inc. boosted 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 acquiring an additional 15,819 shares during the period. Comerica Bank increased its stake in Centene by 7.3% during the first quarter. Comerica Bank now owns 118,597 shares of the company’s stock worth $9,307,000 after purchasing an additional 8,103 shares during the period. Finally, National Pension Service lifted its position in shares of Centene by 15.4% during the third quarter. National Pension Service now owns 1,435,482 shares of the company’s stock worth $108,063,000 after purchasing an additional 191,768 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Stock Performance

NYSE CNC opened at $57.46 on Friday. The company has a fifty day moving average of $68.06 and a two-hundred day moving average of $71.01. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10. Centene Co. has a 1 year low of $57.25 and a 1 year high of $81.42. The company has a market capitalization of $29.01 billion, a PE ratio of 9.98, a P/E/G ratio of 0.80 and a beta of 0.49.

Analyst Ratings Changes

CNC has been the topic of several recent research reports. TD Cowen upped their target price on shares of Centene from $80.00 to $89.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Robert W. Baird reduced their price objective on Centene from $83.00 to $66.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Stephens reissued an “equal weight” rating and set a $78.00 target price on shares of Centene in a research note on Monday, August 5th. Jefferies Financial Group lowered Centene from a “buy” rating to a “hold” rating and reduced their price target for the company from $83.00 to $69.00 in a research report on Wednesday, July 24th. Finally, Barclays cut their target price on shares of Centene from $97.00 to $91.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.92.

Insider Activity at Centene

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

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.