Centene Co. (NYSE:CNC) Shares Acquired by Glenmede Trust Co. NA

Glenmede Trust Co. NA boosted its holdings in Centene Co. (NYSE:CNC) by 3.5% during the third quarter, HoldingsChannel reports. The fund owned 249,105 shares of the company’s stock after buying an additional 8,316 shares during the period. Glenmede Trust Co. NA’s holdings in Centene were worth $18,753,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CNC. Park Place Capital Corp grew its holdings in shares of Centene by 1,190.0% during the 3rd quarter. Park Place Capital Corp now owns 387 shares of the company’s stock worth $29,000 after purchasing an additional 357 shares during the period. WR Wealth Planners LLC boosted its stake in 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 buying an additional 137 shares during the period. Chris Bulman Inc purchased a new stake in shares of Centene in the 2nd quarter valued at approximately $33,000. Riverview Trust Co lifted its holdings in shares of Centene by 154.6% in the 2nd quarter. Riverview Trust Co now owns 527 shares of the company’s stock worth $35,000 after acquiring an additional 320 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Centene during the second quarter worth $36,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Insider Transactions at Centene

In other Centene news, CEO Sarah London acquired 4,117 shares of the company’s stock in a transaction on Friday, November 8th. The shares were bought at an average cost of $60.80 per share, for a total transaction of $250,313.60. Following the completion of 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 purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Andrew Lynn Asher purchased 17,200 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were bought at an average cost of $58.14 per share, for a total transaction of $1,000,008.00. Following the acquisition, the chief financial officer now owns 486,847 shares of the company’s stock, valued at approximately $28,305,284.58. The trade was a 3.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.29% of the company’s stock.

Centene Price Performance

Shares of NYSE:CNC opened at $59.93 on Friday. Centene Co. has a 12 month low of $57.20 and a 12 month high of $81.42. The firm has a market capitalization of $30.26 billion, a P/E ratio of 10.40, a P/E/G ratio of 0.84 and a beta of 0.49. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10. The company’s fifty day moving average price is $65.43 and its 200 day moving average price is $70.04.

Analysts Set New Price Targets

Several equities analysts have commented on CNC shares. StockNews.com cut shares of Centene from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 28th. Barclays cut their price target on Centene from $97.00 to $91.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Stephens reiterated an “equal weight” rating and issued a $78.00 price objective on shares of Centene in a research note on Monday, August 5th. Sanford C. Bernstein cut their target price on shares of Centene from $96.00 to $88.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price target on shares of Centene in a research note on Tuesday, October 1st. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.