Citigroup Inc. Has $46.98 Million Stake in Centene Co. (NYSE:CNC)

Citigroup Inc. trimmed its holdings in Centene Co. (NYSE:CNC) by 17.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 624,046 shares of the company’s stock after selling 135,354 shares during the period. Citigroup Inc. owned 0.12% of Centene worth $46,978,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. WR Wealth Planners LLC raised its position in shares of Centene by 41.4% in the second quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock valued at $31,000 after buying an additional 137 shares in the last quarter. Whittier Trust Co. raised its position in shares of Centene by 10.0% in the second quarter. Whittier Trust Co. now owns 1,562 shares of the company’s stock valued at $104,000 after buying an additional 142 shares in the last quarter. Mount Yale Investment Advisors LLC raised its position in shares of Centene by 2.1% in the third quarter. Mount Yale Investment Advisors LLC now owns 8,082 shares of the company’s stock valued at $608,000 after buying an additional 167 shares in the last quarter. Meridian Management Co. increased its stake in Centene by 0.3% in the second quarter. Meridian Management Co. now owns 64,721 shares of the company’s stock valued at $4,291,000 after acquiring an additional 189 shares during the last quarter. Finally, E Fund Management Co. Ltd. increased its stake in Centene by 6.4% in the second quarter. E Fund Management Co. Ltd. now owns 3,309 shares of the company’s stock valued at $219,000 after acquiring an additional 199 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CNC has been the topic of a number of recent analyst reports. Sanford C. Bernstein decreased their price objective 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. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Centene from $82.00 to $87.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. TD Cowen lifted their price objective on shares of Centene from $80.00 to $89.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Oppenheimer decreased their price objective on shares of Centene from $110.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. Finally, Robert W. Baird decreased their target price on shares of Centene from $83.00 to $66.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. 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, Centene presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.92.

Centene Stock Performance

Shares of Centene stock opened at $60.37 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64. Centene Co. has a twelve month low of $57.20 and a twelve month high of $81.42. The stock has a market cap of $30.48 billion, a price-to-earnings ratio of 10.48, a P/E/G ratio of 0.83 and a beta of 0.49. The company’s fifty day moving average is $66.68 and its 200 day moving average is $70.43.

Insider Buying and Selling

In other news, CFO Andrew Lynn Asher purchased 17,200 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were acquired at an average price of $58.14 per share, with a total value of $1,000,008.00. Following the completion of the transaction, the chief financial officer now owns 486,847 shares of the company’s stock, valued at $28,305,284.58. The trade was a 3.66 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sarah London purchased 4,117 shares of the business’s stock in a transaction on Friday, November 8th. The shares were purchased 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 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. 0.33% of the stock is currently owned by insiders.

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.