Centene Co. (NYSE:CNC) Shares Bought by KBC Group NV

KBC Group NV lifted its stake in shares of Centene Co. (NYSE:CNC) by 27.3% during the fourth quarter, Holdings Channel reports. The firm owned 1,602,533 shares of the company’s stock after buying an additional 343,559 shares during the period. KBC Group NV’s holdings in Centene were worth $97,082,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CNC. Park Place Capital Corp grew its position in Centene by 1,190.0% in 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 last quarter. Private Trust Co. NA increased 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 in the last quarter. True Wealth Design LLC purchased a new stake in shares of Centene during the third quarter valued at $66,000. Venturi Wealth Management LLC boosted its holdings in shares of Centene by 77.3% in the third quarter. Venturi Wealth Management LLC now owns 1,163 shares of the company’s stock worth $88,000 after buying an additional 507 shares during the period. Finally, Cromwell Holdings LLC boosted its stake in Centene by 588.0% in the 3rd quarter. Cromwell Holdings LLC now owns 1,266 shares of the company’s stock worth $95,000 after purchasing an additional 1,082 shares during the period. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Down 0.8 %

NYSE CNC opened at $64.61 on Monday. Centene Co. has a twelve month low of $55.03 and a twelve month high of $81.42. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market cap of $32.62 billion, a PE ratio of 11.22, a PEG ratio of 0.85 and a beta of 0.45. The firm has a 50-day simple moving average of $60.63 and a 200 day simple moving average of $67.24.

Insiders Place Their Bets

In other Centene news, Director H James Dallas bought 1,693 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were acquired at an average cost of $59.01 per share, for a total transaction of $99,903.93. Following the transaction, the director now owns 1,693 shares in the company, valued at approximately $99,903.93. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Thomas Greco purchased 17,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was acquired at an average cost of $59.75 per share, with a total value of $1,015,750.00. Following the transaction, the director now directly owns 19,309 shares of the company’s stock, valued at approximately $1,153,712.75. This represents a 736.25 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders bought 45,010 shares of company stock worth $2,660,276. 0.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CNC shares. Stephens lowered their target price on Centene from $75.00 to $73.00 and set an “equal weight” rating on the stock in a research note on Friday, December 13th. Truist Financial cut their target price on Centene from $89.00 to $84.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Sanford C. Bernstein lowered their price target on Centene from $96.00 to $88.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $75.00 price objective (down from $80.00) on shares of Centene in a report on Tuesday, December 17th. Finally, Oppenheimer dropped their target price on shares of Centene from $95.00 to $85.00 and set an “outperform” rating on the stock in a report on Friday, December 13th. 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $80.92.

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.