Daiwa Securities Group Inc. Grows Position in Centene Co. (NYSE:CNC)

Daiwa Securities Group Inc. raised its position in Centene Co. (NYSE:CNC) by 31.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 118,810 shares of the company’s stock after purchasing an additional 28,175 shares during the period. Daiwa Securities Group Inc.’s holdings in Centene were worth $8,944,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Park Place Capital Corp boosted its stake in 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 shares of 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 acquired a new position in Centene in the 2nd quarter valued at about $33,000. Riverview Trust Co raised its stake in Centene by 154.6% during the 2nd quarter. Riverview Trust Co now owns 527 shares of the company’s stock valued at $35,000 after acquiring an additional 320 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Centene during the 2nd quarter worth approximately $36,000. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Centene

In related news, CFO Andrew Lynn Asher acquired 17,200 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was purchased at an average cost of $58.14 per share, for a total transaction of $1,000,008.00. Following the transaction, the chief financial officer now directly 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 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. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

CNC has been the subject of several recent research reports. StockNews.com downgraded Centene from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Oppenheimer lowered their target price on shares of Centene from $110.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Centene from $82.00 to $87.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Stephens reiterated an “equal weight” rating and set a $78.00 target price on shares of Centene in a research report on Monday, August 5th. Finally, Wells Fargo & Company reduced their price target on Centene from $91.00 to $90.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.92.

Centene Trading Up 1.8 %

NYSE:CNC opened at $61.43 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64. The stock has a fifty day simple moving average of $66.38 and a 200-day simple moving average of $70.31. Centene Co. has a 52-week low of $57.20 and a 52-week high of $81.42. The company has a market capitalization of $31.01 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 0.83 and a beta of 0.49.

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.