MetLife Investment Management LLC Cuts Position in Centene Co. (NYSE:CNC)

MetLife Investment Management LLC cut its position in Centene Co. (NYSE:CNC) by 3.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,774 shares of the company’s stock after selling 5,563 shares during the quarter. MetLife Investment Management LLC’s holdings in Centene were worth $10,296,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Park Place Capital Corp increased its stake in Centene by 1,190.0% during the third 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 increased its stake in Centene by 41.4% during the 2nd 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 stake in Centene during the 2nd quarter worth approximately $33,000. Riverview Trust Co boosted its position in Centene by 154.6% in the 2nd quarter. Riverview Trust Co now owns 527 shares of the company’s stock valued at $35,000 after buying an additional 320 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Centene during the second quarter worth $36,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Barclays lowered their target price on Centene from $97.00 to $91.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Wells Fargo & Company cut their target price on shares of Centene from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Robert W. Baird decreased their price target on shares of Centene from $83.00 to $66.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Sanford C. Bernstein dropped their price objective on shares of Centene from $96.00 to $88.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.92.

Centene Price Performance

Shares of NYSE CNC opened at $59.93 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64. The stock has a market cap 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 stock has a 50 day moving average of $65.43 and a two-hundred day moving average of $70.04. Centene Co. has a twelve month low of $57.20 and a twelve month high of $81.42.

Insider Buying and Selling

In related news, CEO Sarah London acquired 4,117 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was bought at an average cost of $60.80 per share, with a total value of $250,313.60. Following the transaction, the chief executive officer now owns 667,229 shares of the company’s stock, valued at $40,567,523.20. The trade was a 0.62 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Andrew Lynn Asher bought 17,200 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was 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. This trade represents a 3.66 % increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is owned by company 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.