National Pension Service grew its position in shares of Centene Co. (NYSE:CNC – Free Report) by 15.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,435,482 shares of the company’s stock after buying an additional 191,768 shares during the quarter. National Pension Service’s holdings in Centene were worth $108,063,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Centene by 18.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 624,944 shares of the company’s stock worth $49,046,000 after acquiring an additional 98,298 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in Centene by 435.0% during the first quarter. GSA Capital Partners LLP now owns 20,052 shares of the company’s stock valued at $1,574,000 after purchasing an additional 16,304 shares in the last quarter. Diversified Trust Co boosted its holdings in shares of Centene by 35.8% in the 2nd quarter. Diversified Trust Co now owns 28,009 shares of the company’s stock worth $1,857,000 after acquiring an additional 7,385 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Centene by 189.6% in the 1st quarter. Bessemer Group Inc. now owns 24,162 shares of the company’s stock worth $1,895,000 after acquiring an additional 15,819 shares in the last quarter. Finally, Comerica Bank boosted its holdings in shares of Centene by 7.3% in the 1st quarter. Comerica Bank now owns 118,597 shares of the company’s stock worth $9,307,000 after acquiring an additional 8,103 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms recently weighed in on CNC. JPMorgan Chase & Co. dropped their price objective on shares of Centene from $85.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Sanford C. Bernstein dropped their target price on shares of Centene from $96.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Wells Fargo & Company dropped their target price on shares of Centene from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday. Robert W. Baird dropped their target price on shares of Centene from $83.00 to $66.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 target price on shares of Centene in a research report on Tuesday, October 1st. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $83.92.
Centene Stock Up 0.5 %
Shares of CNC stock opened at $63.82 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.17 and a current ratio of 1.10. The firm’s 50-day moving average is $70.97 and its 200-day moving average is $71.89. The stock has a market cap of $32.22 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 0.85 and a beta of 0.49. Centene Co. has a 52-week low of $59.77 and a 52-week high of $81.42.
About Centene
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.
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