BNP Paribas Financial Markets Grows Stock Position in Centene Co. (NYSE:CNC)

BNP Paribas Financial Markets increased its holdings in Centene Co. (NYSE:CNC) by 2.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 654,251 shares of the company’s stock after acquiring an additional 18,066 shares during the period. BNP Paribas Financial Markets’ holdings in Centene were worth $49,252,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Park Place Capital Corp grew its holdings in shares of 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 increased its position in shares of Centene by 41.4% during the second quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock valued at $31,000 after acquiring an additional 137 shares during the last quarter. Chris Bulman Inc purchased a new stake in shares of Centene in the 2nd quarter valued at approximately $33,000. Riverview Trust Co lifted its holdings in shares of Centene by 154.6% in the 2nd quarter. Riverview Trust Co now owns 527 shares of the company’s stock worth $35,000 after acquiring an additional 320 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Centene during the 2nd quarter worth approximately $36,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Performance

Shares of CNC opened at $59.93 on Friday. 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 52-week low of $57.20 and a 52-week high of $81.42. The stock has a 50 day moving average price of $65.43 and a 200 day moving average price of $70.04. The company has a market capitalization of $30.26 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 0.84 and a beta of 0.49.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Barclays decreased their price target on Centene from $97.00 to $91.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Wells Fargo & Company dropped their target price on Centene from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Robert W. Baird lowered their price objective 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. StockNews.com downgraded shares of Centene from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Finally, Stephens restated an “equal weight” rating and issued a $78.00 price target on shares of Centene in a research note on Monday, August 5th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.92.

Insider Activity

In other news, CFO Andrew Lynn Asher bought 17,200 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was purchased at an average cost of $58.14 per share, with a total value of $1,000,008.00. Following the transaction, the chief financial officer now directly owns 486,847 shares in the company, valued at $28,305,284.58. This trade represents a 3.66 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 owns 667,229 shares of the company’s stock, valued at $40,567,523.20. This trade represents a 0.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company’s stock.

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.