Quantbot Technologies LP Sells 131,648 Shares of Centene Co. (NYSE:CNC)

Quantbot Technologies LP lessened its holdings in Centene Co. (NYSE:CNC) by 81.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,932 shares of the company’s stock after selling 131,648 shares during the period. Quantbot Technologies LP’s holdings in Centene were worth $2,329,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its stake in Centene by 22.9% during the second quarter. AQR Capital Management LLC now owns 4,461,517 shares of the company’s stock worth $295,799,000 after acquiring an additional 832,318 shares in the last quarter. Legal & General Group Plc boosted its stake in Centene by 14.2% in the second quarter. Legal & General Group Plc now owns 5,113,759 shares of the company’s stock valued at $339,042,000 after acquiring an additional 636,683 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Centene by 42.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,400,276 shares of the company’s stock worth $92,838,000 after purchasing an additional 416,003 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Centene by 8.9% in the second quarter. Dimensional Fund Advisors LP now owns 4,707,648 shares of the company’s stock valued at $312,150,000 after purchasing an additional 385,426 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in Centene by 128.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 580,879 shares of the company’s stock worth $45,241,000 after buying an additional 326,468 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.

Centene Trading Down 0.1 %

Shares of NYSE:CNC opened at $59.93 on Friday. The stock has a market capitalization of $30.26 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 0.84 and a beta of 0.49. The company’s 50-day moving average price is $65.43 and its two-hundred day moving average price is $70.04. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10. Centene Co. has a one year low of $57.20 and a one year high of $81.42.

Insider Activity at Centene

In other Centene news, CFO Andrew Lynn Asher acquired 17,200 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were purchased at an average price of $58.14 per share, for a total transaction of $1,000,008.00. Following the completion of the purchase, the chief financial officer now directly owns 486,847 shares of the company’s stock, valued at approximately $28,305,284.58. This represents a 3.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sarah London bought 4,117 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were acquired at an average cost of $60.80 per share, for a total transaction of $250,313.60. Following the completion of the acquisition, the chief executive officer now directly 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 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CNC. StockNews.com downgraded shares of Centene from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 28th. Wells Fargo & Company reduced their price target on shares of Centene from $91.00 to $90.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Barclays lowered their price objective on shares of Centene from $97.00 to $91.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Robert W. Baird reduced their target price on Centene from $83.00 to $66.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Finally, Stephens restated an “equal weight” rating and issued a $78.00 price target on shares of Centene in a report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.92.

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.