Brooklyn Investment Group Sells 944 Shares of Centene Co. (NYSE:CNC)

Brooklyn Investment Group lessened its stake in shares of Centene Co. (NYSE:CNC) by 26.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,572 shares of the company’s stock after selling 944 shares during the quarter. Brooklyn Investment Group’s holdings in Centene were worth $156,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mount Yale Investment Advisors LLC increased its holdings in shares of Centene by 2.1% in the third quarter. Mount Yale Investment Advisors LLC now owns 8,082 shares of the company’s stock worth $608,000 after purchasing an additional 167 shares during the period. Aptus Capital Advisors LLC grew its holdings in shares of Centene by 6.2% during the third quarter. Aptus Capital Advisors LLC now owns 3,722 shares of the company’s stock worth $280,000 after purchasing an additional 217 shares in the last quarter. CX Institutional increased its position in shares of Centene by 7.3% in the third quarter. CX Institutional now owns 3,919 shares of the company’s stock worth $295,000 after purchasing an additional 266 shares during the last quarter. Forte Capital LLC ADV raised its stake in Centene by 5.5% in the third quarter. Forte Capital LLC ADV now owns 5,320 shares of the company’s stock valued at $400,000 after purchasing an additional 275 shares in the last quarter. Finally, GAM Holding AG lifted its position in Centene by 0.3% during the third quarter. GAM Holding AG now owns 88,973 shares of the company’s stock valued at $6,698,000 after purchasing an additional 288 shares during the last quarter. 93.63% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Andrew Lynn Asher purchased 17,200 shares of Centene stock in a transaction that occurred on Wednesday, November 13th. The shares were bought at an average cost of $58.14 per share, with a total value of $1,000,008.00. Following the completion of the purchase, the chief financial officer now directly owns 486,847 shares in the company, valued at approximately $28,305,284.58. This trade represents a 3.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sarah London acquired 4,117 shares of the stock in a transaction on Friday, November 8th. The shares were purchased 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 directly owns 667,229 shares of the company’s stock, valued at approximately $40,567,523.20. This trade represents a 0.62 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 45,010 shares of company stock valued at $2,660,276. Company insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

CNC has been the topic of several research reports. Stephens lowered their price objective on shares of Centene from $75.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Friday, December 13th. Truist Financial dropped their price target on Centene from $89.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Oppenheimer decreased their price objective on Centene from $95.00 to $85.00 and set an “outperform” rating on the stock in a report on Friday, December 13th. StockNews.com lowered Centene from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 price target on shares of Centene in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $80.92.

Centene Stock Performance

Centene stock opened at $62.19 on Friday. Centene Co. has a 1-year low of $55.03 and a 1-year high of $81.42. The firm has a market cap of $31.40 billion, a P/E ratio of 10.80, a P/E/G ratio of 0.83 and a beta of 0.45. 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 firm has a 50-day moving average of $60.12 and a 200-day moving average of $67.33.

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.