Centene Co. (NYSE:CNC) Stock Position Lowered by Townsquare Capital LLC

Townsquare Capital LLC lowered its position in shares of Centene Co. (NYSE:CNC) by 1.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 64,260 shares of the company’s stock after selling 755 shares during the period. Townsquare Capital LLC’s holdings in Centene were worth $4,837,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in shares of Centene by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,491,968 shares of the company’s stock valued at $364,117,000 after acquiring an additional 25,595 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Centene by 14.2% during the second quarter. Legal & General Group Plc now owns 5,113,759 shares of the company’s stock valued at $339,042,000 after purchasing an additional 636,683 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Centene by 8.9% in the 2nd 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 period. AQR Capital Management LLC raised its holdings in Centene by 22.9% during the 2nd quarter. AQR Capital Management LLC now owns 4,461,517 shares of the company’s stock worth $295,799,000 after buying an additional 832,318 shares during the period. Finally, Deerfield Management Company L.P. Series C lifted its stake in Centene by 11.3% during the second quarter. Deerfield Management Company L.P. Series C now owns 2,650,122 shares of the company’s stock valued at $175,703,000 after buying an additional 269,078 shares in the last quarter. 93.63% of the stock is owned by institutional investors and hedge funds.

Centene Price Performance

NYSE CNC opened at $59.93 on Friday. The company has a 50 day moving average price of $65.43 and a two-hundred day moving average price of $70.04. Centene Co. has a 12-month low of $57.20 and a 12-month high of $81.42. 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 has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CNC shares. Wells Fargo & Company cut their price target on shares of Centene from $91.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Barclays reduced their target price on Centene from $97.00 to $91.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Robert W. Baird lowered their price target on Centene from $83.00 to $66.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. StockNews.com downgraded Centene from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Finally, Sanford C. Bernstein dropped their target price on Centene from $96.00 to $88.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Seven equities 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 company presently has an average rating of “Moderate Buy” and an average price target of $83.92.

Insider Activity at Centene

In related news, CEO Sarah London bought 4,117 shares of Centene stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average cost of $60.80 per share, for a total transaction of $250,313.60. Following the acquisition, the chief executive officer now owns 667,229 shares in the company, valued at $40,567,523.20. This trade represents 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 purchased 17,200 shares of the stock in a transaction on Wednesday, November 13th. The shares were bought at an average price 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. The trade was a 3.66 % increase in their ownership of the stock. 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.