Centene Co. (NYSE:CNC) Position Lowered by Blueshift Asset Management LLC

Blueshift Asset Management LLC lowered its position in shares of Centene Co. (NYSE:CNC) by 30.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,493 shares of the company’s stock after selling 4,560 shares during the quarter. Blueshift Asset Management LLC’s holdings in Centene were worth $790,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on CNC shares. TD Cowen raised their price target on Centene from $80.00 to $89.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 price target on shares of Centene in a report on Tuesday, October 1st. Stephens reaffirmed an “equal weight” rating and issued a $78.00 price objective on shares of Centene in a report on Monday, August 5th. Wells Fargo & Company reduced their target price on shares of Centene from $91.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Centene from $82.00 to $87.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Centene has an average rating of “Moderate Buy” and an average target price of $83.92.

Centene Stock Performance

NYSE:CNC opened at $59.92 on Thursday. 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 company has a 50-day moving average of $65.74 and a 200-day moving average of $70.12. Centene Co. has a twelve month low of $57.20 and a twelve month high of $81.42. The firm has a market cap of $30.25 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 0.84 and a beta of 0.49.

Insider Activity at Centene

In other Centene news, CFO Andrew Lynn Asher bought 17,200 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was acquired at an average price of $58.14 per share, with a total value of $1,000,008.00. Following the completion of the transaction, the chief financial officer now directly owns 486,847 shares in the company, valued at approximately $28,305,284.58. This represents a 3.66 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sarah London purchased 4,117 shares of the company’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 transaction, the chief executive officer now directly owns 667,229 shares of the company’s stock, valued at $40,567,523.20. This trade represents a 0.62 % increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by corporate insiders.

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.