Centene Co. (NYSE:CNC) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its holdings in shares of Centene Co. (NYSE:CNC) by 10.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 371,511 shares of the company’s stock after selling 43,477 shares during the period. The Manufacturers Life Insurance Company’s holdings in Centene were worth $27,967,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. AQR Capital Management LLC grew its holdings in shares of 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 buying an additional 832,318 shares during the last quarter. Legal & General Group Plc grew its stake 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 purchasing an additional 636,683 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in shares of 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 purchasing an additional 416,003 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Centene by 8.9% during the second quarter. Dimensional Fund Advisors LP now owns 4,707,648 shares of the company’s stock worth $312,150,000 after purchasing an additional 385,426 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its position in Centene by 128.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 580,879 shares of the company’s stock valued at $45,241,000 after buying an additional 326,468 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 target price on shares of Centene in a research note on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on Centene from $82.00 to $87.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Wells Fargo & Company cut their target price on Centene from $91.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. 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. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $83.92.

Centene Price Performance

Centene stock opened at $60.01 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. The firm’s 50-day simple moving average is $65.11 and its 200 day simple moving average is $69.93. Centene Co. has a 52 week low of $57.20 and a 52 week high of $81.42. The firm has a market capitalization of $30.30 billion, a PE ratio of 10.42, a P/E/G ratio of 0.82 and a beta of 0.49.

Insider Buying and Selling at Centene

In related news, CFO Andrew Lynn Asher acquired 17,200 shares of Centene stock in a transaction dated Wednesday, November 13th. The shares were acquired at an average cost of $58.14 per share, for a total transaction of $1,000,008.00. Following the completion of the transaction, the chief financial officer now directly owns 486,847 shares of the company’s stock, valued at $28,305,284.58. The trade was a 3.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Sarah London acquired 4,117 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were bought at an average price of $60.80 per share, with a total value of $250,313.60. Following the transaction, the chief executive officer now owns 667,229 shares in the company, valued at $40,567,523.20. This represents a 0.62 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.33% 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.