Centene Co. (NYSE:CNC) Shares Bought by Summit Trail Advisors LLC

Summit Trail Advisors LLC lifted its stake in shares of Centene Co. (NYSE:CNC) by 15.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,054 shares of the company’s stock after purchasing an additional 686 shares during the quarter. Summit Trail Advisors LLC’s holdings in Centene were worth $380,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Comerica Bank lifted its position in shares of Centene by 7.3% during the 1st quarter. Comerica Bank now owns 118,597 shares of the company’s stock valued at $9,307,000 after acquiring an additional 8,103 shares during the period. LBP AM SA boosted its position in Centene by 97.7% during the first quarter. LBP AM SA now owns 11,727 shares of the company’s stock worth $920,000 after purchasing an additional 5,794 shares in the last quarter. Plato Investment Management Ltd grew its holdings in Centene by 2,751.0% in the first quarter. Plato Investment Management Ltd now owns 19,957 shares of the company’s stock valued at $1,566,000 after purchasing an additional 19,257 shares during the last quarter. LRI Investments LLC acquired a new position in shares of Centene during the 1st quarter worth $76,000. Finally, Swedbank AB acquired a new stake in Centene in the 1st quarter valued at about $914,080,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on CNC shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of Centene from $82.00 to $87.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Barclays lowered their target price on Centene from $97.00 to $91.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. StockNews.com cut Centene from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Wells Fargo & Company decreased their price objective on Centene from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, TD Cowen upped their target price on shares of Centene from $80.00 to $89.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.92.

Insider Buying and Selling at Centene

In other Centene news, CEO Sarah London acquired 4,117 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was bought at an average price of $60.80 per share, with a total value 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 approximately $40,567,523.20. The trade was a 0.62 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andrew Lynn Asher bought 17,200 shares of Centene stock in a transaction that occurred on Wednesday, November 13th. The shares were acquired 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 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 disclosure for this purchase can be found here. 0.33% of the stock is owned by company insiders.

Centene Stock Down 2.3 %

Shares of NYSE CNC opened at $60.00 on Wednesday. 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 stock has a market capitalization of $30.29 billion, a PE ratio of 10.42, a P/E/G ratio of 0.83 and a beta of 0.49. The firm has a fifty day moving average of $66.07 and a 200-day moving average of $70.19. Centene Co. has a 52-week low of $57.20 and a 52-week high of $81.42.

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.