Westbourne Investment Advisors Inc. Purchases 1,739 Shares of Centene Co. (NYSE:CNC)

Westbourne Investment Advisors Inc. boosted its position in shares of Centene Co. (NYSE:CNC) by 2.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 70,922 shares of the company’s stock after acquiring an additional 1,739 shares during the quarter. Centene accounts for 1.9% of Westbourne Investment Advisors Inc.’s portfolio, making the stock its 20th biggest holding. Westbourne Investment Advisors Inc.’s holdings in Centene were worth $5,339,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Swedbank AB purchased a new stake in Centene in the first quarter worth about $914,080,000. Capital International Investors boosted its stake in Centene by 60.2% in the 1st quarter. Capital International Investors now owns 5,216,486 shares of the company’s stock worth $409,390,000 after purchasing an additional 1,959,460 shares during the period. AQR Capital Management LLC grew 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 valued at $295,799,000 after buying an additional 832,318 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Centene by 14.2% in the second quarter. Legal & General Group Plc now owns 5,113,759 shares of the company’s stock worth $339,042,000 after buying an additional 636,683 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in Centene by 42.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,400,276 shares of the company’s stock valued at $92,838,000 after acquiring an additional 416,003 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CNC. Jefferies Financial Group cut shares of Centene from a “buy” rating to a “hold” rating and decreased their target price for the company from $83.00 to $69.00 in a research report on Wednesday, July 24th. Stephens reaffirmed an “equal weight” rating and set a $78.00 price objective on shares of Centene in a research note on Monday, August 5th. Truist Financial dropped their price target on shares of Centene from $92.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, July 15th. TD Cowen boosted their target price on Centene from $80.00 to $89.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company cut their price objective on Centene from $93.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.00.

Centene Stock Performance

Centene stock traded up $1.26 during trading hours on Friday, hitting $63.52. 6,313,021 shares of the stock traded hands, compared to its average volume of 6,736,058. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.17. Centene Co. has a 1 year low of $59.77 and a 1 year high of $81.42. The stock has a market capitalization of $32.07 billion, a price-to-earnings ratio of 11.03, a P/E/G ratio of 0.85 and a beta of 0.49. The firm’s 50 day moving average price is $71.25 and its 200-day moving average price is $71.96.

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.