Deltec Asset Management LLC trimmed its position in shares of Centene Corp (NYSE:CNC) by 98.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,762 shares of the company’s stock after selling 291,879 shares during the quarter. Deltec Asset Management LLC’s holdings in Centene were worth $299,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Maverick Capital Ltd. increased its stake in shares of Centene by 18.3% during the third quarter. Maverick Capital Ltd. now owns 7,244,461 shares of the company’s stock worth $313,395,000 after acquiring an additional 1,121,153 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Centene by 8.7% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,747,848 shares of the company’s stock worth $75,612,000 after acquiring an additional 139,609 shares during the period. Vantage Investment Partners LLC increased its stake in shares of Centene by 107.2% during the third quarter. Vantage Investment Partners LLC now owns 1,125,372 shares of the company’s stock worth $48,684,000 after acquiring an additional 582,172 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Centene by 45.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 946,170 shares of the company’s stock worth $59,486,000 after acquiring an additional 294,700 shares during the period. Finally, Alberta Investment Management Corp increased its stake in shares of Centene by 33.7% during the third quarter. Alberta Investment Management Corp now owns 912,200 shares of the company’s stock worth $39,462,000 after acquiring an additional 230,100 shares during the period. Institutional investors and hedge funds own 97.79% of the company’s stock.
In other Centene news, EVP Jesse N. Hunter sold 20,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $60.00, for a total value of $1,200,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Keith H. Williamson sold 11,000 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $59.13, for a total transaction of $650,430.00. The disclosure for this sale can be found here. Insiders sold 236,500 shares of company stock worth $13,964,620 in the last ninety days. Insiders own 2.50% of the company’s stock.
CNC has been the topic of several recent analyst reports. ValuEngine upgraded shares of Centene from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Wells Fargo & Co upped their target price on shares of Centene from $72.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday. BMO Capital Markets upped their target price on shares of Centene from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Piper Jaffray Companies restated a “buy” rating and set a $80.00 target price on shares of Centene in a research report on Monday, December 16th. Finally, Deutsche Bank lowered their target price on shares of Centene from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company. Centene has an average rating of “Buy” and an average price target of $72.64.
Shares of CNC opened at $63.42 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The firm’s 50-day moving average is $62.78 and its two-hundred day moving average is $53.38. Centene Corp has a twelve month low of $41.62 and a twelve month high of $69.25. The firm has a market capitalization of $27.56 billion, a P/E ratio of 19.67, a PEG ratio of 0.97 and a beta of 0.91.
Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.
Further Reading: The limitations of an equal weight rating
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