Swedbank AB Sells 3,703,205 Shares of Centene Co. (NYSE:CNC)

Swedbank AB cut its holdings in shares of Centene Co. (NYSE:CNCFree Report) by 68.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,697,105 shares of the company’s stock after selling 3,703,205 shares during the quarter. Swedbank AB’s holdings in Centene were worth $102,811,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CNC. Public Sector Pension Investment Board lifted its stake in Centene by 70.3% in the second quarter. Public Sector Pension Investment Board now owns 20,319 shares of the company’s stock valued at $1,347,000 after purchasing an additional 8,387 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Centene by 64.0% during the 2nd quarter. NewEdge Advisors LLC now owns 32,481 shares of the company’s stock valued at $2,154,000 after buying an additional 12,674 shares during the last quarter. Granite Bay Wealth Management LLC bought a new position in shares of Centene during the 2nd quarter worth $206,000. Sanctuary Advisors LLC bought a new stake in Centene in the 2nd quarter valued at about $3,373,000. Finally, Paragon Capital Management Inc. raised its stake in Centene by 8.5% in the 2nd quarter. Paragon Capital Management Inc. now owns 24,342 shares of the company’s stock valued at $1,614,000 after acquiring an additional 1,910 shares during the period. 93.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on CNC shares. Barclays boosted their price target on shares of Centene from $91.00 to $93.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 target price on shares of Centene in a research report on Wednesday, December 11th. StockNews.com upgraded Centene from a “buy” rating to a “strong-buy” rating in a research report on Monday. Robert W. Baird dropped their price objective on Centene from $83.00 to $66.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Finally, UBS Group raised Centene from a “neutral” rating to a “buy” rating and lifted their target price for the company from $79.00 to $80.00 in a report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Centene currently has an average rating of “Moderate Buy” and an average target price of $80.92.

View Our Latest Report on Centene

Centene Trading Down 1.3 %

Shares of CNC opened at $63.89 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10. Centene Co. has a 1-year low of $55.03 and a 1-year high of $81.42. The company has a market capitalization of $32.26 billion, a P/E ratio of 11.09, a P/E/G ratio of 0.85 and a beta of 0.45. The firm’s 50 day simple moving average is $60.91 and its 200 day simple moving average is $67.21.

Insider Activity

In other news, CFO Andrew Lynn Asher bought 17,200 shares of the business’s stock in a transaction on 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 purchase, the chief financial officer now directly owns 486,847 shares in the company, valued at $28,305,284.58. This represents 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, Director H James Dallas purchased 1,693 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were acquired at an average cost of $59.01 per share, for a total transaction of $99,903.93. Following the completion of the purchase, the director now directly owns 1,693 shares of the company’s stock, valued at approximately $99,903.93. This represents a ? increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 45,010 shares of company stock worth $2,660,276. 0.33% of the stock is currently owned by corporate insiders.

Centene Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Centene (NYSE:CNC)

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