Capital Performance Advisors LLP Buys Shares of 2,584 Centene Co. (NYSE:CNC)

Capital Performance Advisors LLP purchased a new stake in shares of Centene Co. (NYSE:CNC) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 2,584 shares of the company’s stock, valued at approximately $195,000.

Other large investors have also made changes to their positions in the company. Swedbank AB acquired a new position in shares of Centene during the 1st quarter worth $914,080,000. Boston Partners raised its holdings in Centene by 0.4% during the first quarter. Boston Partners now owns 8,652,177 shares of the company’s stock valued at $678,033,000 after buying an additional 32,427 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Centene by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 5,491,968 shares of the company’s stock worth $364,117,000 after buying an additional 25,595 shares during the last quarter. Capital International Investors increased its holdings in shares of Centene by 60.2% during the 1st quarter. Capital International Investors now owns 5,216,486 shares of the company’s stock valued at $409,390,000 after acquiring an additional 1,959,460 shares during the last quarter. Finally, Legal & General Group Plc raised 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 acquiring an additional 636,683 shares in the last quarter. Institutional investors own 93.63% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CNC. Robert W. Baird dropped their price target on shares of Centene from $83.00 to $66.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. StockNews.com downgraded shares of Centene from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Oppenheimer decreased their price target on shares of Centene from $110.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, July 29th. Barclays cut their price objective on Centene from $97.00 to $91.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Finally, Wells Fargo & Company lowered their target price on Centene from $91.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $83.92.

Centene Stock Performance

CNC stock traded down $0.74 during midday trading on Friday, hitting $61.78. The stock had a trading volume of 330,870 shares, compared to its average volume of 3,911,290. The firm has a market capitalization of $31.19 billion, a price-to-earnings ratio of 10.85, a P/E/G ratio of 0.88 and a beta of 0.49. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64. The stock has a 50-day simple moving average of $70.40 and a 200 day simple moving average of $71.75. Centene Co. has a 52 week low of $59.77 and a 52 week high of $81.42.

Centene Company 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.