SouthState Corp Buys 1,102 Shares of Centene Co. (NYSE:CNC)

SouthState Corp boosted its stake in shares of Centene Co. (NYSE:CNC) by 2.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 41,276 shares of the company’s stock after buying an additional 1,102 shares during the quarter. SouthState Corp’s holdings in Centene were worth $3,107,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Meeder Asset Management Inc. raised its holdings in Centene by 10.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 74,945 shares of the company’s stock worth $5,642,000 after purchasing an additional 6,937 shares in the last quarter. Caprock Group LLC raised its stake in Centene by 5.7% in the third quarter. Caprock Group LLC now owns 11,959 shares of the company’s stock worth $900,000 after buying an additional 641 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in Centene by 9.2% in the third quarter. Thrivent Financial for Lutherans now owns 74,998 shares of the company’s stock worth $5,645,000 after buying an additional 6,337 shares during the period. Claro Advisors LLC bought a new stake in Centene during the 3rd quarter valued at approximately $332,000. Finally, Mutual of America Capital Management LLC raised its position in shares of Centene by 1.5% in the 3rd quarter. Mutual of America Capital Management LLC now owns 98,022 shares of the company’s stock worth $7,379,000 after acquiring an additional 1,445 shares in the last quarter. Institutional investors own 93.63% of the company’s stock.

Analyst Ratings Changes

CNC has been the topic of several research reports. Deutsche Bank Aktiengesellschaft lifted their price target on Centene from $82.00 to $87.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 target price on shares of Centene in a research report on Tuesday, October 1st. Robert W. Baird lowered their price target on shares of Centene from $83.00 to $66.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. TD Cowen upped their price objective on shares of Centene from $80.00 to $89.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, StockNews.com lowered shares of Centene from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Centene currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.92.

Insider Transactions at Centene

In other Centene news, CEO Sarah London purchased 4,117 shares of Centene stock in a transaction dated Friday, November 8th. The stock was purchased at an average price of $60.80 per share, with a total value of $250,313.60. Following the transaction, the chief executive officer now directly owns 667,229 shares of the company’s stock, valued at $40,567,523.20. This trade represents a 0.62 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrew Lynn Asher acquired 17,200 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was acquired at an average cost of $58.14 per share, for a total transaction of $1,000,008.00. Following the acquisition, the chief financial officer now owns 486,847 shares of the company’s stock, valued at $28,305,284.58. The trade was a 3.66 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company’s stock.

Centene Price Performance

NYSE CNC opened at $58.83 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market capitalization of $29.70 billion, a price-to-earnings ratio of 10.21, a PEG ratio of 0.79 and a beta of 0.49. The stock has a 50-day moving average of $67.82 and a 200 day moving average of $70.88. Centene Co. has a one year low of $57.20 and a one year 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.