Charles Schwab Investment Management Inc. Decreases Position in Centene Co. (NYSE:CNC)

Charles Schwab Investment Management Inc. lowered its stake in shares of Centene Co. (NYSE:CNC) by 7.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,672,542 shares of the company’s stock after selling 298,958 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Centene were worth $276,469,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CNC. Vantage Investment Partners LLC raised its position in Centene by 17.1% in the 3rd quarter. Vantage Investment Partners LLC now owns 683,817 shares of the company’s stock valued at $51,478,000 after purchasing an additional 99,904 shares in the last quarter. Diversified Trust Co lifted its stake in Centene by 35.8% in the second quarter. Diversified Trust Co now owns 28,009 shares of the company’s stock worth $1,857,000 after acquiring an additional 7,385 shares during the last quarter. Comerica Bank grew its holdings in Centene by 7.3% during the 1st quarter. Comerica Bank now owns 118,597 shares of the company’s stock worth $9,307,000 after acquiring an additional 8,103 shares in the last quarter. National Pension Service raised its holdings in shares of Centene by 15.4% in the 3rd quarter. National Pension Service now owns 1,435,482 shares of the company’s stock valued at $108,063,000 after purchasing an additional 191,768 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in shares of Centene by 526.7% during the 1st quarter. Cetera Investment Advisers now owns 56,230 shares of the company’s stock worth $4,413,000 after purchasing an additional 47,257 shares during the last quarter. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Centene Stock Up 0.0 %

CNC opened at $60.37 on Friday. The business has a 50 day moving average price of $66.68 and a two-hundred day moving average price of $70.50. Centene Co. has a 52 week low of $57.20 and a 52 week high of $81.42. The company has a market cap of $30.48 billion, a PE ratio of 10.48, a P/E/G ratio of 0.79 and a beta of 0.49. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64.

Insider Transactions at Centene

In other news, CEO Sarah London acquired 4,117 shares of Centene stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average price of $60.80 per share, for a total transaction of $250,313.60. Following the completion of the transaction, the chief executive officer now directly owns 667,229 shares in the company, valued at approximately $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 bought 17,200 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were acquired at an average price of $58.14 per share, for a total transaction of $1,000,008.00. Following the transaction, the chief financial officer now directly owns 486,847 shares in the company, valued at $28,305,284.58. This trade represents a 3.66 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CNC shares. StockNews.com cut Centene from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Wells Fargo & Company decreased their target price on Centene from $91.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Sanford C. Bernstein dropped their price target on shares of Centene from $96.00 to $88.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Barclays reduced their price objective on shares of Centene from $97.00 to $91.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Finally, TD Cowen lifted their price target on shares of Centene from $80.00 to $89.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Centene presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.92.

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.