Centene Co. (NYSE:CNC) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC cut its holdings in Centene Co. (NYSE:CNC) by 3.9% during the third quarter, Holdings Channel reports. The institutional investor owned 136,774 shares of the company’s stock after selling 5,563 shares during the quarter. MetLife Investment Management LLC’s holdings in Centene were worth $10,296,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CNC. Park Place Capital Corp grew its stake in shares of Centene by 1,190.0% during the 3rd quarter. Park Place Capital Corp now owns 387 shares of the company’s stock worth $29,000 after purchasing an additional 357 shares during the period. WR Wealth Planners LLC grew its position in Centene by 41.4% during the second quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock worth $31,000 after buying an additional 137 shares during the period. Chris Bulman Inc purchased a new position in Centene in the second quarter valued at about $33,000. Riverview Trust Co boosted its stake in shares of Centene by 154.6% during the 2nd quarter. Riverview Trust Co now owns 527 shares of the company’s stock worth $35,000 after acquiring an additional 320 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Centene in the 2nd quarter valued at approximately $36,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Performance

Centene stock opened at $59.93 on Friday. 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 12 month low of $57.20 and a 12 month high of $81.42. The company has a market cap of $30.26 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 0.84 and a beta of 0.49. The stock’s 50-day moving average is $65.43 and its 200-day moving average is $70.04.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Stephens reissued an “equal weight” rating and issued a $78.00 target price on shares of Centene in a report on Monday, August 5th. Wells Fargo & Company dropped their target price on shares of Centene from $91.00 to $90.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Robert W. Baird reduced their price target on shares of Centene from $83.00 to $66.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. 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, Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 target price on shares of Centene in a report on Tuesday, October 1st. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $83.92.

Insider Buying and Selling at Centene

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

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.