Centene Co. (NYSE:CNC) Stock Position Lowered by Easterly Investment Partners LLC

Easterly Investment Partners LLC lowered its holdings in Centene Co. (NYSE:CNC) by 0.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,545 shares of the company’s stock after selling 416 shares during the period. Easterly Investment Partners LLC’s holdings in Centene were worth $10,881,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CNC shares. Jefferies Financial Group downgraded Centene from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $83.00 to $69.00 in a report on Wednesday, July 24th. Oppenheimer cut their price target on shares of Centene from $110.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, July 29th. Stephens reiterated an “equal weight” rating and issued a $78.00 price objective on shares of Centene in a report on Monday, August 5th. Sanford C. Bernstein cut their target price on Centene from $96.00 to $88.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Finally, Truist Financial decreased their price target on Centene from $92.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $83.92.

Centene Price Performance

Shares of Centene stock traded down $1.23 during mid-day trading on Friday, reaching $61.29. 1,006,302 shares of the stock were exchanged, compared to its average volume of 3,913,596. 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 company has a market cap of $30.94 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 0.88 and a beta of 0.49. Centene Co. has a fifty-two week low of $59.77 and a fifty-two week high of $81.42. The firm has a 50-day simple moving average of $70.40 and a 200 day simple moving average of $71.75.

Centene 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.