Cornercap Investment Counsel Inc. Decreases Holdings in Centene Co. (NYSE:CNC)

Cornercap Investment Counsel Inc. lessened its stake in shares of Centene Co. (NYSE:CNC) by 38.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,138 shares of the company’s stock after selling 11,861 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Centene were worth $1,441,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Park Place Capital Corp boosted its position in 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 buying an additional 357 shares during the last quarter. WR Wealth Planners LLC grew its stake in 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 purchasing an additional 137 shares in the last quarter. Chris Bulman Inc acquired a new position in shares of Centene in the 2nd quarter valued at approximately $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 valued at $35,000 after buying an additional 320 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Centene in the second quarter worth $36,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Trading Up 1.1 %

Shares of NYSE CNC opened at $58.69 on Friday. The business has a fifty day simple moving average of $68.61 and a 200-day simple moving average of $71.21. The company has a market cap of $29.63 billion, a price-to-earnings ratio of 10.19, a P/E/G ratio of 0.80 and a beta of 0.49. Centene Co. has a 12 month low of $57.56 and a 12 month high of $81.42. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CNC shares. Barclays decreased their price target on Centene from $97.00 to $91.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Jefferies Financial Group lowered shares of Centene from a “buy” rating to a “hold” rating and dropped their price target for the company from $83.00 to $69.00 in a research note on Wednesday, July 24th. Robert W. Baird reduced their price objective on shares of Centene from $83.00 to $66.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Wells Fargo & Company lowered their target price on shares of Centene from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, StockNews.com lowered shares of Centene from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Centene presently has a consensus rating of “Moderate Buy” and an average price target of $83.92.

Insider Buying and Selling at Centene

In other Centene news, CFO Andrew Lynn Asher bought 17,200 shares of the stock in a transaction on Wednesday, November 13th. The shares were bought at an average price of $58.14 per share, with a total value of $1,000,008.00. Following the purchase, the chief financial officer now directly owns 486,847 shares in the company, valued at $28,305,284.58. The trade was a 3.66 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sarah London purchased 4,117 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were bought at an average price of $60.80 per share, with a total value of $250,313.60. Following the completion of the acquisition, the chief executive officer now owns 667,229 shares of the company’s stock, valued at $40,567,523.20. This trade represents a 0.62 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

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.