BNP PARIBAS ASSET MANAGEMENT Holding S.A. Reduces Stake in Centene Co. (NYSE:CNC)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. reduced its stake in shares of Centene Co. (NYSE:CNC) by 12.8% during the third quarter, Holdings Channel reports. The firm owned 1,158,965 shares of the company’s stock after selling 170,867 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Centene were worth $87,247,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Swedbank AB purchased a new position in shares of Centene during the 1st quarter worth approximately $914,080,000. Capital International Investors lifted its position in Centene by 60.2% during the first quarter. Capital International Investors now owns 5,216,486 shares of the company’s stock valued at $409,390,000 after buying an additional 1,959,460 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Centene by 22.9% during the 2nd quarter. AQR Capital Management LLC now owns 4,461,517 shares of the company’s stock valued at $295,799,000 after buying an additional 832,318 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Centene by 14.2% in the 2nd quarter. Legal & General Group Plc now owns 5,113,759 shares of the company’s stock worth $339,042,000 after acquiring an additional 636,683 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in Centene by 42.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,400,276 shares of the company’s stock valued at $92,838,000 after acquiring an additional 416,003 shares during the period. 93.63% of the stock is currently owned by institutional investors.

Centene Stock Performance

CNC opened at $59.10 on Thursday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64. 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 $29.84 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 0.79 and a beta of 0.49. The company’s 50 day moving average is $67.27 and its 200 day moving average is $70.68.

Insider Activity

In other Centene news, CFO Andrew Lynn Asher purchased 17,200 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were acquired at an average cost of $58.14 per share, with a total value of $1,000,008.00. Following the completion of the acquisition, 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sarah London bought 4,117 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were acquired 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 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.

Wall Street Analyst Weigh In

CNC has been the subject of a number of analyst reports. Barclays decreased their target price on shares of Centene from $97.00 to $91.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. StockNews.com cut Centene from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Sanford C. Bernstein lowered their price target on Centene from $96.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Finally, Robert W. Baird reduced 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. 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 company has a consensus rating of “Moderate Buy” and a consensus target price of $83.92.

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.