Point72 Asia Singapore Pte. Ltd. Invests $2.40 Million in Centene Co. (NYSE:CNC)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Centene Co. (NYSE:CNC) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 31,872 shares of the company’s stock, valued at approximately $2,399,000.

Other large investors have also bought and sold shares of the company. Vantage Investment Partners LLC raised its holdings in Centene by 17.1% in the 3rd quarter. Vantage Investment Partners LLC now owns 683,817 shares of the company’s stock worth $51,478,000 after acquiring an additional 99,904 shares during the last quarter. Diversified Trust Co increased its holdings in Centene by 35.8% in the 2nd quarter. Diversified Trust Co now owns 28,009 shares of the company’s stock worth $1,857,000 after buying an additional 7,385 shares in the last quarter. National Pension Service raised its position in Centene by 15.4% in the 3rd quarter. National Pension Service now owns 1,435,482 shares of the company’s stock worth $108,063,000 after buying an additional 191,768 shares during the last quarter. Cetera Investment Advisers lifted its stake in Centene by 526.7% during the 1st quarter. Cetera Investment Advisers now owns 56,230 shares of the company’s stock valued at $4,413,000 after acquiring an additional 47,257 shares during the period. Finally, Claro Advisors LLC bought a new stake in shares of Centene in the third quarter worth approximately $1,118,000. 93.63% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Centene

In related news, CEO Sarah London bought 4,117 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were purchased 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 owns 667,229 shares in the company, valued at $40,567,523.20. This trade represents a 0.62 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew Lynn Asher purchased 17,200 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 486,847 shares of the company’s stock, valued at $28,305,284.58. The trade was a 3.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CNC. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price objective on shares of Centene in a research report on Tuesday, October 1st. StockNews.com lowered Centene from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Sanford C. Bernstein reduced their target price on shares of Centene from $96.00 to $88.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Wells Fargo & Company decreased their price objective on shares of Centene from $91.00 to $90.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Finally, Robert W. Baird cut their price target on Centene from $83.00 to $66.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.92.

Centene Stock Up 0.1 %

NYSE CNC opened at $60.00 on Friday. The stock has a 50 day moving average price of $65.11 and a 200-day moving average price of $69.88. Centene Co. has a one year low of $57.20 and a one year high of $81.42. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market capitalization of $30.29 billion, a P/E ratio of 10.42, a P/E/G ratio of 0.82 and a beta of 0.49.

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.