Avanza Fonder AB Makes New $2.35 Million Investment in Centene Co. (NYSE:CNC)

Avanza Fonder AB acquired a new stake in Centene Co. (NYSE:CNC) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 38,733 shares of the company’s stock, valued at approximately $2,346,000.

A number of other large investors have also bought and sold shares of the business. Park Place Capital Corp increased its position in shares of Centene by 1,190.0% during the third quarter. Park Place Capital Corp now owns 387 shares of the company’s stock worth $29,000 after acquiring an additional 357 shares in the last quarter. Private Trust Co. NA increased its holdings in Centene by 75.3% during the 3rd quarter. Private Trust Co. NA now owns 773 shares of the company’s stock worth $58,000 after purchasing an additional 332 shares in the last quarter. True Wealth Design LLC acquired a new stake in shares of Centene in the 3rd quarter valued at about $66,000. EverSource Wealth Advisors LLC boosted its position in shares of Centene by 104.8% during the second quarter. EverSource Wealth Advisors LLC now owns 1,231 shares of the company’s stock worth $82,000 after buying an additional 630 shares during the period. Finally, Venturi Wealth Management LLC grew its holdings in shares of Centene by 77.3% during the third quarter. Venturi Wealth Management LLC now owns 1,163 shares of the company’s stock worth $88,000 after buying an additional 507 shares in the last quarter. 93.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CNC. Sanford C. Bernstein reduced 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. Truist Financial decreased their target price on shares of Centene from $89.00 to $84.00 and set a “buy” rating for the company in a research report on Friday, December 13th. StockNews.com downgraded shares of Centene from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Stephens lowered their target price on Centene from $75.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Friday, December 13th. Finally, Wells Fargo & Company reduced their price target on Centene from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $80.92.

Centene Price Performance

NYSE:CNC opened at $62.19 on Friday. The firm’s fifty day moving average price is $60.12 and its two-hundred day moving average price is $67.33. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market cap of $31.40 billion, a P/E ratio of 10.80, a P/E/G ratio of 0.83 and a beta of 0.45. Centene Co. has a one year low of $55.03 and a one year high of $81.42.

Insider Buying and Selling at Centene

In related news, CEO Sarah London bought 4,117 shares of Centene stock in a transaction dated Friday, November 8th. The shares were bought at an average cost of $60.80 per share, with a total value 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 trade represents a 0.62 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Thomas Greco bought 17,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was purchased at an average cost of $59.75 per share, for a total transaction of $1,015,750.00. Following the completion of the acquisition, the director now owns 19,309 shares in the company, valued at approximately $1,153,712.75. This trade represents a 736.25 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 45,010 shares of company stock valued at $2,660,276 in the last three months. 0.29% of the stock is currently owned by company 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.