Centene Co. (NYSE:CNC) Stock Position Decreased by Cigna Investments Inc. New

by · The Markets Daily

Cigna Investments Inc. New trimmed its holdings in Centene Co. (NYSE:CNC – Free Report) by 3.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,455 shares of the company’s stock after selling 170 shares during the period. Cigna Investments Inc. New’s holdings in Centene were worth $411,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CNC. Allspring Global Investments Holdings LLC raised its holdings in Centene by 92.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 449,025 shares of the company’s stock valued at $35,239,000 after buying an additional 215,432 shares in the last quarter. First Trust Direct Indexing L.P. raised its stake in shares of Centene by 15.3% in the 1st quarter. First Trust Direct Indexing L.P. now owns 5,046 shares of the company’s stock valued at $396,000 after acquiring an additional 671 shares in the last quarter. Van ECK Associates Corp boosted its position in Centene by 374.0% during the first quarter. Van ECK Associates Corp now owns 48,834 shares of the company’s stock worth $3,833,000 after purchasing an additional 38,531 shares during the period. Norden Group LLC grew its holdings in Centene by 79.4% during the first quarter. Norden Group LLC now owns 5,878 shares of the company’s stock valued at $461,000 after purchasing an additional 2,601 shares during the last quarter. Finally, Diversify Advisory Services LLC bought a new position in shares of Centene in the first quarter valued at approximately $575,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CNC shares. Barclays lowered their target price on shares of Centene from $97.00 to $91.00 and set an “overweight” rating on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft boosted their price objective on Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Oppenheimer lowered their target price on Centene from $110.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, July 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 price target on shares of Centene in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Centene from $85.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Centene currently has a consensus rating of “Moderate Buy” and an average target price of $84.00.

Get Our Latest Research Report on Centene

Centene Stock Up 2.0 %

Shares of CNC opened at $63.52 on Friday. Centene Co. has a 12 month low of $59.77 and a 12 month high of $81.42. The stock has a market cap of $33.41 billion, a price-to-earnings ratio of 11.03, a P/E/G ratio of 0.85 and a beta of 0.48. The company has a 50-day moving average price of $71.25 and a two-hundred day moving average price of $71.96. The company has a quick ratio of 1.17, a current ratio of 1.10 and a debt-to-equity ratio of 0.64.

About Centene

(Free Report)

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.

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