UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 194,566 Shares of Centene Co. (NYSE:CNC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Centene Co. (NYSE:CNC) by 3.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,768,534 shares of the company’s stock after acquiring an additional 194,566 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 1.14% of Centene worth $434,255,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Park Place Capital Corp raised its stake 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 valued at $29,000 after acquiring an additional 357 shares in the last quarter. WR Wealth Planners LLC raised its stake in Centene by 41.4% in the second quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock worth $31,000 after buying an additional 137 shares in the last quarter. Chris Bulman Inc bought a new position in Centene in the second quarter worth approximately $33,000. Riverview Trust Co raised its stake in Centene by 154.6% in the second quarter. Riverview Trust Co now owns 527 shares of the company’s stock worth $35,000 after buying an additional 320 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Centene in the second quarter worth approximately $36,000. Institutional investors own 93.63% of the company’s stock.

Analyst Upgrades and Downgrades

CNC has been the subject of a number of recent research reports. 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 research note on Friday, October 25th. StockNews.com downgraded shares of Centene from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Barclays reduced their price target on Centene from $97.00 to $91.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Wells Fargo & Company reduced their price target on Centene from $91.00 to $90.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price target on shares of Centene in a research report on Tuesday, October 1st. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.92.

Insider Buying and Selling at Centene

In other Centene news, CFO Andrew Lynn Asher purchased 17,200 shares of the stock in a transaction on Wednesday, November 13th. The shares were bought 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 owns 486,847 shares in the company, valued at $28,305,284.58. This trade represents a 3.66 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sarah London purchased 4,117 shares of the stock in a transaction on Friday, November 8th. The stock was acquired at an average cost of $60.80 per share, for a total transaction 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. The trade was a 0.62 % increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is owned by corporate insiders.

Centene Price Performance

Shares of CNC opened at $59.93 on Friday. The firm has a market capitalization of $30.26 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 0.84 and a beta of 0.49. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10. Centene Co. has a 1-year low of $57.20 and a 1-year high of $81.42. The company’s fifty day moving average price is $65.43 and its 200-day moving average price is $70.04.

Centene 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.