Redwood Investment Management LLC Sells 5,399 Shares of Centene Co. (NYSE:CNC)

Redwood Investment Management LLC lowered its position in Centene Co. (NYSE:CNC) by 7.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,844 shares of the company’s stock after selling 5,399 shares during the quarter. Redwood Investment Management LLC’s holdings in Centene were worth $4,765,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vantage Investment Partners LLC grew its stake in Centene by 17.1% in the third quarter. Vantage Investment Partners LLC now owns 683,817 shares of the company’s stock worth $51,478,000 after purchasing an additional 99,904 shares in the last quarter. Diversified Trust Co boosted its position in Centene by 35.8% during the 2nd quarter. Diversified Trust Co now owns 28,009 shares of the company’s stock valued at $1,857,000 after acquiring an additional 7,385 shares in the last quarter. National Pension Service boosted its position in Centene by 15.4% during the 3rd quarter. National Pension Service now owns 1,435,482 shares of the company’s stock valued at $108,063,000 after acquiring an additional 191,768 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in Centene by 31.1% during the 3rd quarter. Daiwa Securities Group Inc. now owns 118,810 shares of the company’s stock valued at $8,944,000 after acquiring an additional 28,175 shares in the last quarter. Finally, Cetera Investment Advisers boosted its position 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 in the last quarter. Institutional investors own 93.63% of the company’s stock.

Centene Stock Performance

Shares of CNC stock opened at $59.77 on Thursday. The firm has a market capitalization of $30.18 billion, a price-to-earnings ratio of 10.38, a price-to-earnings-growth ratio of 0.82 and a beta of 0.46. 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 business has a fifty day moving average of $64.22 and a 200 day moving average of $69.50. Centene Co. has a 1 year low of $57.20 and a 1 year high of $81.42.

Insider Buying and Selling at Centene

In related news, CFO Andrew Lynn Asher acquired 17,200 shares of Centene stock in a transaction on Wednesday, November 13th. The stock was acquired at an average price of $58.14 per share, for a total transaction of $1,000,008.00. Following the purchase, the chief financial officer now owns 486,847 shares of the company’s stock, valued at approximately $28,305,284.58. This represents a 3.66 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sarah London acquired 4,117 shares of Centene stock in a transaction on Friday, November 8th. The shares were bought at an average price of $60.80 per share, with a total value of $250,313.60. Following the purchase, the chief executive officer now directly owns 667,229 shares in the company, valued at approximately $40,567,523.20. The trade was a 0.62 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Barclays dropped their target price on Centene from $97.00 to $91.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. StockNews.com cut Centene from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 28th. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price objective on shares of Centene in a research report on Tuesday, October 1st. Sanford C. Bernstein lowered their price objective on Centene from $96.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Finally, Robert W. Baird lowered their price objective on 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 assigned a buy rating to the company. Based on data from MarketBeat, Centene presently has a consensus rating of “Moderate Buy” and an average price target 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.