TD Private Client Wealth LLC Increases Holdings in Centene Co. (NYSE:CNC)

TD Private Client Wealth LLC boosted its stake in Centene Co. (NYSE:CNC) by 5.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,229 shares of the company’s stock after purchasing an additional 501 shares during the quarter. TD Private Client Wealth LLC’s holdings in Centene were worth $695,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Fortem Financial Group LLC grew its stake in Centene by 35.3% during the third quarter. Fortem Financial Group LLC now owns 8,345 shares of the company’s stock valued at $628,000 after acquiring an additional 2,175 shares in the last quarter. Gould Capital LLC grew its position in shares of Centene by 2.7% during the 3rd quarter. Gould Capital LLC now owns 14,400 shares of the company’s stock valued at $1,084,000 after purchasing an additional 372 shares in the last quarter. Vestcor Inc increased its holdings in shares of Centene by 9.3% in the third quarter. Vestcor Inc now owns 13,515 shares of the company’s stock worth $1,017,000 after purchasing an additional 1,150 shares during the period. M&T Bank Corp raised its position in shares of Centene by 6.9% in the third quarter. M&T Bank Corp now owns 30,118 shares of the company’s stock worth $2,267,000 after buying an additional 1,946 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in Centene by 16.1% during the third quarter. Public Employees Retirement System of Ohio now owns 316,798 shares of the company’s stock worth $23,849,000 after buying an additional 43,924 shares in the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Stephens dropped their price target on Centene from $75.00 to $73.00 and set an “equal weight” rating for the company in a research report on Friday. Jefferies Financial Group cut shares of Centene from a “hold” rating to an “underperform” rating and cut their price target for the stock from $68.00 to $52.00 in a research note on Tuesday. Truist Financial lowered their price objective on shares of Centene from $89.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday. Wells Fargo & Company reduced their target price on Centene from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, UBS Group raised Centene from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $79.00 to $80.00 in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $81.31.

Insider Activity

In related news, CFO Andrew Lynn Asher acquired 17,200 shares of the stock in a transaction dated Wednesday, November 13th. The shares were purchased at an average cost of $58.14 per share, with a total value of $1,000,008.00. Following the transaction, the chief financial officer now directly owns 486,847 shares in the company, valued at approximately $28,305,284.58. This represents a 3.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sarah London bought 4,117 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were purchased at an average price of $60.80 per share, for a total transaction of $250,313.60. Following the purchase, 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 disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Centene Price Performance

CNC stock opened at $59.41 on Friday. 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 $55.03 and a 1 year high of $81.42. The company has a market cap of $29.99 billion, a P/E ratio of 10.31, a PEG ratio of 0.78 and a beta of 0.46. The firm has a 50-day moving average of $62.02 and a 200 day moving average of $68.62.

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.