Townsquare Capital LLC Reduces Stock Holdings in Centene Co. (NYSE:CNC)

Townsquare Capital LLC trimmed its holdings in Centene Co. (NYSE:CNC) by 1.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 64,260 shares of the company’s stock after selling 755 shares during the period. Townsquare Capital LLC’s holdings in Centene were worth $4,837,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. WR Wealth Planners LLC lifted its holdings in shares of Centene by 41.4% during the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock valued at $31,000 after acquiring an additional 137 shares in the last quarter. Whittier Trust Co. lifted its position in Centene by 10.0% during the 2nd quarter. Whittier Trust Co. now owns 1,562 shares of the company’s stock worth $104,000 after acquiring an additional 142 shares in the last quarter. Mount Yale Investment Advisors LLC boosted its stake in shares of Centene by 2.1% in the third quarter. Mount Yale Investment Advisors LLC now owns 8,082 shares of the company’s stock valued at $608,000 after purchasing an additional 167 shares during the period. Meridian Management Co. boosted its position in Centene by 0.3% in the 2nd quarter. Meridian Management Co. now owns 64,721 shares of the company’s stock valued at $4,291,000 after buying an additional 189 shares during the last quarter. Finally, E Fund Management Co. Ltd. increased its position in shares of Centene by 6.4% during the second quarter. E Fund Management Co. Ltd. now owns 3,309 shares of the company’s stock worth $219,000 after acquiring an additional 199 shares during the last quarter. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Centene

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

Analyst Ratings Changes

A number of brokerages have weighed in on CNC. Barclays lowered their price objective on Centene from $97.00 to $91.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 price objective on shares of Centene in a research note on Tuesday, October 1st. Stephens restated an “equal weight” rating and issued a $78.00 target price on shares of Centene in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft lifted their price target on Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Finally, Robert W. Baird cut their price objective on Centene from $83.00 to $66.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.92.

Centene Price Performance

Shares of CNC opened at $59.93 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. The company has a market cap of $30.26 billion, a P/E ratio of 10.40, a PEG ratio of 0.84 and a beta of 0.49. Centene Co. has a 12 month low of $57.20 and a 12 month high of $81.42. The stock has a fifty day moving average price of $65.43 and a 200 day moving average price of $70.04.

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.