Brooklyn Investment Group Lowers Holdings in Centene Co. (NYSE:CNC)

Brooklyn Investment Group reduced its stake in Centene Co. (NYSE:CNC) by 26.8% during the fourth quarter, HoldingsChannel reports. The fund owned 2,572 shares of the company’s stock after selling 944 shares during the period. Brooklyn Investment Group’s holdings in Centene were worth $156,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. raised its holdings in Centene by 693.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,705,936 shares of the company’s stock worth $103,346,000 after acquiring an additional 1,490,935 shares during the last quarter. Harris Associates L P lifted its holdings in shares of Centene by 5.7% during the third quarter. Harris Associates L P now owns 26,314,183 shares of the company’s stock valued at $1,980,932,000 after purchasing an additional 1,420,825 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Centene by 22.9% during the second quarter. AQR Capital Management LLC now owns 4,461,517 shares of the company’s stock valued at $295,799,000 after buying an additional 832,318 shares during the last quarter. Legal & General Group Plc lifted its stake in Centene by 14.2% during the 2nd quarter. Legal & General Group Plc now owns 5,113,759 shares of the company’s stock valued at $339,042,000 after acquiring an additional 636,683 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in shares of Centene by 15.4% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 3,203,049 shares of the company’s stock worth $241,126,000 after acquiring an additional 428,100 shares during the period. 93.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on CNC. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 target price on shares of Centene in a report on Wednesday, December 11th. Robert W. Baird reduced 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. Barclays boosted their price target on Centene from $91.00 to $93.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. 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 note on Friday, December 13th. Finally, Sanford C. Bernstein reduced their target price on shares of Centene from $96.00 to $88.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $80.92.

Insider Buying and Selling at Centene

In other Centene news, CFO Andrew Lynn Asher purchased 17,200 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were bought at an average price of $58.14 per share, with a total value of $1,000,008.00. Following the completion of the purchase, the chief financial officer now directly 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Thomas Greco bought 17,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were acquired at an average price of $59.75 per share, for a total transaction of $1,015,750.00. Following the completion of the transaction, the director now directly owns 19,309 shares in the company, valued at approximately $1,153,712.75. This represents a 736.25 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 45,010 shares of company stock worth $2,660,276. Insiders own 0.29% of the company’s stock.

Centene Trading Down 1.1 %

CNC stock opened at $62.19 on Friday. Centene Co. has a 1-year low of $55.03 and a 1-year high of $81.42. The business has a 50 day simple moving average of $60.12 and a two-hundred day simple moving average of $67.33. 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 capitalization of $31.40 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 0.83 and a beta of 0.45.

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.