Quantbot Technologies LP Sells 131,648 Shares of Centene Co. (NYSE:CNC)

Quantbot Technologies LP reduced its position in shares of Centene Co. (NYSE:CNC) by 81.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,932 shares of the company’s stock after selling 131,648 shares during the period. Quantbot Technologies LP’s holdings in Centene were worth $2,329,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insiders Place Their Bets

In related news, CFO Andrew Lynn Asher acquired 17,200 shares of the business’s stock in a transaction that occurred 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 purchase, the chief financial officer now directly owns 486,847 shares in the company, valued at $28,305,284.58. The trade was a 3.66 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 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 cost of $60.80 per share, with a total value of $250,313.60. Following the transaction, the chief executive officer now directly owns 667,229 shares in the company, valued at approximately $40,567,523.20. This trade represents 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.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Wells Fargo & Company lowered their price objective on Centene from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Barclays dropped their price target on Centene from $97.00 to $91.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Robert W. Baird reduced their price objective on shares of Centene from $83.00 to $66.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price target on shares of Centene in a report on Tuesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Centene from $82.00 to $87.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $83.92.

Centene Price Performance

Shares of NYSE:CNC opened at $59.93 on Friday. The firm has a market cap 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. Centene Co. has a 52 week low of $57.20 and a 52 week high of $81.42. The firm’s fifty day moving average is $65.43 and its 200-day moving average is $70.04. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.10 and a current ratio of 1.10.

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.