Sheaff Brock Investment Advisors LLC Has $1.06 Million Position in Centene Co. (NYSE:CNC)

Sheaff Brock Investment Advisors LLC increased its stake in shares of Centene Co. (NYSE:CNC) by 127.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 14,100 shares of the company’s stock after acquiring an additional 7,900 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Centene were worth $1,061,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the company. Park Place Capital Corp increased its position in Centene by 1,190.0% during the third quarter. Park Place Capital Corp now owns 387 shares of the company’s stock worth $29,000 after acquiring an additional 357 shares during the period. WR Wealth Planners LLC lifted its stake in 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 purchasing an additional 137 shares during the last quarter. Chris Bulman Inc acquired a new position in Centene during the second quarter worth about $33,000. Riverview Trust Co lifted its holdings in shares of Centene by 154.6% in the second quarter. Riverview Trust Co now owns 527 shares of the company’s stock worth $35,000 after acquiring an additional 320 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Centene during the 2nd quarter valued at approximately $36,000. 93.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CNC shares. Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 price target on shares of Centene in a research note on Tuesday, October 1st. Oppenheimer reduced their target price on shares of Centene from $110.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, July 29th. TD Cowen raised their price target on shares of Centene from $80.00 to $89.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Stephens reissued an “equal weight” rating and issued a $78.00 price objective on shares of Centene in a research note on Monday, August 5th. Finally, Wells Fargo & Company decreased their price target on Centene from $91.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $83.92.

Centene Stock Performance

Shares of Centene stock opened at $57.45 on Friday. The firm has a market capitalization of $29.00 billion, a price-to-earnings ratio of 9.97, a PEG ratio of 0.80 and a beta of 0.49. Centene Co. has a one year low of $57.25 and a one year high of $81.42. The business has a 50-day simple moving average of $68.06 and a 200 day simple moving average of $71.01. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10.

Insider Buying and Selling

In related news, CEO Sarah London acquired 4,117 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was purchased at an average cost of $60.80 per share, with a total value of $250,313.60. Following the acquisition, the chief executive officer now owns 667,229 shares of the company’s stock, valued at approximately $40,567,523.20. This trade represents a 0.62 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 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 disclosure for this purchase can be found here. 0.33% of the stock is owned by company insiders.

Centene 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.