Claro Advisors LLC Invests $332,000 in Centene Co. (NYSE:CNC)

Claro Advisors LLC bought a new stake in Centene Co. (NYSE:CNC) in the third quarter, HoldingsChannel reports. The fund bought 4,410 shares of the company’s stock, valued at approximately $332,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CNC. Park Place Capital Corp increased its position in shares of Centene by 1,190.0% in the third quarter. Park Place Capital Corp now owns 387 shares of the company’s stock valued at $29,000 after acquiring an additional 357 shares during the last quarter. WR Wealth Planners LLC increased its position in shares of Centene by 41.4% during the 2nd 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 bought a new stake in shares of Centene during the 2nd quarter worth approximately $33,000. Riverview Trust Co boosted its holdings in shares of Centene by 154.6% in the 2nd quarter. Riverview Trust Co now owns 527 shares of the company’s stock valued at $35,000 after buying an additional 320 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Centene during the second quarter worth $36,000. 93.63% of the stock is owned by institutional investors.

Centene Stock Up 2.4 %

Shares of CNC opened at $58.83 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64. Centene Co. has a 12 month low of $57.20 and a 12 month high of $81.42. The firm’s 50 day moving average is $67.82 and its 200-day moving average is $70.88. The stock has a market capitalization of $29.70 billion, a PE ratio of 10.21, a P/E/G ratio of 0.79 and a beta of 0.49.

Insider Buying and Selling

In related news, CFO Andrew Lynn Asher purchased 17,200 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was acquired 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sarah London bought 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, for a total transaction of $250,313.60. Following the completion of the acquisition, the chief executive officer now owns 667,229 shares in the company, valued at approximately $40,567,523.20. This trade represents a 0.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CNC has been the subject of a number of recent analyst reports. Sanford C. Bernstein cut their price target on shares of Centene from $96.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. TD Cowen lifted their price target on Centene from $80.00 to $89.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Wells Fargo & Company dropped 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. Jefferies Financial Group downgraded Centene from a “buy” rating to a “hold” rating and cut their price target for the company from $83.00 to $69.00 in a report on Wednesday, July 24th. Finally, Barclays dropped their price objective on shares of Centene from $97.00 to $91.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Centene currently has an average rating of “Moderate Buy” and a consensus target price of $83.92.

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.