Camden National Bank Makes New Investment in Centene Co. (NYSE:CNC)

Camden National Bank acquired a new position in shares of Centene Co. (NYSE:CNC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,056 shares of the company’s stock, valued at approximately $230,000.

Several other large investors have also made changes to their positions in CNC. 1832 Asset Management L.P. acquired a new position in shares of Centene during the 1st quarter worth about $6,797,000. LRI Investments LLC acquired a new position in shares of Centene during the 1st quarter worth about $76,000. Lazard Asset Management LLC lifted its position in shares of Centene by 39.9% during the 1st quarter. Lazard Asset Management LLC now owns 348,903 shares of the company’s stock worth $27,381,000 after purchasing an additional 99,557 shares during the last quarter. SVB Wealth LLC raised its holdings in Centene by 30.6% in the 1st quarter. SVB Wealth LLC now owns 11,351 shares of the company’s stock valued at $891,000 after acquiring an additional 2,661 shares in the last quarter. Finally, Econ Financial Services Corp acquired a new position in Centene in the 1st quarter valued at approximately $793,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Up 0.0 %

NYSE CNC opened at $60.37 on Friday. The firm has a market cap of $30.48 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 0.83 and a beta of 0.49. Centene Co. has a one year low of $57.20 and a one year high of $81.42. The stock’s 50 day simple moving average is $66.68 and its 200 day simple moving average is $70.46. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CNC shares. Sanford C. Bernstein cut their price target on Centene from $96.00 to $88.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 price target on shares of Centene in a report on Tuesday, October 1st. TD Cowen upped their price target on Centene from $80.00 to $89.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Robert W. Baird cut their price target on Centene from $83.00 to $66.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Finally, Barclays lowered their price objective on Centene from $97.00 to $91.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.92.

Insider Buying and Selling

In other news, CEO Sarah London acquired 4,117 shares of Centene stock in a transaction on Friday, November 8th. The shares were purchased at an average price 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 in the company, valued at $40,567,523.20. This represents a 0.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew Lynn Asher acquired 17,200 shares of Centene stock in a transaction on Wednesday, November 13th. The shares were purchased at an average cost of $58.14 per share, for a total transaction of $1,000,008.00. Following the acquisition, the chief financial officer now owns 486,847 shares in the company, valued at approximately $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 corporate insiders.

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.