Hotchkis & Wiley Capital Management LLC Increases Holdings in Centene Co. (NYSE:CNC)

Hotchkis & Wiley Capital Management LLC grew its stake in shares of Centene Co. (NYSE:CNC) by 15.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,203,049 shares of the company’s stock after buying an additional 428,100 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 0.63% of Centene worth $241,126,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in CNC. Vantage Investment Partners LLC lifted its position in Centene by 17.1% during the third quarter. Vantage Investment Partners LLC now owns 683,817 shares of the company’s stock valued at $51,478,000 after purchasing an additional 99,904 shares in the last quarter. Diversified Trust Co increased its stake in shares of Centene by 35.8% in the second quarter. Diversified Trust Co now owns 28,009 shares of the company’s stock worth $1,857,000 after acquiring an additional 7,385 shares during the period. National Pension Service lifted its holdings in Centene by 15.4% in the third quarter. National Pension Service now owns 1,435,482 shares of the company’s stock valued at $108,063,000 after acquiring an additional 191,768 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Centene by 31.1% during the third quarter. Daiwa Securities Group Inc. now owns 118,810 shares of the company’s stock worth $8,944,000 after acquiring an additional 28,175 shares during the last quarter. Finally, Cetera Investment Advisers boosted its stake in Centene by 526.7% during the first quarter. Cetera Investment Advisers now owns 56,230 shares of the company’s stock valued at $4,413,000 after buying an additional 47,257 shares in the last quarter. 93.63% of the stock is owned by hedge funds and other institutional investors.

Centene Stock Performance

NYSE:CNC opened at $60.06 on Tuesday. The company’s 50-day moving average price is $64.81 and its 200-day moving average price is $69.70. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64. The company has a market cap of $30.32 billion, a P/E ratio of 10.43, a P/E/G ratio of 0.82 and a beta of 0.46. Centene Co. has a twelve month low of $57.20 and a twelve month high of $81.42.

Wall Street Analyst Weigh In

CNC has been the topic of several recent analyst reports. Robert W. Baird lowered their price target on Centene from $83.00 to $66.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Sanford C. Bernstein cut their target price on Centene from $96.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Stephens restated an “equal weight” rating and set a $78.00 target price on shares of Centene in a research report on Monday, August 5th. StockNews.com downgraded shares of Centene from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Finally, Barclays cut their price objective on Centene from $97.00 to $91.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $83.92.

Insider Buying and Selling

In other news, CFO Andrew Lynn Asher bought 17,200 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was acquired at an average cost of $58.14 per share, for a total transaction of $1,000,008.00. Following the completion of the purchase, the chief financial officer now owns 486,847 shares of the company’s stock, valued at $28,305,284.58. This trade represents a 3.66 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sarah London bought 4,117 shares of Centene stock in a transaction dated Friday, November 8th. The stock was acquired at an average cost of $60.80 per share, for a total transaction of $250,313.60. Following the purchase, the chief executive officer now directly owns 667,229 shares in the company, valued at approximately $40,567,523.20. The trade was a 0.62 % increase in their position. The disclosure for this purchase can be found here. 0.29% 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.