Chevy Chase Trust Holdings LLC Has $21.23 Million Stock Position in Centene Co. (NYSE:CNC)

Chevy Chase Trust Holdings LLC reduced its stake in shares of Centene Co. (NYSE:CNC) by 3.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 282,036 shares of the company’s stock after selling 9,300 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Centene were worth $21,232,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in CNC. Park Place Capital Corp grew its position in shares of Centene by 1,190.0% in the 3rd quarter. Park Place Capital Corp now owns 387 shares of the company’s stock valued at $29,000 after purchasing an additional 357 shares during the period. WR Wealth Planners LLC increased its holdings 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 buying an additional 137 shares during the last quarter. Chris Bulman Inc bought a new stake in shares of Centene in the 2nd quarter valued at about $33,000. Riverview Trust Co increased 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 valued at $35,000 after purchasing an additional 320 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Centene in the 2nd quarter valued at $36,000. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Andrew Lynn Asher acquired 17,200 shares of the stock in a transaction 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 transaction, the chief financial officer now 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 purchase was disclosed in a filing with the SEC, which can be accessed 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 completion of 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. 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. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price target on shares of Centene in a report on Tuesday, October 1st. Wells Fargo & Company dropped their price objective on shares of Centene from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. StockNews.com downgraded Centene from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Finally, Robert W. Baird decreased their target price on Centene from $83.00 to $66.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Seven research 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, Centene presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.92.

Centene Stock Performance

Shares of CNC stock opened at $59.44 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64. The stock has a fifty day moving average of $64.51 and a 200 day moving average of $69.57. The firm has a market capitalization of $30.01 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 0.82 and a beta of 0.46. Centene Co. has a 52 week low of $57.20 and a 52 week high of $81.42.

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.