First Hawaiian Bank Increases Stock Position in Centene Co. (NYSE:CNC)

First Hawaiian Bank increased its position in Centene Co. (NYSE:CNC) by 25.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,898 shares of the company’s stock after buying an additional 5,243 shares during the quarter. First Hawaiian Bank’s holdings in Centene were worth $1,569,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNC. Mount Yale Investment Advisors LLC boosted its position in Centene by 2.1% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 8,082 shares of the company’s stock worth $608,000 after purchasing an additional 167 shares during the period. Meridian Management Co. boosted its position in shares of Centene by 0.3% in the second quarter. Meridian Management Co. now owns 64,721 shares of the company’s stock worth $4,291,000 after buying an additional 189 shares during the period. E Fund Management Co. Ltd. grew its stake in shares of Centene by 6.4% in the second quarter. E Fund Management Co. Ltd. now owns 3,309 shares of the company’s stock valued at $219,000 after buying an additional 199 shares in the last quarter. Aptus Capital Advisors LLC lifted its position in Centene by 6.2% during the 3rd quarter. Aptus Capital Advisors LLC now owns 3,722 shares of the company’s stock worth $280,000 after acquiring an additional 217 shares in the last quarter. Finally, CX Institutional boosted its holdings in Centene by 7.3% in the 3rd quarter. CX Institutional now owns 3,919 shares of the company’s stock worth $295,000 after acquiring an additional 266 shares during the period. Institutional investors and hedge funds own 93.63% of the company’s stock.

Wall Street Analyst Weigh In

CNC has been the topic of a number of recent research reports. Robert W. Baird reduced their target price on shares of Centene from $83.00 to $66.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Stephens decreased their price objective on shares of Centene from $75.00 to $73.00 and set an “equal weight” rating for the company in a research report on Friday, December 13th. Jefferies Financial Group lowered Centene from a “hold” rating to an “underperform” rating and dropped their target price for the stock from $68.00 to $52.00 in a research report on Tuesday, December 10th. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price objective on shares of Centene in a research note on Wednesday, December 11th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $75.00 target price (down from $80.00) on shares of Centene in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $80.92.

Centene Price Performance

Shares of NYSE:CNC opened at $63.12 on Friday. 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 firm has a 50-day simple moving average of $60.12 and a 200 day simple moving average of $67.50. Centene Co. has a fifty-two week low of $55.03 and a fifty-two week high of $81.42. The company has a market cap of $31.87 billion, a PE ratio of 10.96, a P/E/G ratio of 0.78 and a beta of 0.45.

Insider Transactions at Centene

In other Centene news, Director Thomas Greco purchased 17,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were bought at an average price of $59.75 per share, with a total value of $1,015,750.00. Following the completion of the acquisition, the director now owns 19,309 shares in the company, valued at approximately $1,153,712.75. This represents a 736.25 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew Lynn Asher bought 17,200 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was acquired at an average price of $58.14 per share, for a total transaction of $1,000,008.00. Following the completion of the transaction, the chief financial officer now 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 disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 45,010 shares of company stock worth $2,660,276. 0.33% of the stock is currently 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.