Fifth Third Wealth Advisors LLC Purchases 1,481 Shares of Centene Co. (NYSE:CNC)

Fifth Third Wealth Advisors LLC lifted its position in shares of Centene Co. (NYSE:CNC) by 53.0% during the 4th quarter, Holdings Channel reports. The firm owned 4,276 shares of the company’s stock after purchasing an additional 1,481 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Centene were worth $259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Mount Yale Investment Advisors LLC raised its stake in Centene by 2.1% in the third quarter. Mount Yale Investment Advisors LLC now owns 8,082 shares of the company’s stock valued at $608,000 after buying an additional 167 shares during the period. E Fund Management Co. Ltd. raised its stake in Centene by 6.4% in the 2nd quarter. E Fund Management Co. Ltd. now owns 3,309 shares of the company’s stock valued at $219,000 after acquiring an additional 199 shares during the period. Aptus Capital Advisors LLC lifted its holdings in Centene by 6.2% during the 3rd quarter. Aptus Capital Advisors LLC now owns 3,722 shares of the company’s stock valued at $280,000 after purchasing an additional 217 shares during the last quarter. CX Institutional increased its holdings in shares of Centene by 7.3% in the third quarter. CX Institutional now owns 3,919 shares of the company’s stock valued at $295,000 after purchasing an additional 266 shares during the last quarter. Finally, Forte Capital LLC ADV raised its position in shares of Centene by 5.5% in the third quarter. Forte Capital LLC ADV now owns 5,320 shares of the company’s stock valued at $400,000 after purchasing an additional 275 shares during the period. 93.63% of the stock is owned by institutional investors.

Insider Buying and Selling at Centene

In other Centene news, CFO Andrew Lynn Asher bought 17,200 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were purchased 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 directly owns 486,847 shares in the company, valued at approximately $28,305,284.58. The trade was a 3.66 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Sarah London bought 4,117 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was bought at an average cost of $60.80 per share, with a total value of $250,313.60. Following the acquisition, the chief executive officer now directly owns 667,229 shares of the company’s stock, 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. Insiders bought a total of 45,010 shares of company stock worth $2,660,276 over the last three months. Corporate insiders own 0.29% of the company’s stock.

Centene Price Performance

Shares of NYSE:CNC opened at $62.19 on Friday. 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 stock has a market capitalization of $31.40 billion, a PE ratio of 10.80, a PEG ratio of 0.83 and a beta of 0.45. The firm has a 50 day moving average of $60.12 and a 200-day moving average of $67.32. Centene Co. has a 12 month low of $55.03 and a 12 month high of $81.42.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Jefferies Financial Group lowered shares of Centene from a “hold” rating to an “underperform” rating and decreased their price target for the company from $68.00 to $52.00 in a research note on Tuesday, December 10th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $75.00 target price (down previously from $80.00) on shares of Centene in a research report on Tuesday, December 17th. StockNews.com cut Centene from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Truist Financial decreased their price objective on Centene from $89.00 to $84.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Finally, Barclays boosted their target price on shares of Centene from $91.00 to $93.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $80.92.

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.