Shell Asset Management Co. Sells 45,347 Shares of Centene Corporation $CNC

Shell Asset Management Co. trimmed its position in Centene Corporation (NYSE:CNC) by 69.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 20,064 shares of the company’s stock after selling 45,347 shares during the quarter. Shell Asset Management Co.’s holdings in Centene were worth $716,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Centene in the 3rd quarter worth approximately $27,000. WPG Advisers LLC increased its position in Centene by 44.5% in the third quarter. WPG Advisers LLC now owns 915 shares of the company’s stock worth $33,000 after purchasing an additional 282 shares during the last quarter. Bogart Wealth LLC raised its stake in Centene by 11,011.1% during the third quarter. Bogart Wealth LLC now owns 1,000 shares of the company’s stock valued at $36,000 after purchasing an additional 991 shares in the last quarter. Financial Network Wealth Advisors LLC grew its stake in shares of Centene by 54.9% in the 3rd quarter. Financial Network Wealth Advisors LLC now owns 1,100 shares of the company’s stock worth $39,000 after buying an additional 390 shares in the last quarter. Finally, Quent Capital LLC bought a new stake in shares of Centene in the 3rd quarter worth about $45,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene Stock Up 3.4%

NYSE:CNC opened at $40.53 on Tuesday. The stock has a fifty day simple moving average of $42.18 and a 200-day simple moving average of $36.55. The company has a current ratio of 1.10, a quick ratio of 1.08 and a debt-to-equity ratio of 0.87. The company has a market cap of $19.92 billion, a price-to-earnings ratio of -2.98, a price-to-earnings-growth ratio of 0.90 and a beta of 0.48. Centene Corporation has a twelve month low of $25.08 and a twelve month high of $66.03.

Centene (NYSE:CNC) last posted its quarterly earnings results on Friday, February 6th. The company reported ($1.19) EPS for the quarter, topping the consensus estimate of ($1.22) by $0.03. The company had revenue of $49.73 billion for the quarter, compared to the consensus estimate of $48.41 billion. Centene had a negative net margin of 3.43% and a positive return on equity of 4.25%. The firm’s revenue was up 21.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.80 EPS. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. Analysts anticipate that Centene Corporation will post 6.86 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Barclays set a $44.00 price target on Centene and gave the stock an “equal weight” rating in a research report on Tuesday, November 4th. Weiss Ratings reiterated a “sell (d)” rating on shares of Centene in a report on Wednesday, January 21st. TD Cowen increased their price target on Centene from $34.00 to $38.00 and gave the company a “hold” rating in a report on Wednesday, February 11th. Jefferies Financial Group dropped their price objective on shares of Centene from $43.00 to $37.00 and set a “hold” rating for the company in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Centene from $32.00 to $39.00 and gave the company a “hold” rating in a research note on Tuesday, February 10th. Three investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Centene has an average rating of “Hold” and an average target price of $41.81.

Centene Profile

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.