Centene Corporation $CNC Stock Holdings Decreased by Swedbank AB

Swedbank AB lowered its stake in Centene Corporation (NYSE:CNC) by 13.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,465,482 shares of the company’s stock after selling 231,623 shares during the period. Swedbank AB owned 0.29% of Centene worth $88,969,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CNC. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Centene by 8.8% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 2,092 shares of the company’s stock valued at $127,000 after buying an additional 169 shares during the period. Quadcap Wealth Management LLC lifted its stake in shares of Centene by 3.2% in the 1st quarter. Quadcap Wealth Management LLC now owns 5,617 shares of the company’s stock worth $341,000 after acquiring an additional 172 shares during the period. Poinciana Advisors Group LLC lifted its stake in shares of Centene by 2.8% in the 1st quarter. Poinciana Advisors Group LLC now owns 7,221 shares of the company’s stock worth $438,000 after acquiring an additional 195 shares during the period. Carnegie Investment Counsel lifted its stake in shares of Centene by 6.0% in the 1st quarter. Carnegie Investment Counsel now owns 3,811 shares of the company’s stock worth $234,000 after acquiring an additional 215 shares during the period. Finally, Allworth Financial LP raised its holdings in shares of Centene by 6.1% in the 1st quarter. Allworth Financial LP now owns 4,387 shares of the company’s stock worth $270,000 after purchasing an additional 254 shares in the last quarter. Institutional investors own 93.63% of the company’s stock.

Insider Buying and Selling at Centene

In related news, CEO Sarah London bought 19,230 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average cost of $25.50 per share, for a total transaction of $490,365.00. Following the purchase, the chief executive officer directly owned 845,275 shares in the company, valued at $21,554,512.50. This trade represents a 2.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Theodore R. Samuels II acquired 9,000 shares of the company’s stock in a transaction dated Monday, July 28th. The stock was acquired at an average price of $27.62 per share, with a total value of $248,580.00. Following the purchase, the director owned 32,000 shares in the company, valued at approximately $883,840. This represents a 39.13% increase in their position. The disclosure for this purchase can be found here. 0.36% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CNC has been the topic of a number of research reports. Bank of America downgraded shares of Centene from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $52.00 to $30.00 in a report on Wednesday, July 16th. Wall Street Zen downgraded shares of Centene from a “buy” rating to a “hold” rating in a research report on Saturday, July 12th. Sanford C. Bernstein lowered their price objective on shares of Centene from $40.00 to $36.00 and set an “outperform” rating on the stock in a research report on Friday, September 5th. Mizuho decreased their target price on shares of Centene from $71.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, July 11th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $38.00 target price on shares of Centene in a research report on Tuesday, August 26th. Three research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $38.33.

Centene Price Performance

NYSE:CNC opened at $33.20 on Friday. The stock has a market cap of $16.31 billion, a P/E ratio of 8.22, a PEG ratio of 1.39 and a beta of 0.44. Centene Corporation has a one year low of $25.08 and a one year high of $77.29. The company has a fifty day moving average price of $28.74 and a 200 day moving average price of $47.89. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10.

Centene (NYSE:CNC) last released its earnings results on Friday, July 25th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.23 by ($0.39). The company had revenue of $48.74 billion for the quarter, compared to analyst estimates of $44.71 billion. Centene had a net margin of 1.15% and a return on equity of 9.57%. Centene’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.42 earnings per share. Centene has set its FY 2025 guidance at 1.750-1.750 EPS. Analysts anticipate that Centene Corporation will post 6.86 earnings per share for the current year.

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.