Securian Asset Management Inc. Sells 412 Shares of Centene Corporation $CNC

Securian Asset Management Inc. lessened its holdings in shares of Centene Corporation (NYSE:CNC) by 1.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,856 shares of the company’s stock after selling 412 shares during the quarter. Securian Asset Management Inc.’s holdings in Centene were worth $1,403,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Quarry LP acquired a new stake in Centene during the 1st quarter worth $26,000. Golden State Wealth Management LLC raised its stake in Centene by 203.1% during the 1st quarter. Golden State Wealth Management LLC now owns 579 shares of the company’s stock worth $35,000 after buying an additional 388 shares during the period. Trust Co. of Toledo NA OH acquired a new stake in Centene during the 2nd quarter worth $77,000. Geneos Wealth Management Inc. raised its stake in Centene by 78.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,462 shares of the company’s stock worth $89,000 after buying an additional 641 shares during the period. Finally, OFI Invest Asset Management raised its stake in shares of Centene by 44.9% in the 2nd quarter. OFI Invest Asset Management now owns 1,700 shares of the company’s stock valued at $92,000 after purchasing an additional 527 shares during the period. Institutional investors and hedge funds own 93.63% of the company’s stock.

Insider Transactions at Centene

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

Wall Street Analyst Weigh In

CNC has been the topic of several recent research reports. Truist Financial set a $42.00 price target on Centene in a research note on Tuesday, October 14th. UBS Group dropped their price target on Centene from $45.00 to $31.00 and set a “neutral” rating on the stock in a research note on Monday, July 28th. Wells Fargo & Company set a $41.00 price target on Centene and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Barclays lifted their price target on Centene from $33.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, September 12th. Finally, TD Cowen reaffirmed a “hold” rating and issued a $33.00 target price (down previously from $73.00) on shares of Centene in a research report on Monday, July 21st. Three research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $39.50.

Centene Price Performance

NYSE:CNC opened at $36.00 on Thursday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.10 and a current ratio of 1.10. The stock’s 50-day simple moving average is $32.75 and its 200 day simple moving average is $43.22. The company has a market cap of $17.68 billion, a P/E ratio of 8.91, a P/E/G ratio of 1.42 and a beta of 0.48. Centene Corporation has a 52-week low of $25.08 and a 52-week high of $70.11.

Centene (NYSE:CNC) last posted its quarterly earnings results on Friday, July 25th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.39). Centene had a return on equity of 9.57% and a net margin of 1.15%.The business had revenue of $48.74 billion for the quarter, compared to the consensus estimate of $44.71 billion. During the same quarter in the previous year, the business posted $2.42 EPS. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. Centene has set its FY 2025 guidance at 1.750-1.750 EPS. As a group, sell-side analysts forecast that Centene Corporation will post 6.86 EPS for the current fiscal year.

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.