Thrivent Financial for Lutherans Cuts Position in Centene Corporation $CNC

Thrivent Financial for Lutherans trimmed its holdings in shares of Centene Corporation (NYSE:CNC) by 98.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,355 shares of the company’s stock after selling 1,779,704 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Centene were worth $1,226,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. National Pension Service raised its stake in shares of Centene by 12.0% during the 3rd quarter. National Pension Service now owns 1,042,866 shares of the company’s stock worth $37,209,000 after purchasing an additional 111,347 shares during the period. Winnow Wealth LLC purchased a new stake in Centene during the third quarter worth about $1,100,000. Arizona State Retirement System boosted its stake in Centene by 1.1% in the third quarter. Arizona State Retirement System now owns 146,641 shares of the company’s stock valued at $5,232,000 after acquiring an additional 1,652 shares during the last quarter. SYM FINANCIAL Corp grew its position in shares of Centene by 126.5% during the 3rd quarter. SYM FINANCIAL Corp now owns 8,842 shares of the company’s stock valued at $315,000 after acquiring an additional 4,938 shares during the period. Finally, Summit Global Investments purchased a new stake in shares of Centene during the 3rd quarter worth approximately $434,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Wall Street Analyst Weigh In

CNC has been the subject of several research reports. Wall Street Zen raised Centene from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Mizuho set a $47.00 price objective on Centene in a report on Friday, January 9th. Jefferies Financial Group boosted their price objective on Centene from $25.00 to $32.00 in a research note on Monday, November 3rd. UBS Group set a $42.00 target price on shares of Centene and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $59.00 price target on shares of Centene in a research report on Tuesday, January 6th. Three equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Centene presently has an average rating of “Hold” and an average price target of $41.50.

Centene Trading Up 3.4%

Shares of CNC opened at $40.53 on Friday. The business’s 50-day moving average price is $42.13 and its 200-day moving average price is $36.29. The company has a quick ratio of 1.08, a current ratio of 1.10 and a debt-to-equity ratio of 0.87. Centene Corporation has a twelve month low of $25.08 and a twelve month high of $66.03. The stock has a market cap of $19.92 billion, a PE ratio of -2.98, a P/E/G ratio of 0.87 and a beta of 0.48.

Centene (NYSE:CNC) last issued its quarterly earnings data on Friday, February 6th. The company reported ($1.19) EPS for the quarter, beating the consensus estimate of ($1.22) by $0.03. Centene had a negative net margin of 3.43% and a positive return on equity of 4.25%. The company had revenue of $49.73 billion during the quarter, compared to analysts’ expectations of $48.41 billion. During the same quarter in the previous year, the company earned $0.80 earnings per share. Centene’s revenue for the quarter was up 21.9% on a year-over-year basis. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. On average, equities analysts forecast that Centene Corporation will post 6.86 EPS for the current fiscal year.

About Centene

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.