Rhumbline Advisers Sells 38,557 Shares of Centene Corporation $CNC

Rhumbline Advisers decreased its position in Centene Corporation (NYSE:CNC) by 3.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,086,024 shares of the company’s stock after selling 38,557 shares during the period. Rhumbline Advisers’ holdings in Centene were worth $38,749,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Centene by 1.5% in the second quarter. Vanguard Group Inc. now owns 58,396,605 shares of the company’s stock valued at $3,169,768,000 after buying an additional 869,706 shares during the period. Norges Bank bought a new stake in shares of Centene in the 2nd quarter valued at $1,435,997,000. State Street Corp boosted its stake in Centene by 2.3% during the second quarter. State Street Corp now owns 23,186,927 shares of the company’s stock worth $1,258,586,000 after acquiring an additional 514,600 shares in the last quarter. Geode Capital Management LLC increased its stake in Centene by 2.2% in the second quarter. Geode Capital Management LLC now owns 13,208,639 shares of the company’s stock valued at $718,547,000 after purchasing an additional 279,637 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Centene by 5.7% in the second quarter. Invesco Ltd. now owns 11,725,910 shares of the company’s stock valued at $636,482,000 after purchasing an additional 633,946 shares during the period. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Stock Performance

Centene stock opened at $40.53 on Friday. Centene Corporation has a fifty-two week low of $25.08 and a fifty-two week high of $66.03. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.08 and a current ratio of 1.10. The stock has a market cap of $19.92 billion, a P/E ratio of -2.98, a price-to-earnings-growth ratio of 0.90 and a beta of 0.48. The firm’s fifty day moving average price is $42.13 and its 200-day moving average price is $36.37.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CNC shares. Barclays set a $44.00 price target on Centene and gave the company an “equal weight” rating in a research report on Tuesday, November 4th. Argus raised Centene to a “hold” rating in a report on Monday, February 9th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $59.00 price objective on shares of Centene in a research note on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Centene from $32.00 to $39.00 and gave the company a “hold” rating in a report on Tuesday, February 10th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and issued a $38.00 price target (up previously from $33.00) on shares of Centene in a report on Thursday, October 30th. Three analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $41.81.

Centene Company 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.