Centene Corporation $CNC Position Increased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its position in Centene Corporation (NYSE:CNC) by 43.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,796 shares of the company’s stock after purchasing an additional 24,301 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Centene were worth $2,847,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Baird Financial Group Inc. acquired a new position in Centene in the first quarter worth approximately $236,000. Sivia Capital Partners LLC grew its position in Centene by 80.0% in the second quarter. Sivia Capital Partners LLC now owns 9,710 shares of the company’s stock worth $527,000 after acquiring an additional 4,315 shares in the last quarter. Forum Financial Management LP raised its holdings in shares of Centene by 15.4% during the 2nd quarter. Forum Financial Management LP now owns 8,791 shares of the company’s stock valued at $477,000 after purchasing an additional 1,172 shares in the last quarter. Focus Partners Advisor Solutions LLC lifted its stake in shares of Centene by 2.1% in the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 23,067 shares of the company’s stock valued at $1,252,000 after purchasing an additional 479 shares during the last quarter. Finally, AG2R LA Mondiale Gestion D Actifs boosted its holdings in Centene by 16.1% in the second quarter. AG2R LA Mondiale Gestion D Actifs now owns 26,479 shares of the company’s stock worth $1,437,000 after purchasing an additional 3,667 shares in the last quarter. 93.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on CNC shares. Truist Financial boosted their price target on Centene from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. Zacks Research upgraded Centene from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 29th. TD Cowen upped their target price on Centene from $34.00 to $38.00 and gave the stock a “hold” rating in a research report on Wednesday, February 11th. Argus upgraded shares of Centene to a “hold” rating in a research note on Monday, February 9th. Finally, Jefferies Financial Group lowered their target price on shares of Centene from $43.00 to $37.00 and set a “hold” rating on the stock in a research note on Friday, February 13th. Three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $41.88.

Centene Trading Down 1.1%

Shares of CNC stock opened at $43.21 on Friday. The firm has a market capitalization of $21.25 billion, a P/E ratio of -3.17, a price-to-earnings-growth ratio of 0.96 and a beta of 0.48. Centene Corporation has a 1 year low of $25.08 and a 1 year high of $66.03. The firm’s fifty day simple moving average is $42.44 and its 200 day simple moving average is $36.94. The company has a current ratio of 1.10, a quick ratio of 1.08 and a debt-to-equity ratio of 0.87.

Centene (NYSE:CNC) last posted its quarterly earnings results on Friday, February 6th. The company reported ($1.19) earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $48.41 billion. During the same period last year, the business posted $0.80 EPS. The business’s quarterly revenue was up 21.9% on a year-over-year basis. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. As a group, sell-side analysts predict that Centene Corporation will post 6.86 EPS for the current year.

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.