Quinn Opportunity Partners LLC Has $5.39 Million Position in Centene Corporation $CNC

Quinn Opportunity Partners LLC grew its position in Centene Corporation (NYSE:CNC) by 64.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 150,981 shares of the company’s stock after acquiring an additional 59,000 shares during the period. Quinn Opportunity Partners LLC’s holdings in Centene were worth $5,387,000 at the end of the most recent quarter.

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

Centene Price Performance

Centene stock opened at $34.47 on Friday. The stock’s fifty day moving average price is $42.81 and its two-hundred day moving average price is $38.33. The firm has a market cap of $16.95 billion, a PE ratio of -2.53, a price-to-earnings-growth ratio of 0.77 and a beta of 0.48. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.10 and a quick ratio of 1.10. Centene Corporation has a one year low of $25.08 and a one year high of $66.03.

Centene (NYSE:CNC) last released its 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. The company had revenue of $49.73 billion for the quarter, compared to analyst estimates of $48.41 billion. Centene had a positive return on equity of 4.25% and a negative net margin of 3.43%.Centene’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.80 EPS. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. As a group, research analysts expect that Centene Corporation will post 6.86 EPS for the current fiscal year.

Analysts Set New Price Targets

CNC has been the topic of a number of research analyst reports. TD Cowen increased their price target on Centene from $34.00 to $38.00 and gave the company a “hold” rating in a research note on Wednesday, February 11th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $41.00 price objective on shares of Centene in a report on Monday, February 9th. JPMorgan Chase & Co. increased their price objective on shares of Centene from $38.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, January 22nd. Argus raised shares of Centene to a “hold” rating in a report on Monday, February 9th. Finally, Truist Financial upped their price target on shares of Centene from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Three analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $42.06.

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.