Centene Corporation $CNC Shares Purchased by Alberta Investment Management Corp

Alberta Investment Management Corp raised its stake in Centene Corporation (NYSE:CNC) by 22.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,075,000 shares of the company’s stock after purchasing an additional 194,300 shares during the period. Centene accounts for approximately 0.4% of Alberta Investment Management Corp’s holdings, making the stock its 29th biggest holding. Alberta Investment Management Corp owned 0.22% of Centene worth $38,356,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CNC. Addison Advisors LLC boosted its holdings in shares of Centene by 455.6% in the 3rd quarter. Addison Advisors LLC now owns 739 shares of the company’s stock valued at $26,000 after buying an additional 606 shares during the period. Mowery & Schoenfeld Wealth Management LLC bought a new position in Centene in the third quarter worth about $27,000. WPG Advisers LLC boosted its stake in Centene by 44.5% in the third quarter. WPG Advisers LLC now owns 915 shares of the company’s stock valued at $33,000 after acquiring an additional 282 shares during the period. Bogart Wealth LLC raised its position in shares of Centene by 11,011.1% during the 3rd quarter. Bogart Wealth LLC now owns 1,000 shares of the company’s stock worth $36,000 after purchasing an additional 991 shares during the period. Finally, Financial Network Wealth Advisors LLC lifted its holdings in shares of Centene by 54.9% in the 3rd quarter. Financial Network Wealth Advisors LLC now owns 1,100 shares of the company’s stock worth $39,000 after purchasing an additional 390 shares during the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Trading Up 4.4%

Shares of NYSE:CNC opened at $43.06 on Thursday. The company has a current ratio of 1.10, a quick ratio of 1.08 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $21.17 billion, a PE ratio of -3.16, a P/E/G ratio of 0.91 and a beta of 0.48. The firm has a fifty day moving average price of $42.33 and a 200 day moving average price of $36.70. Centene Corporation has a 1 year low of $25.08 and a 1 year high of $66.03.

Centene (NYSE:CNC) last posted its earnings results on Friday, February 6th. The company reported ($1.19) earnings per share for the quarter, topping the consensus estimate of ($1.22) by $0.03. The firm had revenue of $49.73 billion during 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%.The company’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.80 EPS. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. Analysts expect that Centene Corporation will post 6.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Jefferies Financial Group cut their price objective on shares of Centene from $43.00 to $37.00 and set a “hold” rating on the stock in a research report on Friday, February 13th. Oppenheimer reaffirmed an “outperform” rating and set a $45.00 price target on shares of Centene in a report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft increased their price objective on Centene from $32.00 to $39.00 and gave the stock a “hold” rating in a report on Tuesday, February 10th. Mizuho set a $47.00 target price on Centene in a research note on Friday, January 9th. Finally, JPMorgan Chase & Co. increased their price target on Centene from $38.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, January 22nd. 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 stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $41.88.

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.