32,794 Centene Corporation $CNC Shares Purchased by Summit Global Investments

Summit Global Investments boosted its position in shares of Centene Corporation (NYSE:CNC) by 403.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,923 shares of the company’s stock after buying an additional 32,794 shares during the quarter. Summit Global Investments’ holdings in Centene were worth $2,542,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new position in Centene in the second quarter valued at about $2,660,422,000. Wellington Management Group LLP raised its holdings in Centene by 423.0% during the 2nd quarter. Wellington Management Group LLP now owns 13,301,215 shares of the company’s stock worth $853,805,000 after purchasing an additional 10,757,914 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Centene by 12.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,517,580 shares of the company’s stock valued at $354,173,000 after purchasing an additional 608,249 shares during the period. Assenagon Asset Management S.A. lifted its position in Centene by 21.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,518,785 shares of the company’s stock valued at $302,818,000 after purchasing an additional 802,756 shares during the period. Finally, Bank of America Corp DE bought a new position in shares of Centene in the 2nd quarter valued at about $285,713,000. Institutional investors own 93.63% of the company’s stock.

Centene Trading Down 0.3%

NYSE CNC opened at $68.42 on Friday. Centene Corporation has a one year low of $31.63 and a one year high of $72.50. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.16 and a quick ratio of 1.15. The firm has a market cap of $33.87 billion, a P/E ratio of 23.43, a P/E/G ratio of 0.40 and a beta of 1.13. The stock’s 50-day moving average is $66.09 and its 200-day moving average is $55.26.

Centene (NYSE:CNC) last issued its quarterly earnings data on Tuesday, October 27th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.48. Centene had a return on equity of 12.15% and a net margin of 0.72%. The business had revenue of $50.65 billion during the quarter, compared to analyst estimates of $47.12 billion. During the same period in the previous year, the firm earned $0.50 EPS. Centene’s quarterly revenue was up 1.9% compared to the same quarter last year. Sell-side analysts anticipate that Centene Corporation will post 5.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CNC has been the subject of several analyst reports. Wells Fargo & Company lifted their price target on shares of Centene from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday. HC Wainwright restated a “buy” rating on shares of Centene in a report on Friday, September 11th. UBS Group increased their price objective on shares of Centene from $70.00 to $78.00 and gave the company a “neutral” rating in a report on Wednesday. Jefferies Financial Group reaffirmed a “hold” rating and issued a $69.00 price objective on shares of Centene in a research note on Thursday. Finally, Barclays lifted their target price on shares of Centene from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Wednesday. Nine equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Centene presently has an average rating of “Hold” and an average target price of $73.60.

More Centene News

Here are the key news stories impacting Centene this week:

• Positive Sentiment: Analysts continue to raise price targets. Wells Fargo lifted its target from $69 to $75 while maintaining an “equal weight” rating. JPMorgan also raised its target from $67 to $75, and UBS increased its target from $70 to $78. These revisions suggest analysts see additional value after Centene’s earnings update, even though the ratings remain cautious. Wells Fargo analyst update JPMorgan analyst update UBS analyst update
• Positive Sentiment: Strong quarterly results and higher guidance support the stock. Centene exceeded earnings and revenue expectations, and its quarterly revenue increased year over year. The company’s guidance increase reinforces expectations for improved profitability and prompted additional analyst optimism. Centene Q3 earnings and guidance Centene guidance increase
• Neutral Sentiment: Analyst ratings remain restrained. Wells Fargo and UBS retain “equal weight” or “neutral” recommendations, indicating that the higher targets reflect moderate appreciation potential rather than a strong conviction that CNC is significantly undervalued. Centene analyst price target update
• Negative Sentiment: Membership pressure remains a key risk. Coverage has highlighted lingering membership challenges and uncertainty over whether Centene can maintain a stable health benefits ratio. These issues could offset the benefit of stronger earnings and guidance if they pressure margins or future revenue growth. Centene membership pressures Centene health benefits ratio analysis

Insider Transactions at Centene

In other Centene news, General Counsel Christopher Koster sold 56,500 shares of Centene stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $66.90, for a total value of $3,779,850.00. Following the sale, the general counsel owned 248,854 shares of the company’s stock, valued at $16,648,332.60. This trade represents a 18.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.37% of the company’s stock.

Centene Profile

Centene Corporation is a diversified healthcare enterprise that provides government-sponsored and commercial health insurance programs and related healthcare services. The company’s offerings are primarily focused on Medicaid, Medicare, and health insurance marketplace plans, with an emphasis on serving individuals and families who may have limited access to traditional healthcare coverage.

Centene operates Medicaid health plans through state-based contracts and offers Medicare Advantage, Medicare prescription drug, and Medicare Supplement products through its Wellcare brand.