Citigroup Inc. Has $33.57 Million Stock Position in Centene Corporation $CNC

Citigroup Inc. increased its position in shares of Centene Corporation (NYSE:CNC) by 12.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 940,961 shares of the company’s stock after acquiring an additional 104,112 shares during the quarter. Citigroup Inc. owned 0.19% of Centene worth $33,573,000 as of its most recent SEC filing.

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

Centene Stock Performance

Shares of NYSE CNC opened at $42.35 on Wednesday. The business’s 50-day simple moving average is $42.57 and its 200-day simple moving average is $37.27. Centene Corporation has a 52 week low of $25.08 and a 52 week high of $66.03. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $20.82 billion, a price-to-earnings ratio of -3.11, a P/E/G ratio of 0.96 and a beta of 0.48.

Centene (NYSE:CNC) last announced its quarterly earnings results on Friday, February 6th. The company reported ($1.19) EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $48.41 billion. During the same quarter last year, the company posted $0.80 earnings per share. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. As a group, equities research analysts expect that Centene Corporation will post 6.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on CNC. Jefferies Financial Group cut their target price on shares of Centene from $43.00 to $37.00 and set a “hold” rating for the company in a research report on Friday, February 13th. 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. The Goldman Sachs Group restated a “sell” rating and issued a $38.00 target price (up from $33.00) on shares of Centene in a research note on Thursday, October 30th. Barclays set a $44.00 price target on Centene and gave the stock an “equal weight” rating in a research note on Tuesday, November 4th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $59.00 price target on shares of Centene in a research note on Tuesday, January 6th. Three research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $41.88.

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.