Arrowstreet Capital Limited Partnership Raises Stock Holdings in Centene Corporation $CNC

Arrowstreet Capital Limited Partnership increased its stake in shares of Centene Corporation (NYSE:CNC) by 32.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,716,056 shares of the company’s stock after purchasing an additional 2,111,674 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.77% of Centene worth $310,989,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WPG Advisers LLC grew its holdings in shares of Centene by 44.5% during the third quarter. WPG Advisers LLC now owns 915 shares of the company’s stock worth $33,000 after buying an additional 282 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Centene by 11.6% during the third quarter. Versant Capital Management Inc now owns 3,421 shares of the company’s stock valued at $122,000 after buying an additional 355 shares during the period. Snowden Capital Advisors LLC boosted its position in Centene by 8.0% during the second quarter. Snowden Capital Advisors LLC now owns 5,073 shares of the company’s stock worth $275,000 after acquiring an additional 374 shares during the last quarter. MAI Capital Management grew its stake in Centene by 6.3% in the 3rd quarter. MAI Capital Management now owns 6,545 shares of the company’s stock worth $234,000 after acquiring an additional 388 shares during the period. Finally, Financial Network Wealth Advisors LLC raised its holdings in Centene by 54.9% in the 3rd quarter. Financial Network Wealth Advisors LLC now owns 1,100 shares of the company’s stock valued at $39,000 after acquiring an additional 390 shares during the last quarter. 93.63% of the stock is currently owned by hedge funds and other institutional investors.

Centene Stock Performance

Centene stock opened at $34.46 on Friday. The company has a market cap of $16.95 billion, a price-to-earnings ratio of -2.53, a price-to-earnings-growth ratio of 0.79 and a beta of 0.48. Centene Corporation has a 12 month low of $25.08 and a 12 month high of $66.03. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.10 and a quick ratio of 1.10. The stock’s 50-day moving average is $42.96 and its 200-day moving average is $38.29.

Centene (NYSE:CNC) last posted its earnings results on Friday, February 6th. The company reported ($1.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.03. The firm had revenue of $49.73 billion during the quarter, compared to the consensus estimate of $48.41 billion. Centene had a negative net margin of 3.43% and a positive return on equity of 4.25%. The company’s revenue was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.80 EPS. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. Equities analysts anticipate that Centene Corporation will post 6.86 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on CNC. Morgan Stanley raised their price objective on Centene from $38.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 4th. Robert W. Baird increased their target price on Centene from $28.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. JPMorgan Chase & Co. raised 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. Truist Financial upped their price objective 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. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $41.00 price objective on shares of Centene in a report on Monday, February 9th. Three investment 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 MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $42.06.

Centene 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.