AIA Group Ltd Has $4.54 Million Position in Centene Corporation $CNC

AIA Group Ltd lifted its stake in Centene Corporation (NYSE:CNC) by 102.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 127,367 shares of the company’s stock after acquiring an additional 64,475 shares during the quarter. AIA Group Ltd’s holdings in Centene were worth $4,544,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Centene in the 2nd quarter valued at approximately $1,435,997,000. AQR Capital Management LLC raised its holdings in shares of Centene by 76.6% during the 3rd quarter. AQR Capital Management LLC now owns 14,654,834 shares of the company’s stock valued at $522,885,000 after purchasing an additional 6,356,152 shares in the last quarter. Deerfield Management Company L.P. lifted its stake in shares of Centene by 184.0% in the 3rd quarter. Deerfield Management Company L.P. now owns 9,046,000 shares of the company’s stock valued at $322,761,000 after purchasing an additional 5,860,630 shares during the last quarter. 8 Knots Management LLC bought a new stake in Centene in the third quarter worth $186,662,000. Finally, Arrowstreet Capital Limited Partnership increased its position in Centene by 32.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 8,716,056 shares of the company’s stock worth $310,989,000 after buying an additional 2,111,674 shares during the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Centene Stock Performance

CNC opened at $35.57 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.87. The stock’s 50 day moving average price is $41.98 and its two-hundred day moving average price is $38.51. The firm has a market capitalization of $17.49 billion, a P/E ratio of -2.61, a price-to-earnings-growth ratio of 0.80 and a beta of 0.48. Centene Corporation has a 12-month low of $25.08 and a 12-month high of $66.03.

Centene (NYSE:CNC) last issued its quarterly earnings results on Friday, February 6th. The company reported ($1.19) EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $48.41 billion. During the same period in the previous year, the company earned $0.80 earnings per share. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. On average, equities analysts forecast that Centene Corporation will post 6.86 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CNC. Deutsche Bank Aktiengesellschaft boosted their price target on Centene from $32.00 to $39.00 and gave the stock a “hold” rating in a research report on Tuesday, February 10th. JPMorgan Chase & Co. cut their price objective on Centene from $45.00 to $41.00 and set a “neutral” rating on the stock in a research note on Thursday. Truist Financial upped their target price on Centene from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Argus upgraded Centene to a “hold” rating in a report on Monday, February 9th. Finally, Jefferies Financial Group reduced their price objective on shares of Centene from $43.00 to $37.00 and set a “hold” rating for the company in a research note on Friday, February 13th. Three equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $41.81.

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.