Centene Corporation $CNC Shares Sold by Groupama Asset Managment

Groupama Asset Managment reduced its stake in Centene Corporation (NYSE:CNC) by 70.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,649 shares of the company’s stock after selling 27,900 shares during the period. Groupama Asset Managment’s holdings in Centene were worth $416,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Norges Bank acquired a new position in Centene during the 2nd quarter worth about $1,435,997,000. State Street Corp grew its position in Centene by 2.3% in 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. AQR Capital Management LLC increased its stake in Centene by 76.6% during the third quarter. AQR Capital Management LLC now owns 14,654,834 shares of the company’s stock worth $522,885,000 after purchasing an additional 6,356,152 shares during the period. Invesco Ltd. lifted its position 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 in the last quarter. Finally, Deerfield Management Company L.P. boosted its stake in shares of Centene by 184.0% in the third 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 period. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene Stock Performance

Shares of CNC stock opened at $34.36 on Friday. The company has a market cap of $16.90 billion, a P/E ratio of -2.52, a PEG ratio of 0.76 and a beta of 0.48. The firm has a fifty day moving average price of $41.74 and a 200 day moving average price of $38.61. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.87. Centene Corporation has a 12 month low of $25.08 and a 12 month high of $66.03.

Centene (NYSE:CNC) last posted its quarterly earnings results on Friday, February 6th. The company reported ($1.19) earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $48.41 billion. During the same period last year, the firm earned $0.80 earnings per share. Centene’s quarterly revenue was up 21.9% on a year-over-year basis. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. Sell-side analysts predict that Centene Corporation will post 6.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

CNC has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft upped their target price on shares of Centene from $32.00 to $39.00 and gave the stock a “hold” rating in a research note on Tuesday, February 10th. Wells Fargo & Company set a $44.00 price target on shares of Centene and gave the stock an “equal weight” rating in a research note on Wednesday, February 18th. JPMorgan Chase & Co. reduced 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. Jefferies Financial Group decreased their target price on Centene from $43.00 to $37.00 and set a “hold” rating for the company in a report on Friday, February 13th. Finally, Mizuho set a $41.00 price target on Centene and gave the stock a “neutral” rating in a report on Tuesday, March 10th. Three equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Centene currently has a consensus rating of “Hold” and an average price target of $41.81.

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.