Centene Corporation $CNC Shares Sold by Allegiance Financial Group Advisory Services LLC

Allegiance Financial Group Advisory Services LLC lessened its position in shares of Centene Corporation (NYSE:CNC) by 17.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,742 shares of the company’s stock after selling 1,233 shares during the quarter. Allegiance Financial Group Advisory Services LLC’s holdings in Centene were worth $312,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of Centene in the first quarter valued at about $26,000. Golden State Wealth Management LLC grew its position in shares of Centene by 203.1% in the first quarter. Golden State Wealth Management LLC now owns 579 shares of the company’s stock valued at $35,000 after purchasing an additional 388 shares during the period. ORG Wealth Partners LLC acquired a new stake in shares of Centene in the first quarter valued at about $73,000. Geneos Wealth Management Inc. grew its position in shares of Centene by 78.1% in the first quarter. Geneos Wealth Management Inc. now owns 1,462 shares of the company’s stock valued at $89,000 after purchasing an additional 641 shares during the period. Finally, Reyes Financial Architecture Inc. acquired a new stake in shares of Centene in the second quarter valued at about $106,000. Institutional investors and hedge funds own 93.63% of the company’s stock.

Wall Street Analyst Weigh In

CNC has been the topic of several research analyst reports. Oppenheimer dropped their target price on shares of Centene from $51.00 to $43.00 and set an “outperform” rating on the stock in a research report on Monday, July 28th. Barclays lifted their target price on shares of Centene from $33.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, September 12th. Cantor Fitzgerald reissued a “neutral” rating and issued a $38.00 price target on shares of Centene in a research note on Tuesday, August 26th. Wells Fargo & Company set a $41.00 price target on shares of Centene and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, Mizuho decreased their price target on shares of Centene from $71.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, July 11th. Three investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Centene presently has an average rating of “Hold” and an average target price of $39.07.

Centene Trading Up 0.1%

Shares of NYSE CNC opened at $38.44 on Thursday. The stock has a market cap of $18.88 billion, a price-to-earnings ratio of 9.51, a PEG ratio of 1.56 and a beta of 0.48. The business has a 50 day simple moving average of $30.70 and a 200 day simple moving average of $44.92. Centene Corporation has a 52 week low of $25.08 and a 52 week high of $73.50. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.10 and a current ratio of 1.10.

Centene (NYSE:CNC) last announced its quarterly earnings results on Friday, July 25th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.23 by ($0.39). The firm had revenue of $48.74 billion during the quarter, compared to the consensus estimate of $44.71 billion. Centene had a net margin of 1.15% and a return on equity of 9.57%. The company’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.42 EPS. Centene has set its FY 2025 guidance at 1.750-1.750 EPS. On average, research analysts predict that Centene Corporation will post 6.86 earnings per share for the current fiscal year.

Insider Activity at Centene

In other news, CEO Sarah London purchased 19,230 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average price of $25.50 per share, with a total value of $490,365.00. Following the purchase, the chief executive officer owned 845,275 shares in the company, valued at $21,554,512.50. This represents a 2.33% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Theodore R. Samuels II bought 9,000 shares of the firm’s stock in a transaction on Monday, July 28th. The shares were bought at an average cost of $27.62 per share, with a total value of $248,580.00. Following the transaction, the director directly owned 32,000 shares of the company’s stock, valued at approximately $883,840. This trade represents a 39.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.36% of the company’s stock.

Centene Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children’s health insurance program, foster care, medicare-medicaid plans, long-term services and support.