Rhumbline Advisers Sells 38,557 Shares of Centene Corporation $CNC

Rhumbline Advisers lowered its position in shares of Centene Corporation (NYSE:CNC) by 3.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,086,024 shares of the company’s stock after selling 38,557 shares during the quarter. Rhumbline Advisers owned 0.22% of Centene worth $38,749,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CNC. WPG Advisers LLC raised its position 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 purchasing an additional 282 shares during the period. Versant Capital Management Inc raised its stake in shares of Centene by 11.6% during the 3rd quarter. Versant Capital Management Inc now owns 3,421 shares of the company’s stock worth $122,000 after purchasing an additional 355 shares in the last quarter. Snowden Capital Advisors LLC increased its holdings 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 buying an additional 374 shares during the last quarter. Financial Network Wealth Advisors LLC raised its holdings in shares of 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 purchasing an additional 390 shares during the period. Finally, Geneos Wealth Management Inc. increased its position in Centene by 29.8% during the second quarter. Geneos Wealth Management Inc. now owns 1,897 shares of the company’s stock worth $103,000 after buying an additional 435 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.

Centene Price Performance

CNC stock opened at $40.53 on Friday. The company’s 50-day moving average price is $42.13 and its two-hundred day moving average price is $36.37. Centene Corporation has a 12 month low of $25.08 and a 12 month high of $66.03. The company has a quick ratio of 1.08, a current ratio of 1.10 and a debt-to-equity ratio of 0.87. The firm has a market cap of $19.92 billion, a P/E ratio of -2.98, a P/E/G ratio of 0.90 and a beta of 0.48.

Centene (NYSE:CNC) last announced its quarterly earnings data 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 negative net margin of 3.43% and a positive return on equity of 4.25%. The business had revenue of $49.73 billion during the quarter, compared to the consensus estimate of $48.41 billion. During the same period in the previous year, the business earned $0.80 earnings per share. The company’s revenue was up 21.9% on a year-over-year basis. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. On average, analysts anticipate that Centene Corporation will post 6.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on CNC shares. Zacks Research upgraded shares of Centene from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 29th. Truist Financial upped their target price on Centene from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Monday, January 5th. Sanford C. Bernstein restated an “outperform” rating and issued a $59.00 price target on shares of Centene in a research note on Tuesday, January 6th. Robert W. Baird boosted their target price on shares of Centene from $28.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Centene from $32.00 to $39.00 and gave the company a “hold” rating in a report on Tuesday, February 10th. Three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Centene has a consensus rating of “Hold” and a consensus price target of $41.81.

About Centene

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.