Centene Corporation $CNC Shares Bought by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC grew its stake in Centene Corporation (NYSE:CNC) by 126.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 146,439 shares of the company’s stock after purchasing an additional 81,749 shares during the period. Pallas Capital Advisors LLC’s holdings in Centene were worth $6,026,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CNC. Addison Advisors LLC lifted its position in Centene by 455.6% in the third quarter. Addison Advisors LLC now owns 739 shares of the company’s stock valued at $26,000 after acquiring an additional 606 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Centene during the third quarter worth about $27,000. WPG Advisers LLC increased 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 in the last quarter. Bogart Wealth LLC lifted its holdings in shares of Centene by 11,011.1% in the 3rd quarter. Bogart Wealth LLC now owns 1,000 shares of the company’s stock valued at $36,000 after purchasing an additional 991 shares during the last quarter. Finally, Ameriflex Group Inc. lifted its holdings in shares of Centene by 152.5% in the 3rd quarter. Ameriflex Group Inc. now owns 1,010 shares of the company’s stock valued at $36,000 after purchasing an additional 610 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Centene Trading Down 4.6%

Shares of CNC stock opened at $32.00 on Friday. The company has a market capitalization of $15.74 billion, a P/E ratio of -2.35, a price-to-earnings-growth ratio of 0.74 and a beta of 0.48. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.87. The business’s 50 day moving average is $40.39 and its two-hundred day moving average is $38.67. Centene Corporation has a twelve month low of $25.08 and a twelve month high of $66.03.

Centene (NYSE:CNC) last released its quarterly earnings results on Friday, February 6th. The company reported ($1.19) EPS for the quarter, topping the consensus estimate 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 business had revenue of $49.73 billion during the quarter, compared to analysts’ expectations of $48.41 billion. During the same quarter in the prior year, the business 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. Equities analysts forecast that Centene Corporation will post 6.86 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Jefferies Financial Group dropped their price target on Centene from $43.00 to $37.00 and set a “hold” rating on the stock in a research note on Friday, February 13th. JPMorgan Chase & Co. decreased their price objective on Centene from $45.00 to $41.00 and set a “neutral” rating for the company in a report on Thursday, March 19th. Truist Financial raised their target price on shares of Centene from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $41.00 price target on shares of Centene in a research report on Monday, February 9th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Centene in a research note on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.