Centene Corporation $CNC Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its stake in Centene Corporation (NYSE:CNC) by 23.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 302,072 shares of the company’s stock after selling 91,182 shares during the period. The Manufacturers Life Insurance Company’s holdings in Centene were worth $9,890,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. DV Equities LLC acquired a new position in Centene during the 4th quarter worth approximately $26,000. IFC & Insurance Marketing Inc. acquired a new stake in Centene in the fourth quarter valued at approximately $28,000. SBI Securities Co. Ltd. raised its stake in shares of Centene by 118.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock valued at $31,000 after purchasing an additional 406 shares during the period. Bayban acquired a new position in shares of Centene during the fourth quarter worth $33,000. Finally, MV Capital Management Inc. acquired a new stake in Centene during the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene Stock Performance

Shares of Centene stock opened at $63.72 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.15 and a current ratio of 1.15. Centene Corporation has a 1 year low of $25.08 and a 1 year high of $69.36. The firm’s 50-day simple moving average is $63.96 and its 200-day simple moving average is $50.42. The firm has a market cap of $31.48 billion, a PE ratio of -6.10, a price-to-earnings-growth ratio of 0.33 and a beta of 1.07.

Centene (NYSE:CNC) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $1.42. Centene had a positive return on equity of 12.12% and a negative net margin of 2.51%.The business had revenue of $53.58 billion during the quarter, compared to the consensus estimate of $47.64 billion. During the same period last year, the firm earned ($0.16) earnings per share. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. Centene has set its FY 2026 guidance at 4.800- EPS. Equities analysts forecast that Centene Corporation will post 4.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on CNC. Sanford C. Bernstein reiterated an “outperform” rating and issued a $79.00 price objective (up from $68.00) on shares of Centene in a report on Monday. Barclays reaffirmed an “overweight” rating and set a $80.00 target price (up from $75.00) on shares of Centene in a research report on Wednesday, July 29th. Morgan Stanley set a $66.00 price target on Centene in a research note on Wednesday, July 29th. Robert W. Baird raised their price objective on Centene from $46.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Finally, Truist Financial upped their target price on Centene from $71.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $68.21.

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.