Quantbot Technologies LP Has $2.11 Million Stake in Centene Corporation $CNC

Quantbot Technologies LP cut its stake in Centene Corporation (NYSE:CNC) by 84.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,994 shares of the company’s stock after selling 310,832 shares during the quarter. Quantbot Technologies LP’s holdings in Centene were worth $2,105,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of CNC. Vanguard Group Inc. raised its position in Centene by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 58,396,605 shares of the company’s stock valued at $3,169,768,000 after buying an additional 869,706 shares during the last quarter. Norges Bank purchased a new stake in shares of Centene in the second quarter valued at about $1,435,997,000. State Street Corp lifted its position in shares of Centene by 2.3% during the second quarter. State Street Corp now owns 23,186,927 shares of the company’s stock valued at $1,258,586,000 after purchasing an additional 514,600 shares in the last quarter. Geode Capital Management LLC grew its position in Centene by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 13,208,639 shares of the company’s stock worth $718,547,000 after purchasing an additional 279,637 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Centene by 5.7% in the 2nd quarter. Invesco Ltd. now owns 11,725,910 shares of the company’s stock valued at $636,482,000 after buying an additional 633,946 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. TD Cowen boosted their target price on Centene from $34.00 to $38.00 and gave the stock a “hold” rating in a research note on Wednesday, February 11th. Truist Financial boosted their price objective on Centene from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Wall Street Zen lowered Centene from a “buy” rating to a “hold” rating in a research report on Sunday, February 15th. Weiss Ratings reissued a “sell (d)” rating on shares of Centene in a report on Wednesday, January 21st. Finally, Mizuho set a $47.00 price objective on shares of Centene in a report on Friday, January 9th. Three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Centene presently has an average rating of “Hold” and a consensus price target of $42.44.

Centene Price Performance

NYSE CNC opened at $45.06 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.87. The company has a market cap of $22.16 billion, a PE ratio of -3.31, a price-to-earnings-growth ratio of 0.97 and a beta of 0.48. Centene Corporation has a 52 week low of $25.08 and a 52 week high of $66.03. The firm’s 50-day simple moving average is $43.11 and its two-hundred day simple moving average is $37.92.

Centene (NYSE:CNC) last announced its quarterly earnings results on Friday, February 6th. The company reported ($1.19) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $49.73 billion for the quarter, compared to analysts’ expectations of $48.41 billion. During the same period in the prior year, the company posted $0.80 EPS. Centene’s 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. Research analysts predict that Centene Corporation will post 6.86 earnings per share for the current year.

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.