23,100 Shares in Centene Corporation $CNC Purchased by Polianta Ltd

Key Points

• Polianta Ltd acquired 23,100 shares of Centene Corporation, valued at approximately $1,253,000, in the second quarter.
• Several institutional investors, including Invesco Ltd and AQR Capital Management LLC, have recently increased their positions in Centene, indicating strong institutional interest.
• Analysts have cut Centene's target prices significantly, with current consensus ratings leaning towards a "Hold," and a consensus price target of $38.33.

Polianta Ltd acquired a new position in shares of Centene Corporation (NYSE:CNC - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 23,100 shares of the company's stock, valued at approximately $1,253,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Focus Partners Wealth increased its holdings in shares of Centene by 83.1% in the 1st quarter. Focus Partners Wealth now owns 42,270 shares of the company's stock valued at $2,566,000 after purchasing an additional 19,181 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Centene by 3.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,810,489 shares of the company's stock valued at $292,045,000 after purchasing an additional 143,573 shares during the period. Sapient Capital LLC acquired a new position in shares of Centene in the 2nd quarter valued at about $493,000. AG2R LA Mondiale Gestion D Actifs acquired a new position in shares of Centene in the 1st quarter valued at about $1,288,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Centene by 30.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 163,181 shares of the company's stock valued at $9,906,000 after purchasing an additional 37,808 shares during the period. Institutional investors and hedge funds own 93.63% of the company's stock.

Centene Price Performance

Centene stock traded up $0.66 during mid-day trading on Monday, hitting $32.43. 3,467,469 shares of the company were exchanged, compared to its average volume of 9,280,592. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64. The business has a fifty day moving average of $28.70 and a 200 day moving average of $46.83. Centene Corporation has a 1-year low of $25.08 and a 1-year high of $76.08. The company has a market capitalization of $15.92 billion, a PE ratio of 8.02, a price-to-earnings-growth ratio of 1.29 and a beta of 0.44.

Centene (NYSE:CNC - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.39). Centene had a return on equity of 9.57% and a net margin of 1.15%.The company had revenue of $48.74 billion for the quarter, compared to analyst estimates of $44.71 billion. During the same quarter in the prior year, the company earned $2.42 earnings per share. The business's revenue was up 22.4% compared to the same quarter last year. Centene has set its FY 2025 guidance at 1.750-1.750 EPS. As a group, sell-side analysts expect that Centene Corporation will post 6.86 earnings per share for the current year.

Wall Street Analyst Weigh In

CNC has been the subject of several recent research reports. Barclays boosted their price target on Centene from $33.00 to $35.00 and gave the company an "equal weight" rating in a research note on Friday, September 12th. Oppenheimer lowered their price target on Centene from $51.00 to $43.00 and set an "outperform" rating for the company in a research note on Monday, July 28th. 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 cut Centene from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $72.00 to $30.00 in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. lowered their price target on Centene from $48.00 to $30.00 and set a "neutral" rating for the company in a research note on Tuesday, July 29th. Three equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $38.33.

Insiders Place Their Bets

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

About Centene

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.