9,083 Shares in Centene Corporation $CNC Acquired by Sapient Capital LLC

Sapient Capital LLC purchased a new position in shares of Centene Corporation (NYSE:CNC - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,083 shares of the company's stock, valued at approximately $493,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. MassMutual Private Wealth & Trust FSB raised its holdings in Centene by 8.8% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 2,092 shares of the company's stock worth $127,000 after purchasing an additional 169 shares in the last quarter. Quadcap Wealth Management LLC raised its stake in shares of Centene by 3.2% during the 1st quarter. Quadcap Wealth Management LLC now owns 5,617 shares of the company's stock worth $341,000 after acquiring an additional 172 shares in the last quarter. Poinciana Advisors Group LLC increased its position in shares of Centene by 2.8% during the first quarter. Poinciana Advisors Group LLC now owns 7,221 shares of the company's stock worth $438,000 after purchasing an additional 195 shares in the last quarter. Carnegie Investment Counsel increased its position in shares of Centene by 6.0% during the first quarter. Carnegie Investment Counsel now owns 3,811 shares of the company's stock worth $234,000 after purchasing an additional 215 shares in the last quarter. Finally, Allworth Financial LP increased its position in shares of Centene by 6.1% during the first quarter. Allworth Financial LP now owns 4,387 shares of the company's stock worth $270,000 after purchasing an additional 254 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors.

Insider Activity at Centene

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

Centene Trading Up 0.6%

CNC opened at $31.99 on Thursday. Centene Corporation has a one year low of $25.08 and a one year high of $77.17. The business's 50 day moving average price is $28.70 and its 200 day moving average price is $47.36. The stock has a market capitalization of $15.71 billion, a PE ratio of 7.92, a P/E/G ratio of 1.29 and a beta of 0.44. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.10 and a current ratio of 1.10.

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CNC shares. Barclays upped their target price on Centene from $33.00 to $35.00 and gave the company an "equal weight" rating in a research report on Friday, September 12th. Truist Financial increased their price target on Centene from $35.00 to $39.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. UBS Group dropped their target price on Centene from $45.00 to $31.00 and set a "neutral" rating on the stock in a report on Monday, July 28th. Wells Fargo & Company lowered Centene from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $72.00 to $30.00 in a report on Wednesday, July 23rd. Finally, Mizuho dropped their price objective on shares of Centene from $71.00 to $40.00 and set a "neutral" rating on the stock in a research note on Friday, July 11th. Three analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $38.33.

Centene Profile

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.

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