Alberta Investment Management Corp Invests $38.51 Million in Centene Corporation $CNC

Key Points

• Alberta Investment Management Corp acquired 600,000 Centene shares worth approximately $38.5 million, establishing a stake of about 0.12%. Institutional investors collectively own 93.63% of Centene.
• Centene reported quarterly earnings of $2.51 per share, well above the $1.09 consensus estimate, while revenue rose 9.9% year over year to $53.58 billion.
• Analyst sentiment is mixed: Centene has an overall “Hold” rating and a consensus price target of $69.15, compared with its reported share price of $67.53.

Alberta Investment Management Corp purchased a new position in Centene Corporation (NYSE:CNC - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 600,000 shares of the company's stock, valued at approximately $38,514,000. Alberta Investment Management Corp owned approximately 0.12% of Centene as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the company. Fielder Capital Group LLC bought a new stake in shares of Centene in the 2nd quarter valued at approximately $491,000. Bank of New York Mellon Corp bought a new stake in Centene during the second quarter valued at $159,011,000. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Centene during the second quarter worth $4,514,000. State of Wyoming bought a new position in shares of Centene in the 2nd quarter worth about $751,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Centene in the 2nd quarter valued at about $2,134,000. Institutional investors own 93.63% of the company's stock.

Centene Stock Up 0.1%

CNC stock opened at $67.53 on Monday. The firm's 50-day moving average is $65.00 and its two-hundred day moving average is $51.69. The company has a market capitalization of $33.36 billion, a price-to-earnings ratio of -6.47, a price-to-earnings-growth ratio of 0.36 and a beta of 1.08. Centene Corporation has a 52 week low of $27.76 and a 52 week high of $69.36. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.71.

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

Analyst Ratings Changes

Several research firms recently weighed in on CNC. Stifel Nicolaus set a $79.00 price objective on shares of Centene in a research note on Monday, August 3rd. Wall Street Zen upgraded Centene from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 18th. Deutsche Bank Aktiengesellschaft upgraded Centene from a "hold" rating to a "buy" rating and increased their price target for the stock from $53.00 to $80.00 in a research report on Wednesday, May 20th. The Goldman Sachs Group restated a "sell" rating and set a $40.00 price objective on shares of Centene in a research report on Wednesday, April 29th. Finally, Raymond James Financial set a $75.00 target price on Centene in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $69.15.

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.

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