APG Asset Management N.V. Decreases Position in Centene Corporation $CNC

Key Points

• APG Asset Management N.V. reduced its stake in Centene Corporation by 10.8%, holding approximately 0.07% of the company, valued at $20.14 million after selling 43,466 shares.
• CEO Sarah London acquired 19,230 shares of Centene at an average price of $25.50, increasing her stake by 2.33%.
• Centene reported a net margin of 1.15% and a revenue of $48.74 billion for the latest quarter, despite missing earnings per share consensus estimates.

APG Asset Management N.V. cut its stake in Centene Corporation (NYSE:CNC - Free Report) by 10.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 358,305 shares of the company's stock after selling 43,466 shares during the quarter. APG Asset Management N.V. owned approximately 0.07% of Centene worth $20,138,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ameriflex Group Inc. purchased a new position in Centene in the 4th quarter valued at about $26,000. Pinney & Scofield Inc. purchased a new position in Centene in the 4th quarter worth approximately $25,000. Studio Investment Management LLC purchased a new position in Centene in the 4th quarter worth approximately $32,000. Golden State Wealth Management LLC lifted its stake in Centene by 203.1% in the 1st quarter. Golden State Wealth Management LLC now owns 579 shares of the company's stock worth $35,000 after purchasing an additional 388 shares in the last quarter. Finally, Bruce G. Allen Investments LLC lifted its stake in Centene by 273.8% in the 1st quarter. Bruce G. Allen Investments LLC now owns 927 shares of the company's stock worth $56,000 after purchasing an additional 679 shares in the last quarter. 93.63% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Sarah London acquired 19,230 shares of the business's stock in a transaction dated Friday, August 8th. The shares were acquired 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 $21,554,512.50. The trade was a 2.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Theodore R. Samuels II acquired 9,000 shares of the business's stock in a transaction dated Monday, July 28th. The shares were bought at an average cost of $27.62 per share, for a total transaction of $248,580.00. Following the transaction, the director directly owned 32,000 shares of the company's stock, valued at approximately $883,840. This trade represents a 39.13% increase in their position. The disclosure for this purchase can be found here. 0.36% of the stock is currently owned by corporate insiders.

Centene Stock Up 1.8%

Shares of NYSE CNC opened at $29.3270 on Monday. The firm has a market cap of $14.40 billion, a price-to-earnings ratio of 7.26, a PEG ratio of 1.20 and a beta of 0.40. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64. Centene Corporation has a 52-week low of $25.08 and a 52-week high of $80.59. The business's 50 day moving average is $34.85 and its two-hundred day moving average is $50.68.

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

Analysts Set New Price Targets

CNC has been the topic of a number of research reports. Cantor Fitzgerald lowered shares of Centene from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $65.00 to $38.00 in a research note on Monday, July 28th. Truist Financial decreased their target price on shares of Centene from $42.00 to $35.00 and set a "buy" rating on the stock in a research note on Monday, July 28th. Morgan Stanley decreased their target price on shares of Centene from $33.00 to $28.00 and set an "equal weight" rating on the stock in a research note on Monday, August 4th. JPMorgan Chase & Co. cut their price target on shares of Centene from $48.00 to $30.00 and set a "neutral" rating for the company in a report on Tuesday, July 29th. Finally, Wells Fargo & Company lowered shares of Centene from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $72.00 to $30.00 in a research report on Wednesday, July 23rd. Three analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Centene currently has an average rating of "Hold" and a consensus price target of $42.20.

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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