Centene Corporation $CNC Shares Sold by Credit Agricole S A

Key Points

• Credit Agricole S A has significantly reduced its holdings in Centene Corporation by 71.2%, now owning 82,773 shares after selling 204,406 shares during the first quarter.
• Insider transactions included purchases by Director Theodore R. Samuels II and CEO Sarah London, with Samuels increasing his ownership by 39.13% and London by 2.33%.
• Centene reported a loss of ($0.16) earnings per share for the last quarter, missing forecasts, but showed revenue growth of 22.4% year-over-year with total revenues of $48.74 billion.

Credit Agricole S A lowered its position in shares of Centene Corporation (NYSE:CNC - Free Report) by 71.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,773 shares of the company's stock after selling 204,406 shares during the period. Credit Agricole S A's holdings in Centene were worth $5,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pinney & Scofield Inc. acquired a new stake in shares of Centene during the 4th quarter worth approximately $25,000. Ameriflex Group Inc. acquired a new stake in Centene in the 4th quarter valued at approximately $26,000. Studio Investment Management LLC acquired a new stake in Centene in the 4th quarter valued at approximately $32,000. Golden State Wealth Management LLC increased its holdings in Centene by 203.1% in the 1st quarter. Golden State Wealth Management LLC now owns 579 shares of the company's stock valued at $35,000 after purchasing an additional 388 shares during the last quarter. Finally, Bruce G. Allen Investments LLC increased its holdings in Centene by 273.8% in the 1st quarter. Bruce G. Allen Investments LLC now owns 927 shares of the company's stock valued at $56,000 after purchasing an additional 679 shares during the last quarter. Institutional investors and hedge funds own 93.63% of the company's stock.

Insider Buying and Selling at Centene

In related news, Director Theodore R. Samuels II purchased 9,000 shares of the business's stock in a transaction that occurred on 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 purchase, the director directly owned 32,000 shares of the company's stock, valued at $883,840. The trade was a 39.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sarah London purchased 19,230 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average price of $25.50 per share, for a total transaction of $490,365.00. Following the completion of the purchase, the chief executive officer directly owned 845,275 shares in the company, valued at $21,554,512.50. This represents a 2.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.36% of the stock is currently owned by insiders.

Centene Price Performance

Centene stock opened at $29.3270 on Friday. The stock has a market cap of $14.40 billion, a P/E ratio of 7.26, a price-to-earnings-growth ratio of 1.17 and a beta of 0.40. The company has a fifty day simple moving average of $34.85 and a 200-day simple moving average of $50.81. Centene Corporation has a 12-month low of $25.08 and a 12-month high of $80.59. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64.

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). The firm had revenue of $48.74 billion for the quarter, compared to analysts' expectations of $44.71 billion. Centene had a return on equity of 9.57% and a net margin of 1.15%.Centene's revenue for the quarter was up 22.4% on a year-over-year basis. During the same period last year, the firm posted $2.42 earnings per share. Centene has set its FY 2025 guidance at 1.750-1.750 EPS. Equities analysts expect that Centene Corporation will post 6.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. UBS Group dropped their target price on shares of Centene from $45.00 to $31.00 and set a "neutral" rating for the company in a report on Monday, July 28th. Barclays dropped their target price on shares of Centene from $65.00 to $45.00 and set an "equal weight" rating for the company in a report on Wednesday, July 2nd. Morgan Stanley dropped their target price on shares of Centene from $33.00 to $28.00 and set an "equal weight" rating for the company in a report on Monday, August 4th. Guggenheim reissued a "neutral" rating on shares of Centene in a research report on Tuesday, April 29th. Finally, Wall Street Zen cut shares of Centene from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Three equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Centene presently has a consensus rating of "Hold" and an average target price of $42.20.

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.

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