Centene Corporation $CNC Shares Sold by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. reduced its Centene stake by 21% in the third quarter, selling 49,510 shares and retaining 186,142 shares valued at approximately $11.6 million.
• Other major institutions made significant investments, including BlackRock’s newly reported $2.66 billion stake and Wellington Management’s 423% increase; institutional investors collectively own 93.63% of Centene.
• Centene shares opened at $68.89, near their 52-week high, after the company exceeded quarterly earnings and revenue expectations. Analysts’ average rating remains “Hold,” with a consensus price target of $70.05.

First Citizens Bank & Trust Co. decreased its position in shares of Centene Corporation (NYSE:CNC - Free Report) by 21.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 186,142 shares of the company's stock after selling 49,510 shares during the period. First Citizens Bank & Trust Co.'s holdings in Centene were worth $11,563,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CNC. BlackRock Inc. purchased a new stake in shares of Centene in the second quarter valued at about $2,660,422,000. Wellington Management Group LLP raised its stake in Centene by 423.0% during the 2nd quarter. Wellington Management Group LLP now owns 13,301,215 shares of the company's stock valued at $853,805,000 after acquiring an additional 10,757,914 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Centene by 12.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,517,580 shares of the company's stock worth $354,173,000 after acquiring an additional 608,249 shares during the period. Bank of America Corp DE acquired a new stake in Centene during the 2nd quarter worth approximately $285,713,000. Finally, Deutsche Bank AG acquired a new stake in Centene during the 2nd quarter worth approximately $257,279,000. Hedge funds and other institutional investors own 93.63% of the company's stock.

More Centene News

Here are the key news stories impacting Centene this week:

• Positive Sentiment: Centene will launch a nationwide performance-based Gold Card Program in November 2026. The program will initially cover more than 160,000 qualifying providers and streamline prior-authorization reviews for certain outpatient services while maintaining clinical and quality standards. Investors may view the initiative as a way to reduce administrative friction, improve provider relationships and support operating efficiency. Centene to Launch Nationwide Gold Card Program for Qualifying Providers
• Positive Sentiment: Additional bullish discussion highlighted Centene’s redemption of its remaining 2027 notes, expansion of primary-care capabilities and the Gold Card rollout. These developments reinforce a recovery narrative centered on lower debt, simpler administration and improving margins ahead of the company’s late-October earnings report. Centene Is Up After Gold Card, Debt Redemption and Primary Care Expansion News
• Positive Sentiment: PA Health & Wellness, a Centene subsidiary, was recognized by the National Committee for Quality Assurance as one of the top 17 Medicaid health plans in the United States for the second consecutive year. The recognition supports Centene’s quality credentials in its core Medicaid business, although the direct financial impact is limited. PA Health & Wellness Earns National Recognition Among Top Medicaid Health Plans
• Neutral Sentiment: CEO Sarah London said artificial intelligence should improve access for Medicaid patients, including those in medical-care deserts, rather than merely reduce billing costs. The comments support Centene’s longer-term innovation strategy, but no specific financial targets or implementation details were announced. Centene CEO Sarah London Discusses Medicaid and AI
• Neutral Sentiment: Analyst commentary from Zacks favored Centene over Molina Healthcare, citing CNC’s diversified business, improving margins, lower valuation and stronger expected earnings prospects. However, the cited median analyst price target of $62 is below the stock’s recent trading level, potentially limiting near-term upside.
• Negative Sentiment: Reported insider activity over the past six months consisted of sales rather than purchases, including sales by executives Christopher Koster and Kenneth Burdick. Insider selling does not necessarily signal deteriorating fundamentals, but it is a modest sentiment headwind.

Centene Stock Up 2.8%

Shares of NYSE CNC opened at $68.89 on Wednesday. The stock has a market capitalization of $34.03 billion, a PE ratio of -6.60, a P/E/G ratio of 0.42 and a beta of 1.13. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.71. The firm has a fifty day moving average of $65.15 and a 200-day moving average of $59.07. Centene Corporation has a 52-week low of $31.63 and a 52-week high of $69.70.

Centene (NYSE:CNC - Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The company reported $2.51 EPS for the quarter, topping the consensus estimate of $1.09 by $1.42. The company had revenue of $53.58 billion during the quarter, compared to analyst estimates of $47.64 billion. Centene had a positive return on equity of 12.12% and a negative net margin of 2.51%. The firm's revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.16) earnings per share. On average, analysts anticipate that Centene Corporation will post 4.89 EPS for the current year.

Insider Buying and Selling at Centene

In other Centene news, General Counsel Christopher Koster sold 56,500 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $66.90, for a total transaction of $3,779,850.00. Following the transaction, the general counsel owned 248,854 shares of the company's stock, valued at $16,648,332.60. This trade represents a 18.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.37% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CNC shares. Argus upgraded shares of Centene from a "hold" rating to a "buy" rating and set a $80.00 price objective on the stock in a research report on Tuesday, August 11th. Raymond James Financial set a $75.00 target price on shares of Centene in a report on Tuesday, July 7th. UBS Group set a $79.00 price target on Centene in a research report on Tuesday, August 18th. Sanford C. Bernstein reissued an "outperform" rating and issued a $79.00 price target (up from $68.00) on shares of Centene in a report on Monday, August 3rd. Finally, Wall Street Zen upgraded Centene from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 18th. Nine equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $70.05.

Centene Profile

Centene Corporation NYSE: CNC is a healthcare enterprise that provides health insurance and related services, primarily through government-sponsored programs. Its offerings include Medicaid plans, Medicare products, health plans sold through the Affordable Care Act marketplace, and services for military families through government-sponsored healthcare programs.

The company also provides pharmacy, behavioral health, specialty healthcare, care management and administrative services through various subsidiaries and partner organizations.

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