Centene Corporation $CNC Stake Lifted by Russell Investments Group Ltd.

Key Points

• Russell Investments raised its Centene stake by 83.7% in Q3 to 1,001,316 shares (about 0.20% of the company), valued at roughly $35.6 million after adding 456,350 shares.
• Centene faces near‑term pressure after management warned of a steep ACA individual‑market enrollment drop (roughly from ~5.5M to ~3.5M), prompting a selloff, elevated put‑option activity and analyst caution.
• The analyst consensus remains a "Hold" with a $42.06 average price target; brokerage actions are mixed (3 Buy, 14 Hold, 3 Sell) despite several recent target increases by major firms.

Russell Investments Group Ltd. increased its position in Centene Corporation (NYSE:CNC - Free Report) by 83.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,001,316 shares of the company's stock after acquiring an additional 456,350 shares during the period. Russell Investments Group Ltd. owned approximately 0.20% of Centene worth $35,628,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd lifted its stake in shares of Centene by 66.0% in the 3rd quarter. UniSuper Management Pty Ltd now owns 85,232 shares of the company's stock worth $3,041,000 after acquiring an additional 33,875 shares during the period. Packer & Co Ltd acquired a new position in shares of Centene in the 3rd quarter worth $50,487,000. ARGA Investment Management LP acquired a new stake in Centene during the 3rd quarter worth about $21,485,000. First Citizens Bank & Trust Co. boosted its holdings in shares of Centene by 122.5% in the third quarter. First Citizens Bank & Trust Co. now owns 223,157 shares of the company's stock worth $7,962,000 after buying an additional 122,870 shares during the period. Finally, Amundi increased its position in shares of Centene by 6.2% in the second quarter. Amundi now owns 3,384,752 shares of the company's stock worth $183,724,000 after acquiring an additional 199,016 shares in the last quarter. Institutional investors own 93.63% of the company's stock.

Analyst Upgrades and Downgrades

CNC has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price target on shares of Centene from $38.00 to $45.00 and gave the company a "neutral" rating in a research report on Thursday, January 22nd. Robert W. Baird raised their target price on Centene from $28.00 to $36.00 and gave the stock a "neutral" rating in a research report on Thursday, December 11th. TD Cowen lifted their price target on Centene from $34.00 to $38.00 and gave the company a "hold" rating in a report on Wednesday, February 11th. Deutsche Bank Aktiengesellschaft raised their price objective on Centene from $32.00 to $39.00 and gave the stock a "hold" rating in a research report on Tuesday, February 10th. Finally, Truist Financial upped their target price on Centene from $47.00 to $49.00 and gave the company a "buy" rating in a report on Wednesday, February 25th. Three analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $42.06.

Centene News Summary

Here are the key news stories impacting Centene this week:

• Positive Sentiment: Superior HealthPlan (a Centene unit) named a Rio Grande Valley provider a Foster Care Center of Excellence — a local operating win that supports managed‑care positioning in Texas. Superior HealthPlan Names Cute Pediatrics as First Rio Grande Valley Provider to Earn Foster Care Distinction
• Positive Sentiment: Company update: Centene reaffirmed its 2026 outlook and redeemed certain debt notes — signaling liquidity/commitment to guidance despite near‑term headwinds. Centene Reaffirms 2026 Outlook and Redeems Debt Notes
• Neutral Sentiment: Management presentation/transcript from Barclays conference is available — useful for detail on guidance and membership trends but did not offset market concern. Centene Corporation (CNC) Presents at Barclays 28th Annual Global Healthcare Conference Transcript
• Neutral Sentiment: Industry context: analysts note HMO names face cost pressure, nursing shortages and policy risk — structural headwinds that increase sensitivity to ACA enrollment swings. 4 HMO Stocks to Watch Despite Escalating Costs, Nursing Shortage
• Negative Sentiment: CEO warning of a steep ACA membership decline: management said individual-market enrollment may fall to ~3.5M from ~5.5M — a dramatic reduction that directly cuts revenue and hurts margins, and was cited as the primary catalyst for the selloff. Centene (CNC) Stock Plunges 14% as CEO Warns of Massive ACA Enrollment Decline
• Negative Sentiment: News and market reactions: multiple outlets report shares falling after executives flagged steeper ACA membership losses; Mizuho and other analysts lowered targets/expressed caution. Centene shares fall as health insurer sees steeper drop in Obamacare memberships
• Negative Sentiment: Broader coverage: stories framing the “slow death” of enhanced ACA subsidies and plunging enrollment directly link the policy shift to Centene’s weakness. Obamacare’s Slow Death Is Debilitating Centene Stock
• Negative Sentiment: Market signals: unusually high put‑option volume and elevated trading volume show short/bear positioning and higher conviction among downside traders, amplifying price moves.

Centene Stock Performance

Shares of CNC stock opened at $35.91 on Thursday. The firm has a market cap of $17.66 billion, a P/E ratio of -2.64, a PEG ratio of 0.81 and a beta of 0.48. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.10 and a quick ratio of 1.10. Centene Corporation has a fifty-two week low of $25.08 and a fifty-two week high of $66.03. The stock's 50-day moving average is $43.09 and its two-hundred day moving average is $38.32.

Centene (NYSE:CNC - Get Free Report) last posted its earnings results on Friday, February 6th. The company reported ($1.19) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.22) by $0.03. Centene had a negative net margin of 3.43% and a positive return on equity of 4.25%. The firm had revenue of $49.73 billion during the quarter, compared to analysts' expectations of $48.41 billion. During the same period in the previous year, the company earned $0.80 earnings per share. The company's revenue was up 21.9% compared to the same quarter last year. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. Analysts predict that Centene Corporation will post 6.86 earnings per share for the current fiscal year.

About Centene

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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