Centene Corporation $CNC Stock Acquired by North Dakota State Investment Board

Key Points

• North Dakota State Investment Board nearly doubled its Centene position in the third quarter, increasing holdings by 92.1% to 44,218 shares valued at approximately $2.75 million. Institutional investors collectively own 93.63% of the company.
• Centene’s third-quarter results exceeded expectations, with EPS of $0.58 versus the $0.10 consensus and revenue of $50.65 billion. The company raised its 2026 adjusted earnings outlook to more than $5.20 per share as its Medicare business is expected to reach breakeven ahead of schedule.
• Analyst sentiment remains mixed but has improved, with several firms raising price targets; the consensus rating is “Hold” and the average target is $73.30. Risks include declining Medicaid enrollment, margin uncertainty and concerns that recent earnings gains may already be reflected in the stock price.

North Dakota State Investment Board boosted its holdings in Centene Corporation (NYSE:CNC - Free Report) by 92.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,218 shares of the company's stock after purchasing an additional 21,203 shares during the period. North Dakota State Investment Board's holdings in Centene were worth $2,747,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CNC. VestGen Advisors LLC raised its position in Centene by 12.8% in the third quarter. VestGen Advisors LLC now owns 19,672 shares of the company's stock worth $1,222,000 after acquiring an additional 2,233 shares during the period. Generali Asset Management SPA SGR boosted its stake in Centene by 116.9% in the third quarter. Generali Asset Management SPA SGR now owns 11,632 shares of the company's stock valued at $723,000 after acquiring an additional 6,270 shares during the last quarter. SYM FINANCIAL Corp grew its position in shares of Centene by 6.9% during the 3rd quarter. SYM FINANCIAL Corp now owns 15,517 shares of the company's stock valued at $964,000 after acquiring an additional 1,008 shares during the period. Oppenheimer & Co. Inc. bought a new position in shares of Centene during the 3rd quarter valued at approximately $619,000. Finally, Park Avenue Securities LLC increased its stake in shares of Centene by 18.4% during the 3rd quarter. Park Avenue Securities LLC now owns 17,761 shares of the company's stock worth $1,103,000 after purchasing an additional 2,754 shares during the last quarter. Institutional investors own 93.63% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on CNC. Wall Street Zen upgraded Centene from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 18th. HC Wainwright reissued a "buy" rating on shares of Centene in a research report on Friday, September 11th. Cantor Fitzgerald boosted their target price on Centene from $75.00 to $79.00 and gave the company an "overweight" rating in a research note on Wednesday. Mizuho set a $72.00 price target on Centene in a research report on Wednesday. Finally, Sanford C. Bernstein reiterated an "outperform" rating and set a $79.00 price target (up from $68.00) on shares of Centene in a research note on Monday, August 3rd. Nine research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $73.30.

Insider Transactions 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 shares were sold at an average price of $66.90, for a total value of $3,779,850.00. Following the sale, the general counsel directly owned 248,854 shares in the company, valued at $16,648,332.60. This represents a 18.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.37% of the stock is owned by corporate insiders.

Key Stories Impacting Centene

Here are the key news stories impacting Centene this week:

• Positive Sentiment: Centene raised its 2026 adjusted earnings outlook to more than $5.20 per share after third-quarter results exceeded expectations. The Medicare business is expected to reach breakeven ahead of schedule, supporting confidence in the company’s turnaround. Centene forecasts 2026 adjusted EPS greater than $5.20 as Medicare turnaround reaches breakeven a year early
• Positive Sentiment: Centene reported third-quarter earnings of $0.58 per share, well above the $0.10 analyst consensus, while revenue of $50.65 billion also surpassed estimates. The earnings beat and raised sales and earnings guidance have prompted investors to reassess the stock’s value. Centene earnings beat raises the question of whether the stock is fully valued
• Positive Sentiment: Several analysts increased their price targets following the results. JPMorgan raised its target to $75 from $67, UBS to $78 from $70, Barclays to $82 from $80 with an overweight rating, Cantor Fitzgerald to $79 from $75 with an overweight rating, and Baird to $71 from $66. The upgrades signal improving expectations, although JPMorgan, UBS and Baird retain neutral ratings. Centene analysts boost their forecasts following upbeat Q3 earnings
• Neutral Sentiment: Analysts and valuation commentary describe Centene as a potential long-term value or momentum stock, but also question whether the recent earnings improvement is already reflected in the share price. Why Centene is a top value stock for the long term
• Negative Sentiment: Medicaid enrollment declines, health-benefits-ratio uncertainty and ongoing margin risks could limit the benefit of the Medicare recovery. Heavy put-option buying also indicates that some traders are positioning for downside or increased volatility. Centene Q3 earnings call highlights faster recovery and Medicaid risks

Centene Price Performance

Centene stock opened at $68.27 on Friday. Centene Corporation has a one year low of $31.63 and a one year high of $72.50. The business has a fifty day moving average price of $66.01 and a 200-day moving average price of $55.15. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.16 and a quick ratio of 1.15. The firm has a market capitalization of $33.80 billion, a P/E ratio of 12.72, a PEG ratio of 0.39 and a beta of 1.13.

Centene (NYSE:CNC - Get Free Report) last released its quarterly earnings data on Tuesday, October 27th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.48. The company had revenue of $50.65 billion for the quarter, compared to analyst estimates of $47.12 billion. Centene had a return on equity of 12.15% and a net margin of 0.72%. The firm's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.50 EPS. As a group, equities research analysts forecast that Centene Corporation will post 5.22 EPS for the current year.

Centene Profile

Centene Corporation is a diversified healthcare enterprise that provides government-sponsored and commercial health insurance programs and related healthcare services. The company's offerings are primarily focused on Medicaid, Medicare, and health insurance marketplace plans, with an emphasis on serving individuals and families who may have limited access to traditional healthcare coverage.

Centene operates Medicaid health plans through state-based contracts and offers Medicare Advantage, Medicare prescription drug, and Medicare Supplement products through its Wellcare brand.

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