Centene Corporation $CNC Stock Holdings Increased by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its Centene stake by 5,937.7% to 46.15 million shares, worth approximately $2.96 billion and representing 9.34% of the company.
• Centene reported quarterly EPS of $2.51, beating estimates of $1.09, while revenue rose 9.9% year over year to $53.58 billion.
• Analyst sentiment remains mixed but broadly constructive: Centene has a consensus “Hold” rating and an average price target of $70.05, compared with shares trading near $65.40.

California State Teachers Retirement System raised its holdings in shares of Centene Corporation (NYSE:CNC - Free Report) by 5,937.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,149,208 shares of the company's stock after buying an additional 45,384,854 shares during the period. California State Teachers Retirement System owned about 9.34% of Centene worth $2,962,318,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. DV Equities LLC bought a new stake in shares of Centene during the 4th quarter worth $26,000. IFC & Insurance Marketing Inc. acquired a new stake in shares of Centene during the fourth quarter worth $28,000. SBI Securities Co. Ltd. lifted its holdings in shares of Centene by 118.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 749 shares of the company's stock valued at $31,000 after purchasing an additional 406 shares during the last quarter. MidFirst Bank acquired a new position in shares of Centene in the 2nd quarter valued at $32,000. Finally, Bayban acquired a new position in shares of Centene in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 93.63% of the company's stock.

Centene Trading Up 2.1%

NYSE CNC opened at $65.40 on Friday. Centene Corporation has a 1-year low of $31.63 and a 1-year high of $69.36. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $32.30 billion, a PE ratio of -6.26, a price-to-earnings-growth ratio of 0.40 and a beta of 1.10. The firm's fifty day simple moving average is $65.48 and its 200-day simple moving average is $54.91.

Centene (NYSE:CNC - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The company reported $2.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $1.42. Centene had a positive return on equity of 12.12% and a negative net margin of 2.51%.The firm had revenue of $53.58 billion during the quarter, compared to analysts' expectations of $47.64 billion. During the same quarter last year, the firm earned ($0.16) earnings per share. The business's revenue for the quarter was up 9.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Centene Corporation will post 4.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on CNC. Cantor Fitzgerald boosted their price objective on Centene from $60.00 to $75.00 and gave the stock an "overweight" rating in a report on Tuesday, July 7th. Morgan Stanley set a $66.00 target price on shares of Centene in a research report on Wednesday, July 29th. Raymond James Financial set a $75.00 price target on shares of Centene in a report on Tuesday, July 7th. Wells Fargo & Company set a $69.00 price target on shares of Centene and gave the company an "equal weight" rating in a research report on Monday, July 13th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Centene from $60.00 to $67.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $70.05.

Key Centene News

Here are the key news stories impacting Centene this week:

• Positive Sentiment: Centene’s improved 2026 outlook remains a key catalyst. The company raised revenue guidance and increased its adjusted earnings outlook after reporting strength in Marketplace performance, Medicaid trends, premium tax revenue and state-directed payments. Centene rises as investors weigh stronger guidance and a recent rebound setup
• Positive Sentiment: Bernstein reaffirmed its Buy rating, reinforcing the bullish view that Centene’s profitability recovery and operating momentum can continue. Bernstein Reaffirms Their Buy Rating on Centene
• Positive Sentiment: CNC was included in Zacks’ Rank #1 Strong Buy growth-stock list, potentially attracting additional momentum-oriented investors. Best Growth Stocks to Buy for September 10th
• Positive Sentiment: Recent coverage says Centene has outperformed the broader healthcare sector, while institutional activity was mixed but included significant second-quarter additions from Wellington Management, Sixth Street Partners and Victory Capital. Centene Stock: Is CNC Outperforming the Healthcare Sector?
• Neutral Sentiment: Analyst sentiment is generally constructive, but the reported median 12-month price target of $62 is below the current trading level, suggesting that some of the anticipated recovery may already be reflected in the stock.
• Negative Sentiment: Centene insiders have reported three open-market sales and no purchases over the past six months. The company also disclosed that CFO succession will be needed when the current CFO retires at the end of 2026, although no change to operating guidance was announced.

Insider Activity

In other news, General Counsel Christopher Koster sold 56,500 shares of Centene stock in a transaction dated 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 completion of the sale, the general counsel directly owned 248,854 shares in the company, valued at $16,648,332.60. The trade was a 18.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.37% of the stock is currently owned by corporate insiders.

Centene Company Profile

Centene Corporation NYSE: CNC is a managed-care company that provides health insurance and related healthcare services, primarily through government-sponsored programs. Its offerings include Medicaid, Medicare Advantage and Medicare Prescription Drug plans, coverage for individuals and families through the health insurance marketplace, and health services for military families and veterans.

The company markets several healthcare brands, including Ambetter, which provides marketplace plans, and Wellcare, which offers Medicare products.

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