California State Teachers Retirement System Has $46.15 Million Position in Centene Corporation $CNC

California State Teachers Retirement System reduced its position in shares of Centene Corporation (NYSE:CNC - Free Report) by 5.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 718,947 shares of the company's stock after selling 45,407 shares during the period. California State Teachers Retirement System owned about 0.15% of Centene worth $46,149,208 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. boosted its stake in shares of Centene by 118.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 749 shares of the company's stock valued at $31,000 after purchasing an additional 406 shares in the last quarter. MidFirst Bank purchased a new stake in shares of Centene in the second quarter worth about $32,000. Bayban purchased a new position in shares of Centene in the fourth quarter worth about $33,000. MV Capital Management Inc. purchased a new position in Centene during the 4th quarter valued at about $34,000. Finally, Fiduciary Financial Advisors acquired a new position in Centene during the second quarter worth approximately $34,000. 93.63% of the stock is owned by hedge funds and other institutional investors.

Centene Stock Performance

CNC traded down $1.70 on Tuesday, reaching $67.71. The company had a trading volume of 1,264,344 shares, compared to its average volume of 5,743,792. The stock has a 50-day moving average price of $65.52 and a 200-day moving average price of $55.27. The stock has a market capitalization of $33.45 billion, a PE ratio of -6.49, a P/E/G ratio of 0.42 and a beta of 1.10. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.71. Centene Corporation has a 1 year low of $31.63 and a 1 year high of $69.63.

Centene (NYSE:CNC - Get Free Report) last issued its earnings results on Monday, July 27th. The company reported $2.51 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $53.58 billion during the quarter, compared to the consensus estimate of $47.64 billion. During the same quarter in the prior year, the business earned ($0.16) earnings per share. The company's revenue was up 9.9% compared to the same quarter last year. As a group, research analysts forecast that Centene Corporation will post 4.89 EPS for the current fiscal year.

Insider Activity at Centene

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CNC. Mizuho set a $63.00 price target on shares of Centene and gave the stock a "neutral" rating in a research report on Monday, June 8th. Deutsche Bank Aktiengesellschaft raised shares of Centene from a "hold" rating to a "buy" rating and increased their price objective for the stock from $53.00 to $80.00 in a research report on Wednesday, May 20th. Truist Financial upped their target price on Centene from $71.00 to $78.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Stifel Nicolaus set a $79.00 price target on Centene in a research note on Monday, August 3rd. Finally, Morgan Stanley set a $66.00 price objective on shares of Centene in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $70.05.

Key Centene News

Here are the key news stories impacting Centene this week:

• Positive Sentiment: Momentum and analyst support: Centene is identified as one of several stocks trading near 52-week highs with potential for further gains, suggesting investors are responding favorably to its recent price strength. 4 Stocks Trading Near 52-Week High With More Upside Potential
• Positive Sentiment: Attractive valuation: CNC was included among low price-to-book stocks offering a combination of value and growth potential, which may attract investors seeking relatively inexpensive healthcare exposure. 5 Low P/B Stocks That Offer Attractive Value and Growth
• Positive Sentiment: Guidance and estimates: Zacks cited Centene’s strong 2026 guidance, favorable earnings-estimate revisions and valuation as reasons to keep watching the stock. The company was also listed as a Zacks Rank #1, or “Strong Buy,” growth stock. 2 Non-AI Giants to Buy on Solid Guidance and Lucrative Valuation Best Growth Stocks to Buy for September 14th
• Positive Sentiment: Defensive positioning: Analysts continue to present Centene as a defensive healthcare investment as inflation, oil prices, weak consumer sentiment and possible interest-rate increases heighten market volatility. 4 Defensive Stocks to Take Refuge in as Consumer Sentiment Plummets
• Neutral Sentiment: Near-term risk: Coverage notes that CNC has reached a 52-week high, so further upside depends on continued execution and supportive fundamentals; elevated levels may also increase profit-taking risk. Centene Corporation Hit a 52-Week High, Can the Run Continue?

About Centene

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.