Centene Corporation $CNC Stock Position Trimmed by M&T Bank Corp

Key Points

• M&T Bank cut its Centene stake by 66.1% in Q4, selling 46,839 shares and retaining 23,991 shares worth about $987,000, while institutional investors own roughly 93.6% of the stock.
• Centene posted a strong Q1 beat and raised guidance, reporting $3.37 EPS (vs. $2.23 est.) and $49.94B revenue, prompting several analyst upgrades and higher price targets even as the consensus rating remains a "Hold" with an average target of $51.41.
• Legislative risk from H.R. 8375 — proposed Medicare Advantage reforms could increase compliance and operational costs for MAOs like Centene, potentially pressuring margins if enacted.

M&T Bank Corp cut its position in Centene Corporation (NYSE:CNC - Free Report) by 66.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,991 shares of the company's stock after selling 46,839 shares during the quarter. M&T Bank Corp's holdings in Centene were worth $987,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Addison Advisors LLC grew its stake in shares of Centene by 455.6% in the third quarter. Addison Advisors LLC now owns 739 shares of the company's stock worth $26,000 after purchasing an additional 606 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Centene in the third quarter worth $27,000. GoalVest Advisory LLC bought a new position in shares of Centene in the fourth quarter worth $37,000. Union Bancaire Privee UBP SA bought a new position in shares of Centene in the fourth quarter worth $37,000. Finally, WPG Advisers LLC grew its stake in shares of Centene by 44.5% in the third quarter. WPG Advisers LLC now owns 915 shares of the company's stock worth $33,000 after purchasing an additional 282 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors.

Key Centene News

Here are the key news stories impacting Centene this week:

• Positive Sentiment: Q1 earnings beat and upgraded outlook — Centene reported stronger-than-expected Q1 results and raised guidance, improving margin visibility and prompting optimism about 2026–2027 recovery prospects. Article Title
• Positive Sentiment: Truist reiterates/raises stance to Buy — Truist moved to a Buy rating with a higher $58 target after the earnings beat, signaling conviction among some buy‑side analysts. Article Title
• Positive Sentiment: Multiple upgrades/favorable analyst commentary — Bank of America upgraded CNC to Buy with a $60 target; Cantor Fitzgerald and other boutiques also raised ratings/targets after Q1. These calls support upside sentiment. Article Title
• Neutral Sentiment: UBS raised its price target to $55 but kept a Neutral rating — higher PTs broadly reflect improved forecasts, though many firms still rate CNC neutral/hold. Article Title
• Neutral Sentiment: Jefferies, Morgan Stanley, Mizuho, Deutsche Bank raised targets but maintained Hold/Equal Weight/Neutral ratings — these moves tighten analyst valuation ranges but leave consensus mixed on near‑term upside. Article Title Article Title Article Title Article Title
• Neutral Sentiment: Market commentary sees a potential momentum reversal into 2027 — bullish longer‑term narrative but recommends watching execution and margin trends. Article Title
• Negative Sentiment: Proposed Medicare Advantage reform (H.R. 8375) introduces transparency, real‑time auth and stricter oversight — if enacted, these changes could raise compliance/operational costs for MAOs like Centene and pressure margins over time. Legislative timing and details remain uncertain. Article Title

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CNC. Oppenheimer reissued an "outperform" rating and issued a $58.00 price target (up from $45.00) on shares of Centene in a research note on Wednesday. The Goldman Sachs Group reissued a "sell" rating and issued a $40.00 price target on shares of Centene in a research note on Wednesday. Cantor Fitzgerald raised Centene from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $41.00 to $60.00 in a research note on Tuesday. Barclays reissued an "overweight" rating and issued a $63.00 price target (up from $54.00) on shares of Centene in a research note on Wednesday. Finally, Raymond James Financial set a $60.00 target price on Centene in a research note on Wednesday. Six equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have 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 an average price target of $51.41.

Centene Trading Down 0.3%

Shares of NYSE CNC opened at $53.80 on Friday. Centene Corporation has a 12 month low of $25.08 and a 12 month high of $64.15. The company has a market cap of $26.46 billion, a price-to-earnings ratio of -4.09, a P/E/G ratio of 1.06 and a beta of 0.59. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.76. The business has a fifty day simple moving average of $38.91 and a 200-day simple moving average of $39.45.

Centene (NYSE:CNC - Get Free Report) last announced its earnings results on Tuesday, April 28th. The company reported $3.37 EPS for the quarter, beating the consensus estimate of $2.23 by $1.14. Centene had a positive return on equity of 5.57% and a negative net margin of 3.25%.The business had revenue of $49.94 billion during the quarter, compared to the consensus estimate of $47.53 billion. During the same period in the prior year, the business posted $2.90 earnings per share. Centene's revenue was up 7.1% compared to the same quarter last year. Sell-side analysts predict that Centene Corporation will post 3.4 EPS for the current year.

Centene Profile

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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