Generali Asset Management SPA SGR Boosts Stock Position in Centene Corporation $CNC

Generali Asset Management SPA SGR increased its stake in shares of Centene Corporation (NYSE:CNC - Free Report) by 354.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,780 shares of the company's stock after purchasing an additional 27,135 shares during the quarter. Generali Asset Management SPA SGR's holdings in Centene were worth $1,888,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its holdings in Centene by 42.7% in the 1st quarter. AQR Capital Management LLC now owns 11,049,494 shares of the company's stock valued at $669,820,000 after buying an additional 3,306,796 shares during the period. Nuveen LLC purchased a new stake in Centene in the 1st quarter valued at about $146,557,000. Boston Partners grew its holdings in Centene by 155.3% in the 1st quarter. Boston Partners now owns 3,901,603 shares of the company's stock valued at $236,802,000 after buying an additional 2,373,280 shares during the period. 8 Knots Management LLC grew its holdings in Centene by 52.5% in the 1st quarter. 8 Knots Management LLC now owns 3,050,904 shares of the company's stock valued at $185,220,000 after buying an additional 1,050,648 shares during the period. Finally, Focused Investors LLC grew its holdings in Centene by 588.1% in the 1st quarter. Focused Investors LLC now owns 1,042,400 shares of the company's stock valued at $63,284,000 after buying an additional 890,900 shares during the period. Hedge funds and other institutional investors own 93.63% of the company's stock.

Centene Stock Performance

CNC stock opened at $35.61 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64. The firm has a market cap of $17.49 billion, a P/E ratio of 8.81, a P/E/G ratio of 1.41 and a beta of 0.48. Centene Corporation has a 12-month low of $25.08 and a 12-month high of $70.11. The stock's 50 day simple moving average is $31.97 and its 200 day simple moving average is $43.94.

Centene (NYSE:CNC - Get Free Report) last posted its quarterly earnings results on Friday, July 25th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.39). Centene had a net margin of 1.15% and a return on equity of 9.57%. The firm had revenue of $48.74 billion for the quarter, compared to analyst estimates of $44.71 billion. During the same period in the prior year, the company posted $2.42 earnings per share. The business's revenue was up 22.4% on a year-over-year basis. Centene has set its FY 2025 guidance at 1.750-1.750 EPS. As a group, equities research analysts predict that Centene Corporation will post 6.86 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Wall Street Zen cut Centene from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Wells Fargo & Company set a $41.00 target price on Centene and gave the stock an "equal weight" rating in a report on Tuesday, October 7th. Barclays boosted their target price on Centene from $33.00 to $35.00 and gave the stock an "equal weight" rating in a report on Friday, September 12th. Sanford C. Bernstein decreased their target price on Centene from $40.00 to $36.00 and set an "outperform" rating for the company in a report on Friday, September 5th. Finally, Mizuho boosted their target price on Centene from $28.00 to $40.00 and gave the stock a "neutral" rating in a report on Thursday, October 9th. Three investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $39.50.

Insider Buying and Selling at Centene

In other Centene news, Director Theodore R. Samuels II purchased 9,000 shares of the firm's stock in a transaction dated Monday, July 28th. The stock was bought at an average price of $27.62 per share, with a total value of $248,580.00. Following the completion of the purchase, the director owned 32,000 shares in the company, valued at $883,840. This trade represents a 39.13% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sarah London acquired 19,230 shares of the business's stock in a transaction dated Friday, August 8th. The stock was purchased at an average price of $25.50 per share, with a total value of $490,365.00. Following the acquisition, the chief executive officer owned 845,275 shares of the company's stock, valued at approximately $21,554,512.50. This trade represents a 2.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.36% of the company's stock.

Centene Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children's health insurance program, foster care, medicare-medicaid plans, long-term services and support.

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