Numerai GP LLC Buys 51,625 Shares of Centene Corporation $CNC

Key Points

• Numerai GP LLC raised its stake in Centene by 401.4% in Q3, purchasing 51,625 shares to own 64,487 shares worth about $2.30 million.
• Multiple other institutions also built or increased positions (UniSuper, First Citizens, Packer & Co, ARGA, Amundi), and institutional investors now own 93.63% of Centene's stock.
• In its most recent quarter Centene reported EPS of ($1.19) (beating estimates by $0.03) and revenue of $49.73 billion (+21.9% YoY); the stock trades near $34.77 with a market cap of $17.1 billion and a negative P/E of -2.55.

Numerai GP LLC lifted its stake in shares of Centene Corporation (NYSE:CNC - Free Report) by 401.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,487 shares of the company's stock after purchasing an additional 51,625 shares during the period. Numerai GP LLC's holdings in Centene were worth $2,301,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. UniSuper Management Pty Ltd increased its position in Centene by 66.0% during the 3rd quarter. UniSuper Management Pty Ltd now owns 85,232 shares of the company's stock valued at $3,041,000 after purchasing an additional 33,875 shares during the period. Packer & Co Ltd acquired a new stake in Centene in the 3rd quarter valued at $50,487,000. ARGA Investment Management LP acquired a new stake in shares of Centene in the 3rd quarter worth about $21,485,000. First Citizens Bank & Trust Co. boosted its stake in Centene by 122.5% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 223,157 shares of the company's stock valued at $7,962,000 after purchasing an additional 122,870 shares during the last quarter. Finally, Amundi raised its stake in shares of Centene by 6.2% in the second quarter. Amundi now owns 3,384,752 shares of the company's stock worth $183,724,000 after purchasing an additional 199,016 shares during the last quarter. 93.63% of the stock is owned by institutional investors.

Centene Stock Up 0.9%

CNC opened at $34.77 on Tuesday. The company's 50-day moving average price is $42.61 and its two-hundred day moving average price is $38.51. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.87. Centene Corporation has a twelve month low of $25.08 and a twelve month high of $66.03. The stock has a market cap of $17.10 billion, a price-to-earnings ratio of -2.55, a PEG ratio of 0.76 and a beta of 0.48.

Centene (NYSE:CNC - Get Free Report) last posted its quarterly earnings results on Friday, February 6th. The company reported ($1.19) EPS for the quarter, topping analysts' consensus estimates of ($1.22) by $0.03. The company had revenue of $49.73 billion for the quarter, compared to analysts' expectations of $48.41 billion. Centene had a negative net margin of 3.43% and a positive return on equity of 4.25%. Centene's revenue was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 EPS. Centene has set its FY 2026 guidance at 3.000-3.000 EPS. As a group, equities analysts expect that Centene Corporation will post 6.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Argus raised Centene to a "hold" rating in a research report on Monday, February 9th. Jefferies Financial Group lowered their target price on shares of Centene from $43.00 to $37.00 and set a "hold" rating for the company in a report on Friday, February 13th. TD Cowen boosted their price target on shares of Centene from $34.00 to $38.00 and gave the stock a "hold" rating in a report on Wednesday, February 11th. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $59.00 price objective on shares of Centene in a research report on Tuesday, January 6th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Centene from $38.00 to $45.00 and gave the stock a "neutral" rating in a research report on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Centene presently has an average rating of "Hold" and a consensus target price of $42.06.

About Centene

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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